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February 3, 1999


By CBR Staff Writer

N2K Inc, New York-based online music retailer, has reported a fourth-quarter net loss of $22.7m on revenue of $17.2m, compared to a net loss of $13.2m on revenue of $4.0m in the year-ago period. For the full year, net loss was $76.9m on revenue of $42.1m, against a loss of $28.7m on revenue of $8.1m last year. Results include a one-time charge of $2.4m relating to the ongoing merger with CDnow Inc and an extraordinary loss on the disposal of discontinued operations of $1.6m. Full-year results for 1997 include a one-time gain of $1.6m.

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