I think I read where PC Quote is no longer supporting satellite quotes Eric.
Announces Third Quarter Results
PR Newswire - November 02, 1999 16:17
CHICAGO, Nov. 2 /PRNewswire/ -- HyperFeed Technologies, Inc. (Nasdaq: HYPR), formerly PC Quote, Inc. announced a 37.4% increase in total revenue for the quarter ended September 1999. Total revenue increased to $8,572,681 compared to $6,237,710 for the comparable period in 1998. HyperFeed service revenue from market data sales increased 31.8% to $4,560,911 for the third quarter 1999 over 1998. Internet service revenue from analytical software license fees and the sale of website advertising increased 44.4% to $4,011,770 over the same prior year period. For the first nine months of 1999, total gross margin increased 17.6% to $5.2 million in 1999 from $4.5 million in 1998. For the quarter ended September 30, 1999 total gross margin was $2.1 million, an increase of 13.7% from $1.9 million in the third quarter of 1998. Gross margin for HyperFeed Services was up 59.4% to $1.5 million for the quarter and 51.5% to $3.4 million for the nine-month period. Gross margin for Internet Services declined $289,000 for the quarter and $374,000 for the nine-month period.
Including a one-time $1.4 million charge to terminate an old satellite service, the firm reported a loss for the third quarter ended September 30, 1999 of $3,202,869 or $.22 per share, versus a loss of $911,055 or $0.07 per share, for the same period in 1998. Excluding the charge the third quarter net loss was $1,791,624 or $0.12. For the nine months the reported loss was $6,042,818, or $0.41 per share, and $4,631,573 or $0.31 per share excluding the charge, versus a loss of $5,185,285, or $0.40 per share, for the year earlier period.
Considering the satellite agreement could have been through August 2006 at $56,000 per month, the settlement is wonderful for the firm going forward. The agreement which was terminated related to 112KB satellite service which quickly became insufficient with the influx of market data volumes. Our new HyperFeed 2000 IP Multicast datafeed, specifically developed to meet the demands of current and future market activity, combined with our compression technology is now transmitted over Hughes Network Systems. We are now able to broadcast a complete T-1 datafeed on only 256kb of bandwidth. We selected a system that is easily expandable in anticipation of escalating market conditions -- truly ideal for our transmissions today and well into the future." |
