You can't force ripen a grape.It takes time to make good wine.
September 11, 2000
Excelon Up 15% As Recent Momentum
Continues
Dow Jones Newswires
By John Seward
Of DOW JONES NEWSWIRES
NEW YORK -- Continuing its recent rising trend, Monday afternoon
Excelon Corp. (EXLN) stock was up 14% from Friday's close and about
60% since the beginning of the month.
An analyst who asked not to be identified attributed the trend to a
favorable review last month by Gartner Group of Excelon's
business-to-business data server platform.
Information about the Gartner report is "starting to filter into the market,"
the analyst said, adding that evidence that institutions are acquiring the issue
may also be attracting additional investors.
Excelon, in business for 12 years with a data management product, earlier
this year broke into the B2B sector with a server platform that can both
create and manage business-to-business commerce sites.
Excelon Corp. (EXLN) spokesman Edward Thomas said the firm's B2B
sector revenues are expected to exceed revenue from the company's more
established business within three quarters, and Excelon will return to
profitability by the fourth quarter of this year.
Cash flow from its traditional data management business is to finance
growth in the B2B sector, where the company says revenue will double to
$40 million by 2001.
In the second quarter ended June 30, the company lost $1.07 million, or 4
cents a share, on revenue of $19.06 million. B2B revenue was $5.4 million.
Hammered along with others in the sector earlier this year, Excelon fell
below $6 in July after a March high of $27.50.
Initially, "we didn't recover as well as the others," said company
spokesman Thomas, "but we've delivered on some promises."
Shares traded recently at $13.57 a share, up nearly 12%, on Nasdaq
volume of 1.3 million. Average daily volume is 388,419 million shares.
(Corrected 09-12-00)
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