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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: red_dog who wrote (62468)	9/22/1999 5:47:00 AM
From: puborectalis	Respond to of 120523

LYCOS future may be in the hands of.......Bertelsmann sees strong growth in U.S. GUETERSLOH, Germany, Sept 22 (Reuters) - German media giant Bertelsmann AG on Wednesday posted a 13 percent rise in group consolidated revenues for the 1998/99 fiscal year and said that for the first time its U.S. operations had made the largest contribution. The group said it was confident that strong growth would continue in the United States. ''In the long run the potential in the U.S. is very strong,'' said Siegfried Luther, Bertelsmann's chief financial officer. Bertelsmann's U.S. operations generated nine billion marks ($4.8 billion) in revenues in 1998/99, an increase of two billion marks from the previous year. Overall, the group reported consolidated revenues of 26 billion marks from 22.9 billion in the year-ago period and raised net profit 2.6 percent to 910 million marks. Bertelsmann said that the rise in revenues was mainly due to an increase in the revenue stream from acquisitions. Revenues in Germany in the period under review rose to 7.3 billion marks, an increase of 287 million marks from 1997/98. Other European countries contributed 1998/99 revenues of 7.7 billion marks, while revenues from the rest of the world amounted to two billion marks. ($1 equals 1.860 Mark)