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US Interactive Reports Second Quarter Results -- Revenue Increases 200%
/FROM PR NEWSWIRE BOSTON 617-482-5355/
TO BUSINESS AND TECHNOLOGY EDITORS:
US Interactive Reports Second Quarter Results -- Revenue Increases 200%
PHILADELPHIA, Sept. 8 /PRNewswire/ -- U.S. Interactive, Inc.,
(Nasdaq: USIT) a leading Internet professional services firm, today reported
results for its second fiscal quarter ended June 30, 1999.
Revenue for the second quarter 1999 was $7.6 million, an increase of 200%
from the same period a year ago and a 25% sequential increase over the $6.1
million for the first quarter of 1999. The net loss for the second quarter
was $3.9 million. The net loss for the quarter excluding a non-recurring
charge for severance, amortization of deferred stock compensation, and
amortization of goodwill was $1.2 million. Basic and diluted EPS was a loss
of $0.43. EPS excluding amortization of deferred stock compensation and
goodwill amortization ("Cash EPS") was a loss of $0.19 per share.
"Our continued growth is based on our commitment and passion to this
industry and our customers. The industry recognition and awards we received
-- Received Computerworld's Smithsonian award for developing Starbright
World, an Internet-based community to enhance the quality of life for
seriously ill children.
-- Recognized by the London School of Economics for building one of the 10
best corporate Web sites in the world for creating the Comcast
Corporation Internet site.
-- Launched marketing programs focused on e-business thought leadership
through the establishment of the "e-Roadmap(SM) Web Broadcast
Interactive
Series".
About U.S. Interactive, Inc.
US Interactive is a leading Internet professional services company which
helps world-class organizations capitalize on the business opportunities
associated with the Internet. By combining business strategy, digital
marketing and technology skills, US Interactive builds electronic enterprises
using its proprietary e-Roadmap(SM) development plan, IVL Methodology(SM) and
CAPTURE -- an extranet relationship management tool. US Interactive currently
has more than 290 employees in eight cities: Los Angeles, Philadelphia, New
York, Washington, D.C., Boston, Chicago, Murray Hill, NJ, and Singapore.CONTACTS:
Kathy Babin, corporate communications of U.S. Interactive, Inc., 610-382-
8802, kbabin@usinteractive.com.
Marnie Butler of The Horn Group, 781-794-9933, mbutler@horngroup.com
Source PRN PR NewsWire
Categories:
NWR/PA NWI/MLM NWI/FIN NWS/ERNUS Interactive Reports Second Quarter Results -- Revenue Increases 200%
CONTACTS:
Kathy Babin, corporate communications of U.S. Interactive, Inc., 610-382-
8802, kbabin@usinteractive.com.
Marnie Butler of The Horn Group, 781-794-9933, mbutler@horngroup.com
Fred
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