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NORWALK, Conn. — Modem Media Inc. swung to a net loss in the fourth quarter but posted unexpected earnings from operations.
The online-advertising firm 45% owned by True North Communications Inc. (TNO) had a net loss of $61.7 million, or $2.47 a share, compared with year-earlier net income of $1.6 million, or six cents a share.
Excluding charges and acquisition-related expenses, Modem Media (MMPT) said it would have earned $800,000, or three cents a share, compared with $2.5
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