Revenue for the December 2000 quarter was $199.0 million compared to revenue of $151.2 million for the September 2000 quarter, an increase of 32%. Revenue for the December 1999 quarter was $33.2 million. The net loss, excluding restructuring, integration and non-cash expenses, for the December 2000 quarter was ($51.8) million or ($0.14) per share, compared to ($65.8) million, or ($0.27) per share for the September 2000 quarter and ($47.5) million or ($0.40) per share for the December 1999 quarter. The net loss for the December 2000 quarter was $(1.349) billion or $(3.75) per share compared with $(786.9) million or $(3.17) per share for the September 2000 quarter and $(234.7) million or $(1.98) per share for the December 1999 quarter.
Revenue for the year ended December 31, 2000 was $517.2 million compared to revenue of $102.1 million for the year ended December 31, 1999. The net loss excluding restructuring, integration and non-cash expenses for the year ended December 31, 2000 was ($246.2) million, or ($1.01) per share compared to ($79.4) million, or ($0.99) per share for year ended December 31, 1999. The net loss for the year ended December 31, 2000 was $(3.086) billion or $(12.61) per share compared to $(288.0) million and $(3.58) per share for the year ended December 31, 1999.
The Company recorded a charge related to its restructuring and integration efforts of $408.0 million and $452.9 million for the quarter and year ended December 31, 2000, respectively. This includes (i) non-cash charges of $365.9 million and $380.0 million for the quarter and year ended December 31, 2000, respectively, relating to the previously announced transactions with News Corporation and Dupont, stock option compensation charges related to the previously announced severance arrangements with certain executives and the write-off of assets related to facilities to be consolidated; (ii) a charge of $31.5 million and $62.3 million for the quarter and year ended December 31, 2000, respectively, primarily relating to accruals for anticipated lease termination costs and severance relating to the Company’s previously announced restructuring initiatives and (iii) $10.6 million for both the quarter and year ended December 31, 2000 relating to integration related expenses such as stay put arrangements for employees given future termination dates, moving, relocation and outside professional fees which are required to be expensed as incurred. The Company also recorded a non-cash charge of $39.6 million for the year ended December 31, 2000 primarily relating to various past investments made in Internet-related businesses. The charge reflects the decline in value of such investments given the financial condition of the individual companies.
As of December 31, 2000, the Company had approximately $710.5 million in cash and marketable securities.
The financial results for the year ended December 31, 2000 reflect the acquisition of Kinetra and the transaction with News Corporation completed in late January 2000, the acquisition of ENVOY Corporation, which was completed May 26, 2000 and the mergers with Medical Manager, CareInsite and OnHealth which were completed on September 12, 2000. These transactions have been accounted for as purchases and the results of operations of each of these are included in the financial results since the acquisition dates. The results exclude the Company’s plastic and filtration technologies subsidiaries given the Company’s decision to divest these businesses.
