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Technology Stocks : InfoSpace.com

INSP 85.16

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Nov 4 3:59 PM EST

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To: 10K a day who wrote (3015)	10/24/2002 4:47:29 PM
From: Don Green	Read Replies (1) of 3070

InfoSpace Inc. Thursday, October 24, 2002 InfoSpace is cutting 90 jobs -- the third major layoff in the past two years -- as the struggling Internet company tries to cut costs in order to achieve profitability sooner. The Bellevue company, which delivers stock quotes, horoscopes and other content to Web sites and wireless devices, reported a loss of $26.4 million during the third quarter. That compares with a loss of $204.7 million for the same period last year. Revenue for the quarter was essentially flat at $33.5 million. InfoSpace finished the quarter with $134 million in cash and cash equivalents. The company will employ 630 people after the cuts, which primarily occurred in the wireless, speech and platform groups. "The move reflects our ongoing effort to reach profitability, streamline operations and renewed emphasis on product and service areas with the highest revenue-generating potential," spokesman Steve Stratz said. Related URL: infospace.com

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