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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 17, 2000
CMGI, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 000-23262 04-2921333
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
100 Brickstone Square, Andover, MA 01810
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 684-3600
N/A
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(Former name or former address, if changed since last report)
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Item 9. Regulation FD Disclosure
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On November 13, 2000 we conducted a conference call related to our
financial guidance for the fiscal year ending July 31, 2001.
We are furnishing the following information in response to questions
received after the conference call. We do not intend to update this
information, unless we believe that it is necessary to do so in accordance with
Regulation FD.
Q: What were CMGI's holdings of publicly traded stock at
October 31, 2000?
A: Please see Table 1.
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Q: What were CMGI's holdings of publicly traded stock at
July 31, 2000?
A: Please see Table 2.
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Q: Can you help us understand how/why CMGI's stock holdings are
designated as "available-for-sale" in its consolidated balance sheet and why
these stock holdings are "carved out" from the total pool of public securities
held by the company?
A: The classification of certain of our publicly traded stock holdings
as "available-for-sale securities" in our consolidated balance sheet is governed
by Statement of Financial Accounting Standards No. 115, "Accounting for Certain
Investments in Debt and Equity Securities" (SFAS No. 115). Our holdings in
publicly traded stock for which our ownership interest in the underlying company
is greater than 20%, or for which it is determined that we can exercise
significant influence over the underlying company, do not meet the criteria for
classification as
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"available-for-sale securities" under SFAS No. 115. These investments are
accounted for on either the consolidation or equity method of accounting in our
consolidated financial statements. In addition, certain of our holdings in
publicly traded stocks are subject to various contractual lock-up agreements. If
a marketable security carries restrictions on transferability for a period of
greater than one year, the security does not meet the criteria for
classification as "available-for-sale securities" under SFAS No. 115.
Q: CMGI disclosed on the conference call that subsequent to July 31, 2000
AdForce was transitioned from the Interactive Marketing segment to the
Infratructure segment and that Signatures Network would be transitioned from the
Search & Portals segment to the e-Business and Fulfillment segment. Further, as
a result of these reporting changes, results for the fiscal fourth quarter of
the year ended July 31, 2000 would be reclassified. What are the fourth quarter
results taking into account these reclassification(s)? What are the third
quarter results, taking into account these reclassification(s)?
A: Please see Table 3.
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TABLE 1
SIGNIFICANT HOLDINGS OF PUBLICLY TRADED STOCK AS OF OCTOBER 31, 2000
Number of
Amounts in thousands Shares *
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Engage, Inc. 152,339
NaviSite, Inc. 40,116
Pacific Century Cyberworks, Ltd. 448,347
Terra Lycos, Inc. 6,786
Primedia, Inc. 8,000
Vicinity Corporation 4,636
Ventro Corporation 3,194
eBay, Inc. 282
divine interVentures, inc. 4,749
Hollywood Entertainment Corporation 4,358
Akamai Technologies, Inc. 250
Netcentives, Inc. 1,694
Virage, Inc. 1,078
* -- Certain portions of our publicly-traded stock holdings ultimately may be
attributable to CMGI@Ventures' profit members. Therefore, included on this
schedule are only the portion of our total holdings which are expected to be
attributable to CMGI. Also, excluded from our holdings on the above schedule
are approximately 0.6 million shares of Yahoo!, Inc. common stock which we
pledged in conjunction with a forward-sale agreement entered into during
fiscal 2000.
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TABLE 2
SIGNIFICANT HOLDINGS OF PUBLICLY TRADED STOCK AS OF JULY 31, 2000
Number of
Amounts in thousands Shares *
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NaviSite, Inc. 40,116
Engage, Inc. 154,639
Pacific Century Cyberworks, Ltd. 448,347
Lycos, Inc. 11,555
Primedia, Inc. 8,000
Kana Communications, Inc. 3,692
Vicinity Corporation 4,596
Critical Path, Inc. 1,316
eBay, Inc. 1,224
divine InterVentures, inc. 4,749
Hollywood Entertainment Corporation 4,358
Ventro Corporation 3,103
Netcentives, Inc. 1,694
Akamai Technologies, Inc. 250
Virage, Inc. 1,078
*--Certain portions of our publicly-traded stock holdings ultimately may be
attributable to CMGI@Ventures' profit members. Therefore, included on this
schedule are only the portion of our total holdings which are expected to be
attributable to CMGI. Also, excluded from our holdings on the above schedule
are approximately 1.2 milion shares of Yahoo!, Inc. common stock which we
pledged in conjunction with a forward-sale agreement entered into during fiscal
2000.
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TABLE 3
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<TABLE>
<CAPTION>
Three Months Ended July 31, 2000
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Infrastructure Internet
Interactive eBusiness and Search and and Enabling Professional
Marketing Fulfillment Portals Technologies Services Other Total
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<S> <C> <C> <C> <C> <C> <C> <C>
(in thousands)
Net revenue $ 72,546 $ 171,327 $ 67,792 $ 35,096 $ 30,487 $ -- $ 377,248
Operating expenses:
Cost of revenue 40,838 151,493 33,044 61,666 21,525 -- 308,566
Research and development 13,507 569 26,786 11,604 225 -- 52,691
In-process research and
development 18,500 -- -- -- -- 1,246 19,746
Selling 40,184 14,980 79,006 21,116 3,052 2,953 161,291
General and administrative 13,575 10,236 13,767 17,661 7,148 21,297 83,684
Amortization of intangible
assets and stock-based
compensation 138,013 38,839 219,981 82,760 51,379 51 531,023
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Total operating expenses 264,617 216,117 372,584 194,807 83,329 25,547 1,157,001
Operating loss $ (192,071) $ (44,790) $ (304,792) $ (159,711) $ (52,842) $(25,547) $(779,753)
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</TABLE>
<TABLE>
<CAPTION>
Three Months Ended April 30, 2000
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Infrastructure Internet
Interactive eBusiness and Search and and Enabling Professional
Marketing Fulfillment Portals Technologies Services Other Total
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<S> <C> <C> <C> <C> <C> <C> <C>
(in thousands)
Net revenue $ 64,783 $ 69,253 $ 63,073 $ 26,460 $ 9,575 $ -- $ 233,144
Operating expenses:
Cost of revenue 46,941 58,160 29,393 45,869 7,955 -- 188,318
Research and development 9,883 711 28,308 9,191 1,578 -- 49,671
In-process research and
development 29,300 -- -- 11,920 -- -- 41,220
Selling 35,768 2,772 67,434 18,839 2,297 1,802 128,912
General and administrative 15,814 5,659 13,149 12,581 4,104 10,007 61,314
Amortization of intangible
assets and stock-based
compensation 151,682 2,348 249,224 61,307 17,372 54 481,987
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Total operating expenses 289,388 69,650 387,508 159,707 33,306 11,863 951,422
Operating loss $ (224,605) $ (397) $ (324,435) $ (133,247) $ (23,731) $(11,863) $ (718,278)
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</TABLE>
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 17, 2000 CMGI, Inc.
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(Registrant)
By: /s/ Andrew J. Hajducky, III
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Andrew J. Hajducky III
Executive Vice President, Chief Financial
Officer and Treasurer
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