Was this posted from Thursday...
BancBoston Reiterates BUY Rating on BWEB
BancBoston Robertson Stephens Reiterates Buy Rating on BWEB
SAN FRANCISCO, July 26 /PRNewswire/ --The following is being issued by BancBoston Robertson Stephens, a member of the
National Association of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and senior networking software analyst John F. Powers today reiterated his
Buy rating on BackWeb Technologies (Nasdaq: BWEB). The company, headquartered in Ramat Gan, Israel, and San Jose,
Calif., is an established early leader in priority delivery of information over networks.
"We are reiterating our Buy rating on BackWeb following the company's announcement of strong second-quarter 1999
earnings," said Powers. "The company reported revenues of $5.1 million, exceeding our estimate of $4.5 million by
$600,000, and up significantly year-over-year from $2.0 million.
"In our view, BackWeb has established itself as an early leader in priority delivery of information over networks," said
Powers.
Highlights of the quarter include:
1. significant deals with US West and Hewlett-Packard, leading to
increasing client ubiquity,
2. announcement of a service-accelerator suite, which will ship next
quarter,
3. alliances with SAP and Baan customer relationship management
offerings,
4. addition of Deloitte Consulting as a partner and
5. receipt of an additional patent.
"We consider BackWeb to be a franchise Internet-infrastructure company and we continue to believe there is upside to
our numbers," said Powers.
Clients interested in receiving more information should contact their salesperson at 415-781-9700.
/CONTACT: press only, Erin Freeman, 415-248-4757, or Elizabeth Keys, 202-326-1763, both for BancBoston Robertson
Stephens/ |
