Lycos announces first year-end result

Internet search product maker Lycos has announced financial results for its fourth quarter and first year of business.

Internet search product maker Lycos has announced financial results for its fourth quarter and first year of business.

Lycos has reported year-end revenues of US$5.3 million for the fiscal year ending July 31, 1996.

Fourth-quarter revenues were US$2.7 million, a 72% increase over the previous quarter, Lycos officials say. The company reported a net loss of US$2.2 million for the fourth quarter, officials say.

The company obtains revenue in part from advertisers and licensees, and both categories saw growth during the quarter, officials say. The number of advertisers grew from 112 to 160, while the number of licensees increased to 24, officials say.

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