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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (67034)	10/21/1999 10:59:00 AM
From: Riley	Read Replies (1) \| Respond to of 90042

HHNT, reports record earnings... Headhunter.net Announces Record Third Quarter; Revenues Rise 638% to $2.9 (Business Wire 10/21 06:24:32) Million Business Editors ATLANTA--(BUSINESS WIRE)--Oct. 21, 1999--Headhunter.net, Inc. (Nasdaq/NM:HHNT) today reported record revenues and customers for the third quarter and nine months ended September 30, 1999. Net revenue for the third quarter rose to $2.9 million compared with net revenue of $393,000 in the third quarter a year ago, a 638% increase. Third quarter revenues were $1.3 million greater than the second quarter of 1999, an 81% sequential growth rate. The Company reported a net loss of $1.8 million, or $0.19 per share, for the third quarter of 1999 compared with a net loss of $1.9 million, or $0.85 per share, for the comparable quarter last year. "Headhunter.net`s strong third quarter growth was fueled by a significant increase in our customer base," stated Robert M. Montgomery, Jr., president and chief executive officer of Headhunter.net. "With the proceeds from our initial public offering in mid-August, we accelerated our sales and marketing programs, which resulted in over 1,100 new customers during the third quarter. In addition, we`re building a strong base of recurring revenue, as evidenced by our average customer revenue rising over 33% from the second quarter of this year." Headhunter.net opened four additional sales offices during the quarter in Chicago, New York, Dallas and San Francisco, with plans to open additional sales offices in Los Angeles, Boston and Washington, D.C. over the next two quarters. Sixteen persons were added to the Headhunter.net sales team during the third quarter, for a total of 48 at September 30, 19