Rocki, look at this head line compared to my next post.
(COMTEX) B: BCE Emergis posts huge loss on special writeoffs while re
B: BCE Emergis posts huge loss on special writeoffs while revenues rise
MONTREAL, Oct 23, 2000 (The Canadian Press via COMTEX) -- The electronic
commerce division of telecom giant BCE Inc. posted a huge net quarterly loss
Monday as the costs of acquisitions dragged down the company's bottom line. BCE
Emergis Inc. said it lost $83.3 million in the three months ended Sept. 30,
compared with a loss of $5.5 million in the same period last year. The red ink
resulted from acquisition-related amortization costs and future income tax
benefits.
The loss per share rose to 90 cents from seven cents.
Revenues, however, soared 171 per cent to $132 million and the Montreal-based
company said it expects continued strong growth in the coming quarters as it
expands links with key North American corporate customers.
"We achieved record revenue levels, with solid growth over the third quarter
last year as well as over the second quarter this year," chief executive Brian
Edwards said in a release.
"This revenue growth is supported by the high percentage of recurring
transaction revenues, which continue to exceed 85 per cent of total revenues,
and includes U.S. revenues which continue to be an important component. In
addition, our operational performance, as measured by net earnings from
operations and (cash flow) demonstrates very significant progress."
BCE Emergis shares fell $1.85 to $66 on the Toronto stock market Monday.
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KEYWORD: MONTREAL
SUBJECT CODE: business
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