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Technology Stocks : GoTo.com, promising Internet search engine

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To: ChinuSFO who wrote (485)	8/4/1999 10:11:00 AM
From: Mike Fredericks	of 977

I only really care about two items in the earnings report. 1) the expenses. Last Q they were at $7MM. If they jump much and show no indication that they are going to stay at current levels then that would be a bad thing. The expenses may be up because I'm sure that the netscape deal cost them, and they probably have paid more out through the affiliate program than they did in 1Q. However if there are other assorted expenses in there and there's no guarantee that 3Q expenses will stay close to 4Q expenses, that's a bad thing. 2) revenues. 1.5MM was awful little for Goto in 1Q. I'd like to see 4MM, I'm betting somewhere in the 3MM-3.5MM range. If it's less than 3MM it will be a while before I buy back into this stock. If it's over $4MM and the expenses are reasonable I will probably buy back in very shortly. I think Goto can be profitable within 6 months but only if they can contain expenses. If the revenues are less than 3MM it means my revenue projecting model is nowhere near accurate, which means it may not be profitable any time soon and I'll probably stay away. -Mike

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