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Technology Stocks : Spyglass -- Ignore unavailable to you. Want to Upgrade?

To: BayTay who wrote (1136)	10/21/1999 11:29:00 PM
From: Boplicity	Read Replies (1) \| Respond to of 1412

Spyglass Surges After 4th-Qtr Profit, Revenue Rises Naperville, Illinois, Oct. 21 (Bloomberg) -- Shares of Spyglass Inc., a maker of Internet software for cellular phones and other devices, surged 51 percent after its fiscal fourth- quarter revenue rose 49 percent and it posted a profit. Spyglass rose 4 15/16 to 14 11/16. It said late yesterday that it earned $335,000, or 2 cents a share, for the quarter ended Sept. 30 compared with a loss of $672,000, or 5 cents, in the year-earlier quarter. Revenue rose to $9.2 million from $6.2 million. Spyglass, which created one of the first World Wide Web browsers for personal computers, now makes software that lets people connect to the Internet through devices such as televisions and wireless phones. Spyglass has sought to boost revenue from services so that it's less dependent on software sales because the market for Internet-connected devices, while growing, is still small and unpredictable. ''We believe it's still the very early stage of adoption'' for such devices, Chief Financial Officer Gary Vilchick said in an interview. ''We're moving toward a model with a large services component as well as licensing.'' Spyglass said software revenue rose to $4.94 million from $2.95 million in the year-earlier quarter, while services revenue rose to $4.2 million from $3.2 million. Even with today's surge, the company's shares have fallen 33 percent so far this year. It has a market value of about $242 million, well below two rivals that are losing money. Liberate Technologies Inc., which reported revenue of $5.3 million for its fiscal first quarter ended Aug. 31, has a market value of $2.1 billion. Phone.com Inc., which had revenue of $6.7 million for its fiscal fourth quarter ended June 30, is worth $7.8 billion. Liberate first sold shares to the public in July at $16 each, while Phone.com went public in June, also at $16 each. ''Both have less in terms of revenue and both are losing money,'' said Vilchick. ''It's tied to an IPO frenzy. If Spyglass had gone private and then public, and if you look at (Liberate and Phone.com's) performance, we ought to be carrying a four to six billion market cap.'' Phone.com shares rose 18 9/16 to 248 9/16, while Liberate Technologies gained 3/4 to 50 1/2.