InterWorld finally reported fourth-quarter earnings Friday, and it wasn't a pretty picture for the software vendor.
The company lost $20.8 million on sales of $6.2 million for the fourth quarter ended Dec. 31, 2000. That compared with a loss of $5.2 million on $14.7 million in sales in the prior-year period.
For the year, InterWorld lost $55.7 million on sales of $52.3 million. The company lost $30.4 million the prior year.
In a recent management change, the company named Larry McTavish as president and CEO. And Alan Tessler, chairman and CEO of holding company J Net Enterprises, the majority shareholder in InterWorld, replaced Michael Donahue as chairman. Donahue remains vice chairman and CEO.
J Net recently invested $20 million in InterWorld.
InterWorld stock closed Friday at 28 cents per share, just above its 52-week low of 19 cents set on March 13.
