EarthLink to Surpass Member Growth
Estimates in the Third and Fourth Quarter;
EarthLink Will End the Year with Nearly 2
Million Members
Business Wire - August 30, 1999 08:50
marketwatch.newsalert.com
PASADENA, Calif.--(BUSINESS WIRE)--Aug. 30, 1999--EarthLink
(Nasdaq:ELNK) announced today that it will surpass its member growth estimates for the third quarter and fourth quarter, ending the year with close to 2 million members.
EarthLink is expected to add 230,000 net new members in the third quarter and 370,000 in the fourth quarter, a total of 600,000 million members.
In terms of member growth, EarthLink anticipates that it will have its best quarters ever both in the third quarter, which is traditionally considered to be slow, and in the fourth quarter. EarthLink expects to end the year with nearly 2 million members.
"We've seen a solid increase in our member growth which is based on our successful organic growth strategy and focus on the switcher market," said Garry Betty, president and CEO of EarthLink.
"Last year we announced a detailed accelerated growth plan to position ourselves as the clear alternative to AOL. EarthLink has grown more rapidly than any other ISP over the last year and we achieved this while maintaining a solid, high-quality service as evidenced by our industry-leading low churn rate."
Betty added, "Even with the recent announcements of many free ISP, PC and rebate deals along with the entrance of PC manufacturers into the ISP market, it's clear that businesses and consumers still value a reliable, service-oriented ISP. In addition, EarthLink's accelerated
growth has been achieved with very acceptable acquisition costs."
During the quarter, EarthLink has completed a number of major deals, positioning the company more competitively in the marketplace. For example, EarthLink secured the exclusive ISP position on one million FreeMac.com computers and was named as the exclusive ISP for national insurance provider USAA.
EarthLink also announced a distribution deal with AOL for its Instant Messenger product. For DSL, EarthLink added 2 national providers GTE and UUNET; for small business, EarthLink teamed up with Discover Financial Services to offer service to 3 million merchants; and for service, EarthLink received the A+ rating for its strong network
performance.
About EarthLink
EarthLink is one of the world's leading Internet service providers. Through its unified EarthLink Sprint Internet access service, the company makes the Internet relevant and productive to more than 1.3 million individuals and businesses every day.
Headquartered in Pasadena, EarthLink provides a full range of innovative access and hosting solutions to thousands of communities internationally from more than 2,300 points of presence. EarthLink and Sprint Corp. (NYSE:FON) have formed a broad business relationship to create an Internet service with the potential to reach millions of new customers.
Sprint is a global communications company and one of the world's largest carriers of Internet traffic. Information about EarthLink and EarthLink Sprint services is available by calling 800/395-8425 and through EarthLink's Web site at www.earthlink.net. |
