On October 22, 1999, Snyder Communications shareholders approved the proposal to create a tracking stock in Circle.com,
a division of Snyder Communications, Inc. (NYSE:SNC - news). The stock began trading separately from SNC on October
25 on the Nasdaq market under the ticker symbol CIRCV on a ''when issued'' basis. On Friday, October 29, Circle.com
shares will begin trading on a regular basis on the Nasdaq National Market under the symbol CIRC.
From its 3rd quarter report:
The company reported net revenues for the quarter ended September 30, 1999 that increased 146% to a record $10.2 million
compared with $4.1 million for the same quarter of 1998. Earnings per share (diluted) for the third quarter of 1999 declined to
$0.11 (loss) from $0.01 profit in the third quarter of 1998, on a pro forma basis. Earnings per share declined due to
investments in infrastructure and growth orientated initiatives.
''We had a very exciting quarter, with some major client wins, including PNC Bank, United Healthcare and Teligent, among
others. The fourth quarter started strong with the previously announced win of the National Anti-Smoking Campaign. Now with
the creation of tracking stock, our performance can be measured directly against our competitive set,'' said Robert Wilke, Chief
Executive Officer of Circle.com. ''Our continued pace of new business shows that new clients are attracted to our ability to
create, retain, and expand customer relationships on the Web. Through both our proprietary technology, the Dynamic
Marketing Environment (DME) and our full suite of Web-enabling services, we do more than create a technology infrastructure
- we build market share for our clients.''
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The stock has behaved quite well since IPO.
Tie Zeng |
