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siliconinvestor.com
[excerpts]
HyperFeed Technologies Announces Second Quarter Earnings
CHICAGO, Aug. 9 /PRNewswire/ -- HyperFeed Technologies, Inc. (Amex: PQT), which changed its name from PC Quote, Inc. following approval at its annual shareholders meeting held Wednesday, June 16, 1999, announced a 40% increase in total revenue for the quarter ended June 1999. Total revenue increased to $8,052,031 compared to $5,751,111 for the comparable period in 1998. HyperFeed service revenue from market data sales increased to $4,366,871 or 33.4% for the second quarter 1999 over 1998. Internet service revenue from analytical software license fees and the sale of website advertising increased 48.7% to $3,685,160 over the same prior year period.
In addition, the firm reduced its reported loss for the second quarter ended June 30, 1999 versus the prior year. The loss for the second quarter of 1999 was $2,114,148 or $.14 per share, versus a loss of $2,365,742 or $.19 per share, for the same period in 1998. The loss for the second quarter of 1999 includes $1.0 million for a one-time, non-recurring termination fee and a non-cash charge of $350,000 for the amortization of prepaid licensing fees to CNNfn. The second quarter of 1999 net loss, adjusted for these two items, would have been $764,148, a reduction of $1.6 million from the second quarter of 1998 loss of $2,365,742. In connection with the formation of its subsidiary, PCQuote.com, Inc., HyperFeed terminated its existing Software Distribution Agreement and subsequently entered into new separate replacement software distribution agreements for HyperFeed and PCQuote.com. The amortization of the CNNfn licensing fee relates to the previously reported, limited exclusive licensing agreement to provide CNNfn's financial news to users of PCQuote.com's financial website, pcquote.com .
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About HyperFeed Technologies, Inc.
HyperFeed Technologies is a leading provider of real-time financial market data and news to professional and consumer markets worldwide. The company's proprietary datafeed, HyperFeed 2000, is known as the fastest, most complete datafeed available and is the only datafeed able to consistently deliver full options chains in true real-time. Incorporating IP Multicast and proprietary advanced compression technologies, HyperFeed 2000 offers recipients the speed and the capacity to handle rapidly growing volumes of market data.
Professional and individual investors use the firm's software applications to view, analyze and manipulate HyperFeed 2000's robust market data. In addition, the firm also offers web-based authoring and software development tools for easy integration of HyperFeed 2000 data into a variety of web-based and software applications.
HyperFeed's subsidiary PCQuote.com, Inc. is an Internet-based provider of high performance, real-time financial data, timely business news, comprehensive research and analytical tools. The company's services provide access to sophisticated and dynamic financial information that allows users to make informed investment decisions. |
