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Technology Stocks : GlobalNet Corporation (GLBT)

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To: jmhollen who wrote (34)	5/26/2001 10:22:45 PM
From: jmhollen	of 60

GlobalNET sees revenue growth for rest of 2001 LOMBARD, Ill., May 24 (Reuters) - GlobalNet Inc. (NASDAQ:GBNE), an Internet data and voice provider, said on Thursday it expects revenues for each of the remaining three quarters of the year to increase 25 percent to 35 percent from the previous quarter due to growing demand for its services. "Based on our existing backlog and the significant addition of capacity into our network from existing customers, we anticipate significant revenue growth over the remaining three quarters of this year," Chairman and Chief Executive Robert Donahue said in a statement. Shares in the company closed Wednesday at 95 cents, the low end of a 52-week range of 56 cents to $26.88.

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