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Revenue Triples But Kintera Posts a Loss

Kintera Inc., a San Diego-based maker of software that helps nonprofits manage fund raising, reported a net loss of $9.9 million on revenue of $9.5 million for the first quarter ended March 31.

The net loss included a non-cash charge of about $3 million related to the vesting of restricted stock issued for an acquisition last year.

For the first quarter of 2004, Kintera reported a net loss of $4.8 million on revenue of $3 million.

Kintera founder and Chief Executive Officer Harry Gruber said the company invested in product development and marketing as part of its overall business strategy.

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Kintera, which generates its revenues from upfront and monthly maintenance fees, said it processed $82.3 million in donations in the first quarter, or six times as much as the $13.3 million processed for the like quarter in 2004.

Traded on Nasdaq as KNTA, the stock closed at $3.34 on May 10, down $1.41. It has ranged from $3 to $12.13 over the past 52 weeks.

Mike Allen

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