XMCM: Suggestion, If some net stocks gap up tomorrow, don't be to concerned about gap strategies, it will mostly be runaway gaps that won't fill but expand during the rest of the session. XMCM.Second Quarter Also Highlighted by Proposed NBC Internet Merger, Successful $167 Million Secondary Public Stock Offering and Four Strategic Acquisitions.... BE SELECTIVE!!!
SAN FRANCISCO, July 20 /PRNewswire/ -- XOOM.com, Inc. (Nasdaq: XMCM), a leading Internet-based direct e-commerce company, today reported revenues totaling $6.5 million for the second quarter ended June 30, 1999, an increase of 48 percent over revenues of $4.4 million in the first quarter of 1999. Second quarter 1999 revenues represent an increase of more than 280 percent over revenues of approximately $1.7 million reported in the same period of the previous year.
XOOM.com reported a second quarter pro forma net loss of $2.7 million or $0.16 per share. This compares to a pro forma net loss of $2.4 million or $0.18 per share for the first quarter of 1999 and a pro forma net loss of $1.7 million or $0.24 per share reported in the same period of the previous year. Pro forma net loss excludes the effects of acquisition-related amortization of intangible assets and purchased in-process research and development charges. Net loss, including the effects of acquisition-related amortization of intangibles and purchased in-process research and development charges for the second quarter ended June 30, 1999 was $6.8 million or $0.40 per share. This compares to a net loss of $3.3 million or $0.24 per share for the first quarter of 1999 and a net loss of $2.3 million or $0.33 per share reported in the same period of the previous year.
"It's a testament to the focus and hard work of XOOM.com's entire staff that it completed a successful secondary public offering, proposed a merger to its stockholders to form NBC Internet and acquired four companies while remaining focused on delivering strong revenues," said Chris Kitze, Chairman of XOOM.com. "The sum of these accomplishments allowed us to take another huge step forward in building long-term value for the stockholders in this company."
Both e-commerce revenue and advertising revenue showed strong gains in the second quarter. The company's revenue growth was accompanied by the continued positive growth of its membership base, which ended the second quarter at 8.7 million, up from 6.9 million members at the end of the first quarter and up from 1.8 million members reported on June 30, 1998. In terms of Internet reach, XOOM.com was the 13th most visited site on the Web in June, according to Media Metrix.
"To date XOOM.com has generated $10.9 million in revenue in 1999," said John Harbottle, CFO of XOOM.com. "To put our revenue growth in perspective, by May 31st of this year, we generated more revenue than we had for all of 1998." |
