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Wednesday December 22, 10:19 am Eastern Time
Company Press Release
Robertson Stephens Raises Estimates on NITE to $.40 from $.29
SAN FRANCISCO--(BUSINESS WIRE)--Dec. 22, 1999--Robertson Stephens Senior eFinance Analyst Scott Appleby today raised estimates on Knight/Trimark Group (NASDAQ:NITE - news). The company is a leading market maker in NASDAQ securities, other over-the-counter equity securities and equity securities listed on the New York Stock Exchange and the American Stock Exchange in the Third Market.
``We are raising our estimates on Knight/Trimark due to greater than expected volumes throughout the fourth quarter of 1999,' said Appleby. ``Our earnings-per-share and revenue estimates for the fourth quarter of 1999 increase to $0.40 and $215.5 million, from $0.29 and $171.1 million, respectively. This brings our 1999 earnings-per-share estimate to $1.35 and our 1999 revenue estimate to $759.8 million.'
``December charges ahead with seven out of the ten top NASDAQ record volume days since December 1, 1999,' said Appleby. ``Despite the record volumes set back in November, Knight/Trimark AutEx continues to climb with average weekly volume for December reaching 338 million, a 13 percent increase over average weekly volume of 299 million for November.'
Clients interested in receiving more information should contact their salesperson at (415) 781-9700.
FleetBoston Robertson Stephens Inc. (``Robertson Stephens') is the leading full-service investment bank focused exclusively on growth companies. To date in 1999, the firm has completed over 180 public offerings and over 40 private offerings, raising more than $30 billion in capital for clients. The firm's 47 research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens is the section 20 subsidiary of FleetBoston Financial Corporation (NYSE: FBF - news) and is a member of the NASD and all major exchanges. Together, Robertson Stephens, FleetBoston Robertson Stephens International Ltd., and Robertson Stephens Evergreen Securities Ltd. employ over 1,000 employees worldwide with offices in Boston, San Francisco, New York, Menlo Park, Chicago and London. For more information about the firm, please visit our Web site at www.rsco.com.
The foregoing synopses are qualified in their entirety by the more detailed information contained in the full research reports, including the discussion of certain risks associated with an investment in the above-mentioned securities contained in ``Investment Risks.'
The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of FleetBoston Robertson Stephens Inc., the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in ``Investment Risks.' FleetBoston Robertson Stephens Inc. from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, FleetBoston Robertson Stephens Inc. has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. FleetBoston Robertson Stephens Inc., its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. FleetBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of Fleet Bank or BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested.
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