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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: oilbabe who wrote (4785)	10/11/1999 6:40:00 AM
From: oilbabe	Respond to of 10027

Release Part 2: The marketplace underwent a fundamental shift in the third quarter of 1999 compared to the first six months of the year. During the past quarter, there were decreased trading volumes and volatility as a result of lower retail volume and greater than expected seasonality in the marketplace," said Kenneth D. Pasternak, the Company's President and Chief Executive Officer. "This fundamental shift in the marketplace, coupled with changes made in our execution methodologies to provide enhanced price improvement to our customers, resulted in decreased volume and profitability metrics from the second quarter of 1999." "Our revenues, number of trades executed, shares traded and pre-tax profits for the third quarter 1999 will demonstrate strong year-over-year gains. We remain committed to our business model and industry leading execution criteria -- providing our customers with immediacy, enhanced liquidity and price improvement. These core competencies will prove to be very successful in two new strategic business opportunities, the options and international equities markets. We are highly confident that Knight will continue to experience year-over-year increases in volumes and earnings in excess of 30 percent as it diversifies its revenue stream and expands its market share." Knight/Trimark, headquartered in Jersey City, N.J., is the parent company of Knight Securities and Trimark Securities. Knight Securities makes markets in over 7,100 equity securities listed on Nasdaq and on the OTC Bulletin Board (OTCBB) of the National Association of Securities Dealers (NASD). Trimark trades NYSE- and AMEX-listed equity securities over the counter -- the Third Market. As the number one destination for on-line trade executions, Knight/Trimark is the processing power behind the explosive growth in securities trading via the Internet. The four-year-old company employs more than 580 people worldwide with offices in Jersey City, N.J.; Jericho and Purchase, N.Y.; Chicago, Ill.; Boston, Mass.; and London, England.

To: oilbabe who wrote (4785)	10/11/1999 7:26:00 AM
From: the dodger	Read Replies (1) \| Respond to of 10027

As if this isn't bad enuf...how long can it be before Zurdo is back with "his opinion"...

To: oilbabe who wrote (4785)	10/11/1999 8:07:00 AM
From: gbh	Read Replies (1) \| Respond to of 10027

This warning certainly brings into question the issue of trust in this management. I know KP has gotten the benefit of the doubt on the thread, but the quarter has been closed for 10 days. Its doubtful now that the analysts were "steered" downward. And if they were, he certainly did a poor job. Its hard to see how the "change in trading methodologies" could surprise to this extent without management having some inkling at a much earlier date. It will be interesting to see what impact advertising had on the bottom line. I hope someone questions this expense in the conference call. For a "behind the scenes" company, I still see little or no benefit to shareholders in this spending. I'll state again that this money would be better spent (if it has to be spent at all) in subsidizing the affiliated OLBs advertising expense. Gary