PROVIDENCE — Web content management company eBT released its fourth quarter and year-end results yesterday, posting a loss for the fourth quarter and a gain for the year.
For the fourth quarter, eBT’s net loss — excluding net restructuring and special charges of $319,000, and net operating gains of $2.6 million — was $4 million, or 25 cents per share. During the year-ago period, eBT posted a loss — excluding net restructuring and special charges of $410,000 and non-operating losses of $2.3 million –of $7.7 million, or 49 cents per share.
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eBT reported net income of $16.5 million, or 98 cents per diluted share, for the year 2000. In contrast, the company saw a net loss of $62.3 million, or $3.98 per share, during the same period a year ago.
eBT divested its former PDM and IED divisions and its former MediaBank product line between October 1999 and July 2000. The company said its fourth quarter non-operating gain of $2.6 million primarily related to the anniversary settlement associated with the PDM division.
The company announced a restructuring plan earlier this year, which included the elimination of 18 jobs from its Providence headquarters. eBT said it increased sales-related positions on the West Coast, in the Midwest and Europe, in attempts to return to profitability.
eBT also announced yesterday that it completed its common stock buyback of 1.7 million shares, a move its board authorized in July 2000. The company said it plans to repurchase up to 1.5 million more shares of common stock, as authorized by its board.
Shares of eBT opened at $2.56 this morning, up 19 cents.
