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Technology Stocks : Edify (EDFY) IPO -- Any Comments? -- Ignore unavailable to you. Want to Upgrade?

To: mark who wrote (336)	7/22/1999 1:17:00 PM
From: tuck	Respond to of 355

mark, A little news on the small competitiors, courtesy of the Internetanalyst.com: Online Banking: Picking up the Pace By John Filar Atwood The developing market for online community banking appears to be picking up speed, with NFRONT (NFNT) and ONLINE RESOURCES & COMMUNICATIONS (ORCC) setting the pace with successful June deals, and DIGITAL INSIGHT (DGIN - proposed) expected to follow later this summer. Only 5% of the 22,000 community banking institutions in the United States offer Internet services, according to analysts. That leaves a huge opportunity for firms that outsource Internet services to community banks. NFRONT, which has been endorsed by the trade group American Bankers Association, offers a complete Web-based financial center, which banks can use to quickly give their customers online services. The company posted revenue of $1.08 million in fiscal 1998, and $2.83 million for the nine months ended March 31, 1999. The company's stock climbed to $21.62 in early trading on July 15, substantially above its June 29 offer price of $10. It has a market cap of $305.2 million. Taking a different approach, ONLINE RESOURCES & COMMUNICATIONS generates revenue mainly through long-term service contracts. The firm's top line increased 51.6% in 1998 to $4.3 million, from $2.9 million the previous year. The company went public June 4, and its shares were trading at $15 in the early afternoon of July 15, after being initially priced at $14. DIGITAL INSIGHT, which registered its IPO June 25, provides real-time Internet banking services to community institutions. The company recorded revenue in 1998 of $8.23 million, more than double the $3.97 million posted in 1997. I suppose that if we're being diligent, we should check the websites of these new players, and see if they're getting any significant deals or offering anything better. Most likely, they're just targeting small banks, on the theory that the ebanking software and servisces market is big enough for a number of players, and they think they can be one or them. Guess I'll get started. See y'all soon. Damn the Market Makers! Full Speed Ahead! John Tuck Jones