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Revision History For: Audio Book Club (KLB) Next big internet play?

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Return to Audio Book Club (KLB) Next big internet play?

KLB sells audio books (including over 68,000 titles) to club memebers. Revenues are growing at about 100% year over year. The company intends to leverage the internet to generate sales through its web site, audiobookclub.com

In a recent press release, the company said:

"We continue to invest in the expansion of our Internet business which we believe will increase as a result of recent agreements with AOL, Excite, Audio Net and MapQuest, among others. We continue to believe that the Internet represents a key strategic growth area for Audio Book Club."

KLB went public last October at $10 prior to dropping below $4 this month. But the recent K-Tel hysteria has apparently infested these shares, sending them up 39% to 5 9/16 yesterday. Zacks shows an estimate of $.49 for '98 and $.69 for '99 (versus a loss of $1.20 in '97), so the fundamentals are squarely in place for a nice move upwards.

Let's get it started!