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Company Press Release
COMPS.COM Reports Higher Net Revenues and Internet
Revenue Increase In First Quarter
SAN DIEGO--(BUSINESS WIRE)--May 11, 1999--COMPS.COM, Inc. (Nasdaq:CDOT - news) today reported higher net revenues and an increase in Internet-related revenues for the first quarter ended March 31, 1999.
Net revenues for the first quarter ended March 31, 1999 increased to $3.5 million from $3.0 million in the first quarter of 1998. The net
loss attributable to common stockholders in the first quarter 1999 was $1.7 million or ($0.49) per common share, as compared to a net loss attributable to common stockholders of $0.3 million, or ($0.07) per common share in the first quarter of 1998. Preferred stock outstanding prior to the initial public offering which was converted into common stock in conjunction with the Company's initial public offering, has been excluded in computing the loss per share for both quarters.
During the quarter ended March 31, 1999, the Company reported approximately 22% of its revenues were a result of its services and products delivered on the Internet as compared to approximately 2% in the same period of 1998. In addition, during the quarter ended March 31, 1999, the Company reported approximately 13% of its revenues were derived from Internet-related file transfer
protocol (FTP) downloading, resulting in total Internet-related revenues of 35% of net revenues for the first quarter of 1999.
COMPS.COM completed its initial public offering on May 10, 1999, selling 4.5 million shares of common stock and raising net
proceeds of approximately $62.2 million.
COMPS.COM is a national provider of comprehensive commercial real estate sales information both offline and on the Internet. Over
the last 17 years, the Company has developed a highly evolved data collection and confirmation system to provide information on
commercial real estate properties. This information is verified by the Company's researchers and includes sale prices, income and
expenses, capitalization rates, loan data, property photographs, buyers, sellers, brokers and other key details.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or
the future financial performance of the Company. We wish to caution you that these statements are only predictions and that actual
events or results may differ materially. We refer you to the documents the Company files from time to time with the Securities and
Exchange Commission, specifically, the Company's most recent Registration Statement on Form S-1. These documents contain
and identify important factors that could cause the actual results to differ materially from those contained in our projections or
forward-looking statements, including, among others, uncertainty of achieving profitability, little history offering our products over the
Internet, need to continue to develop and offer new products, fluctuations in our quarterly results, volatility of stock price, and future
growth subject to risks. We undertake no obligation to update the statements made in this press release as the facts change.
Please visit the COMPS.COM web site www.comps.com for additional information about the Company, its products and services. |
