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Technology Stocks : Gateway (GTW) -- Ignore unavailable to you. Want to Upgrade?

To: Yve$ who wrote (7382)	10/20/1999 11:41:00 PM
From: Charles W. Breaux, Jr.	Read Replies (1) \| Respond to of 8002

To all: Summary of today's earnings release: siliconinvestor.com Gateway said its net income rose 40 percent to $113.2 million, or 35 cents a share, from $80.6 million, or 25 cents a share on a split adjusted basis. The Wall Street consensus forecast was for earnings of 34 cents a share, according to First Call/Thomson Financial. Revenues rose 20 percent to $2.18 billion from $1.8 billion. "We had a very solid third quarter," Gateway's Chief Executive Officer Ted Waitt told a conference call. And other interesting news: The San Diego-based company also announced a partnership with America Online Inc. (NYSE: AOL), in which the nation's biggest Internet service provider will invest $800 million in Gateway and bundle its Web service into its PCs... "What you have is two of the most trusted brands coming together to make the Internet a better place to live, work and play," Waitt said. We've got a shared vision of where the Internet is going and what role it's going to play in people's lives."...America Online is to invest $800 million, including $180 million in its stock, in Gateway, which is spend to $85 million to market software, products and services on America Online's services. The companies are also creating a co-branded online software store... Gateway will maintain its Gateway.net service, seeing enough room in the market for both it and America Online's service, which boasts 18.7 million users, Weitzen told a conference call..."We will share customers, we will share operating profits on those customers, we will share in the software store," Weitzen said. Good investing! Chuck