IVillage Cuts Quarterly Losses

NEW YORK Online publisher iVillage this week reported a revenue decline but less losses for the first quarter.

The parent company of iVillage.com and Women.com posted first-quarter revenue of $12.6 million, down 17 percent from $15.1 million in the year-ago period and 8 percent from Q4 2002. Net loss for the quarter was $6.1 million, or 11 cents per share, a 66 percent improvement over a net loss of $17.9 million, or 34 cents per share, in Q1 2002. The company posted a net loss of $7.5 million, or 13 cents per share, in the fourth quarter of last year.

IVillage reported that during the first quarter it acquired more than 68 new advertisers and brands, including McDonald’s, New Line Cinema and Target. During the period, the company also ran co-promotional programs with General Electric, Kellogg’s Special K and Wal-Mart.

The New York-based women’s media company said it expects second-quarter revenue of $12.6-13.2 million. It also plans to realize $7.5 million in annualized cost reductions, $4 million of which has already been achieved, by the end of Q2, according to iVillage chairman and chief executive Douglas McCormick.

“We are not just responding to the [challenging economic environment] with cost-cutting initiatives, we are moving the business forward and introducing new revenue streams and expanded subscriptions offerings,” McCormick said in a statement. To this end, the company said it would continue to explore additional licensing opportunities for its content, as well as expand its subscription-based revenue sources, such as online courses, astrological charts and pay-per-use tools.

IVillage shares (IVIL) were trading on the Nasdaq Friday at 78 cents, down 5 cents or 6 percent. The stock’s 52-week high is $2.20 and 52-week low is 50 cents.