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Technology Stocks : Preview Travel (PTVL) ---- Via...Excite & AOL
PTVL 1.3900.0%Jan 21 4:00 PM EST
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To: ian who wrote (311)11/5/1998 11:54:00 PM
From: CanynGirl  Read Replies (1) of 728
 
From Robbie Stephens report:

PREVIEW TRAVEL – TURNING DAYDREAMERS INTO DAYTRIPPERS: Preview Travel
reported Q3 revenue of $5.6 million and a loss of $0.35 per share, above our estimates of $5.2 million and a
loss of $0.38 per share. The company demonstrated progress in many aspects of their business model
including impressive increases in advertising revenues and non-air line related commissions. In addition,
the company announced the divestiture of their television division, a move we applaud as it should enable
the company to focus entirely on the large on-line travel opportunity. We note the company will still have
access to the television group's wealth of travel-related content, which may eventually have more value in a
broadband world. The company is expected to re-launch their site on November 8, which we expect can
further drive improvements in the look-to-book ratio, yielding more rapid revenue growth and margin
improvements. We continue to find the stock attractive long-term, based on Preview's leading position in
the on-line travel market, which we believe can become larger as consumers become more comfortable
booking travel online.
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