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SPORTSLINE USA REPORTS RECORD FIRST QUARTER PERFORMANCE
Published April 17, 1998
SportsLine USA announced a record revenue and site traffic for the first quarter ended March 31. Revenue increased 359% to $6.79M in the first quarter '98 from $1.48M during the same period of '97. SportsLine's net loss for the quarter was $9.01M or $0.56 per share, compared to $6.23M or $0.67 per share in the first quarter of '97. The company's financial results for all periods have been adjusted retroactively to include the results of GolfWeb, which SportsLine acquired in January '98. Traffic to SportsLine's Web sites during the first quarter of '98 grew 383% to 4.22 million page views per day, compared to 875,000 per day during the same period of '97. Average daily visits increased 417% to 656,000, compared to 127,000 last year. ADVERTISING: Ad revenue during the first quarter of '98 grew to approximately $4.42M, an increase of 465% over the same period in '97. During the quarter, SportsLine added such advertisers as British Airways, Campbell's Soup, Godiva Chocolate, DuPont, BMW, Saturn, Comdisco, Nextel, Mazda, LifeSavers and RCA. SportsLine netted about $2.3M in ad revenue from major sponsors of CBS SportsLine's Olympic Web pages. SportsLine's "E-Commerce" revenue also grew during the quarter, to $467,000, an increase of 198% (SportsLine).