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Technology Stocks : Inktomi (INKT) -- Ignore unavailable to you. Want to Upgrade?

To: FastC6 who wrote (1473)	7/14/1999 4:40:00 PM
From: Millionairess	Read Replies (2) \| Respond to of 1945

SAN MATEO, Calif. (CBS.MW) -- Inktomi tacked on another solid quarterly performance Wednesday as the Internet software sensation surpassed analysts' expectations by reporting narrower-than-expected losses thanks to a three-fold surge in sales. "Wow," said David Hilal, an Internet analyst at Friedman, Billings, Ramsey & Co. "It was an extremely strong quarter along its core businesses." "It provides further evidence that the company continues to execute in all of its key businesses, which include portal services and network products," said Robert Fagin, an Internet analyst at Bear Stearns. After the market closed, the San Mateo, Calif. reported a loss of $6.3 million. Excluding one-time acquisition charges, operating losses came in at $5.2 million, or 10 cents a share vs. a 13-cent loss in the year-ago period and narrower than the 12-cent loss expected by the Street. Quarterly sales shot up to $19.6 million, beating sales projections by 14 percent and up from $6.3 million a year ago and $14.6 million in the previous quarter. Sales from Inktomi's network products, which includes the fast-growing caching software, grew 286 percent. Portal service sales grew 141 percent. On the news, shares of Inktomi (INKT: news, msgs) were barely changed in after-market trading on Instinet. The stock rose 3 5/16 to 128 7/8 in regular trading. Key metrics Inktomi's report didn't include how many search queries the company served. Analysts are expecting 2.5 billion, up from 2.2 billion in the first three months of the year. The solid results came the same day Inktomi announced that it deepened its alliance with British Telecom. BT will deploy Inktomi's Traffic Server network cache to deliver next-generation Internet services in Europe. Separately, Alan Braverman, an Internet analyst at Banc of America Securities, initiated coverage on Inktomi with a "buy" rating and a $170 price target.