INTERNET--(esecurities.W)--April 27, 1999 - [DBCC Competitor] TSCN reports q1 eps $0.03 vs. <$0.08>, Cites GEs NBCs $9.4M Investment.
Telescan Reports First-Quarter 1999 Results; Revenue Rises 56% with Net Income Increase of $1.2 million
Internet-based Revenue Quadruples to 63% of Total Revenue From Year Ago
HOUSTON, April 27 /PRNewswire/ -- Telescan, Inc. (Nasdaq: TSCN - news) today reported record revenue for the period ended March 31, 1999 of $5.3 million, compared with $3.4 million a year earlier, as revenue from Internet-based services again reached record levels, rising $2.5 million to $3.4 million, and soaring to approximately 63 percent of total revenue.
For the first quarter, Telescan reported net income of $352,000, or $0.03 per basic share, compared to a loss of ($872,000), or ($0.08) per basic share in the year earlier period. Reflected in the first quarter results is the growth of Telescan's web-based financial site, Wall Street City® (http://www.wallstreetcity.com), as well as revenue expansion generated from the launch of several marketing initiatives led by Telescan's business partners.
Telescan Chairman and Chief Executive Officer David Brown said, ''Most significant to this watershed quarter was GE's Equity Capital and NBC unit's $9.4 million investment in Telescan, subsequently followed by a three-year licensing agreement between Telescan and NBC, whereby Telescan will provide the personalized technology backbone of the new personal finance portal CNBC.com..."
SOURCE: © 1999 Tuesday April 27, 7:00 am Eastern Time Company Press Release biz.yahoo.com |
