Townpages records over 80% increase in second quarter revenues and a profit of $.12 per share.
News August 13, 17:51 Eastern Time
TownpagesNet.com -TPN- Reports 82% 2nd Quarter Revenue Increase
Over the 1999 First Quarter
ALTON, England, Aug 13, 1999 (BUSINESS WIRE via COMTEX) -- TownpagesNet.complc (AMEX:
TPN), which operates a portal to, and interactive service on, the Internet announced today revenues and
earnings for the second quarter and six month periods ended June 30, 1999.
Total revenues in the second quarter ended June 30, 1999 amounted to $3.9 million, up 82% from the $2.19 million recorded for the first quarter ended March 31, 1999. Net income for the second quarter rose to $771,722, or $0.12 per share as compared to the first quarter's net income of approximately $14,000. Total revenues for the six month period ended June 30, 1999 amounted to $6,094,691. Net income for that period was $785,581 or $0.13 per share. During the first and second quarters of 1998, the Company was primarily engaged in experimental prototype operations, had negligible revenues, and net losses for both periods.
Andrew Lyndon-Skeggs, Managing Director of TownPagesNet.com plc commented, "In the second quarter of 1999 we focused on growing our existing business and the successful completion of our
initial public offering on May 5, 1999, when we sold American Depositary Shares representing 2,200,000 shares of the Company's common stock. We are using those funds to roll out our free-to-useInternet access kiosks and rapidly build our infrastructure. We are also making strategic acquisitions to
enhance our growth. Our service now includes information on 1300 towns and cities throughout the UK.
With regard to our national e-commerce vertical web channels, we have signed 11 additional channels during the quarter, with a combined contract value of approximately $9.4 million, bringing our national channel contracts up to 21 plus four channels which we developed and operate ourselves."
"The Company has signed letters of intent to make two more strategic acquisitions. It has also concluded an agreement with NCR Limited for the manufacture, installation and maintenance of the
Company's national network of 3,500 touch screen kiosks. The deal with NCR Limited also contains a
strategic co-marketing agreement."
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including,
but not limited to, the impact of competitive products and pricing, product demand and market
acceptance, reliance on key strategic alliances, fluctuations in operating results and other risks detailed
from time to time in the Company's filings with the Securities and Exchange Commission.
TOWNSPAGESNET.COM PLC
Consolidated Statement of
Operations
(Unaudited)
Three Months Ended Six Months Ended
June 30 June 30
1999 1998 1999 1998
---- ---- ---- ----
Total Revenues $3,935,546 $17,533 $6,094,691 $18,845
Gross Profit/(Loss) 1,425,249 (12,867) 2,067,151 (11,555)
Income(Loss) from
Operations 684,160 (614,019) 764,119 (874,976)
Net Income (Loss) $771,722 ($656,206) $785,581 ($917,736)
Net Profit (Loss) Per
Share Basic
and Diluted $0.12 ($0.13) $0.13 ($0.11)
----------- ----------- ----------- -----------
Weighted Average
Shares Outstanding 6,378,022 5,000,000 5,692,818 5,000,000
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: TownPages
A. Lyndon-Skeggs
011-44 1420 543468
or
Countrywide
Ian Taylor
011-44 1295 224400
or
H.L. LANZET, INC.
Herbert Lanzet/DeeDee Lanzet
212/687-0061
Lanzet@aol.com
WEB PAGE: businesswire.com
GEOGRAPHY: INTERNATIONAL EUROPE
INDUSTRY CODE: INTERACTIVE/MULTIMEDIA/INTERNET
COMPUTERS/ELECTRONICS
COMED
EARNINGS
Copyright (C) 1999 Free Real Time.com Inc. All
rights reserved. No part of this document may be
reproduced in any form without the expressed written
consent of Free Real Time.com Inc.
|
