Fogdog reported that net revenue for the second quarter
ended June 30, 2000, was a record $5.8M, up more than 700%
from $0.7M reported in the second quarter of '99 and 24%
from the first quarter of 2000. Fogdog's net loss for the
quarter, excluding non-cash charges, was $12M, or $0.33 per
share, compared with a net loss, excluding non-cash charges,
of $3.7M, or $0.16 per share, for the second quarter of '99
(Fogdog). Fogdog CEO Tim Harrington told analysts yesterday
the company will focus "for the remainder of fiscal 2000 on
cutting costs and managing its cash position while expecting
a more moderate rate of growth." Harrington also said that
Fogdog "has enough cash to fund growth over the next 12
months and beyond." Cost cutting will "center on" TV
advertising as the company "spends less on brand building
and concentrates on promoting its strongest businesses,
baseball, fitness and active sports" (BRIDGE NEWS, 7/25).
JOYCE LEAVES: Fogdog President Tim Joyce is leaving the
company for personal reasons, effective August 15.
Harrington will assume Joyce's responsibilities and is not
seeking a replacement at this time. Joyce joined the
company in September after 20 years at Nike (Fogdog).
