Today's POS: PHCM. Look at this malarchy: "Phone.com May Make Purchases After Sprint Agreement. Phone.com May Make Purchases After Sprint Agreement (Update2)
(Updates with closing share price.)
Redwood City, California, Aug. 12 (Bloomberg) -- Phone.com
Inc., which makes software that allows wireless telephones to
access the Internet, could make acquisitions to expand its
product line, Chairman and Chief Executive Alain Rossmann said.
Shares of the Phone.com surged for a second day, rising
10 15/16, or 13 percent, to 95 1/16, after climbing as high as
101 5/8. The stock jumped 30 percent yesterday after Sprint
Corp.'s wireless unit, Sprint PCS, said it would sell wireless
phones using Phone.com software in September.
The Redwood City, California-based company, which first sold
shares to the public in June at $16 each, wants to use
acquisitions to expand because of a shortage of technical workers
in the U.S., Rossmann told the Bloomberg Forum.
``Acquisitions become a very valid and very constructive
vehicle for us to grow,' Rossmann said. ``This is something
we're looking at very carefully.'
Phone.com has signed 10 software-licensing agreements for
its UP.Link server suite this quarter. The company wants to
capitalize on the expected boom in demand for wireless Internet
access, as the popularity of both cell phones and the World Wide
Web grow.
``Today, the toughest market is not the financial market,
it's the human capital market,' Rossmann said. ``What we're
looking for is technologies that complement our portfolio of
technologies,' such as software applications that would increase
the speed at which information can be downloaded on wireless
phones.
Profit Forecast
Rossmann also said that Phone.com expects to break even in
2001, and that with $120 million in the bank, it has ``no
immediate need for further funding.'
In the fiscal year ended June 30, the company lost
$20.8 million, or $2.98 a share, compared with $10.6 million, or
$2.03, the prior year. Revenue rose more than sixfold to
$13.4 million from $2.2 million.
Phone.com sees 30 percent of its revenue coming from the
U.S. next year, Rossmann said, partly as a result of the
deployment of its software in phones from Kansas City, Missouri-
based Sprint PCS. Further growth will come from Taiwan, Singapore
and Hong Kong, where cellular phone use is increasing rapidly.
The company's largest opportunity over the next 18 months is
in India and China, he said. ``The demand for our technology goes
beyond the developed world,' Rossmann said. ``We have demand for
our technology everywhere around the world because the cell
phones are so ubiquitous. Even where PCs don't exist, cell phones
are there.'
Phone.com has licensed its software to 25 phone
manufacturers worldwide, covering 90 percent of the phones
currently produced, and to a third of the world's wireless
carriers, covering about 138 million subscribers, he said."
So this guy thinks he's gonna buy real RBOCs or what? What a weak currency. |
