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Liquid Audio admits to 2Q net loss

Stock price nosedives 27%

Liquid Audio reported a net loss of $7.7 million during the second quarter compared with a loss of $6.1 million for the same time period a year ago. Total revenues were $3.5 million, compared with $745,000 for the second quarter of 1999. Although the results surpassed analysts’ expectations, the stock price still suffered in Tuesday’s trading, closing down more than 27% to $6.75. Liquid Audio currently provides software or services to 900 retail and online sites.

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