Terra Lycos losses narrow as revenues fall

LONDON - Terra Lycos is expected to delay its break-even target for the second time this year as a result of lower revenues, as the company's core third-quarter losses continue to narrow quarter on quarter.

Analysts expect the ISP's third-quarter loss before interest, tax, depreciation and amortisation to be reduced to £34.3m from £40.1m in the second quarter. However, revenues are also forecast to have fallen to £104m from £110m in the second quarter.

Analysts expect the ISP to achieve break-even Ebitda in the fourth quarter of 2002 or the first quarter of 2003, rather than its target Ebitda break-even date of second quarter of 2002.

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