I just love this niche company.
Revs up 1056% over 4Q '98
137,000 new members, 290% over 4Q '98
page views up 692%. This means serious money from advertisers inh the future. Has a lot of potential
w/ online sales and all the planning involved
Neat Websight also.
Plus makes you feel all warm and fuzzy inside...;o)
Young people planning weddings that are in love tend to
make the parents pay BIG time!
Just gonna hold this puppy.
8 bucks is a steal!
Doc,you getting some for your 8 year old? My little girl just turned 11.
Great ages for kids.
Very good news for credit backers...
CSFB trims loss view on The Knot, cites sales growth
NEW YORK, Feb 4 (Reuters) - Credit Suisse First Boston trimmed its loss estimate for The Knot Inc. (NASDAQ: KNOT) on Friday after the online wedding site on Thursday reported rising quarterly revenues and a widening loss.
"We believe Knot is an overlooked, very undervalued security. As evidenced by the strong results for the fourth quarter, 1999. The Knot is filling a very real marketplace need," wrote Lise Buyer, an analyst for CSFB in a research note to clients.
In its first earnings statement since going public The Knot reported a net loss for its fourth quarter ended Dec. 31 of $3.2 million, or $0.48 per share, compared to a loss of $678,000, or $0.23 in the year-earlier period.
Analysts surveyed by First Call/Thomson Financial were expecting The Knot to lose $0.55 a share.
Shares of the e-commerce company were up 7/16 at 8-3/4 in trade on the Nasdaq Friday morning.
Net revenues for The Knot were $2.5 million for the fourth quarter, compared with $214,000 for the prior year's quarter. Fourth quarters were up 31 percent over the $1.9 million reported in the third quarter.
As a result of the company's prospects, Credit Suisse First Boston trimmed its loss per share estimates for The Knot. For 2000 the loss estimate was lowered to $0.93 a share, down from $0.97 and to a loss of $0.58 from $0.60 for 2001.
On Wednesday The Knot said it has agreed to acquire U.S. magazine publisher Weddingpages Inc. for $8.5 million in cash to broaden its reach into the regional wedding market.
"The Knot has doubled its potential revenue opportunity and clearly differentiated itself from other wedding-related Web sites," wrote Buyer.
In the fourth quarter, The Knot enrolled 137,000 new members, bringing its cumulative membership to over 500,000, compared with 136,000 a year earlier, the company said.
For full year 1999 results, the company lost $9.2 million, or $2.31 per share, compared to a loss of $1.5 million or $0.60 per share in the prior year. Revenues in 1999 were $5.1 million, up from $1.0 million a year earlier.
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