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   | 2000 Globe 100 |

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2. ENGAGE INC.
Hot no longer

5/22/2001

   

BEARS & BULLS

Old economy companies led Bay State Bulls
The shining lights of the local investment world were companies that sell sneakers, blood tests, clothes for middle-age women, and life insurance.
Continued

THE BULLS
1. J. Jill Group
2. Inverness Medical Tech.
3. Reebok Intl.
4. Bostonfed Bancorp
5. John Hancock Financial


THE BEARS
1. Aztec Tech. Partners
2. Engage Inc.
3. CMGI Inc.
4. Telaxis Communications
5. NaviSite Inc.


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nce hot, now not, Engage has gone the way of many dot-com companies in the last year and a half.

In 1999, the Internet advertising firm was one of the top initial public offerings in Massachusetts, ranking 15th in last year's Globe 100 IPO list, with a 154.37 percent increase in price to $38.16.

Now, the price is hovering around $1, and the company makes this year's Globe 100 list of bears.

Based on year-to-year comparisons, Engage's stock price fell from $38.16 on March 31, 2000, to 72 cents on March 31 this year, for a 98.116 percent drop. That put the Andover-based firm second on the list, behind Aztec Technology Partners Inc.

Mark Horan, director of corporate communications, said in an interview that the company has taken steps to turn things around.

''We took some pretty strong measures to restructure the company and refocus,'' Horan said. ''We have a goal of being profitable in the fall of this year.''

He pointed to company earnings statements, which show $119.8 million in cash as of July 2000, the recent acquisition of MediaBridge Technologies, which expands the company's focus to software products, and a 26 percent reduction in worldwide work force.

''We're now very focused on growing revenue in very specific areas,'' Horan said.

The company has offices from Andover to London to Tokyo, and serves 10,000 marketers, retailers, newspapers, and other firms in more than 40 countries. Engage allows companies to manage their merchandising and advertising and to profile Internet users who view ads online.

DOLORES KONG

   


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