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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 11.62

+0.6%

Oct 31 9:30 AM EDT

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To: Mohan Marette who started this subject	12/20/2000 7:39:53 PM
From: ms.smartest.person	of 1471

Fortune Lists SIFY Among Top 10 Tech Firms asia.internet.com By Uday Lal Pai India Correspondent, asia.internet.com [December 19] India's largest private ISP Satyam Infoway (SIFY) is among the 10 top technology companies worldwide recommended for investment by the American business magazine, Fortune. "Satyam's rich media content and large Internet subscriber base could position it as the AOL-Time Warner of India," says the magazine. Satyam Infoway started as a division of Satyam Computers in 1995 and has never turned a profit. In fiscal 1999-2000, Fortune said, the company posted a loss of $8 million on revenue of roughly $15 million. Quoting analysts of Salomon Smith Barney Securities, the magazine said that Satyam's revenues would grow to $54 million this fiscal and its losses would widen to $12.9 million. However, the company should turn the corner in 2001 when Salomon expects Satyam to post its first net profit of $6.3 million, and net profits to quadruple the following year. Until those profits roll in, Satyam should remain financially stable.

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