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

To: Shtirlitz who wrote (1139)	10/22/1999 7:38:00 AM
From: Lane Hall-Witt	Read Replies (2) \| Respond to of 1412

Dow Jones Newswires -- October 21, 1999 interactive.wsj.com [Comment: It certainly appears that SPYG is trying to be aggressive about getting the Street's attention -- with the company's valuation so out of whack relative to PHCM and LBRT. This is a two-edged sword. It's obviously good that management is focused on sharholder value and is working to move the stock up to the kind of valuation it warrants, but this can backfire if they seem too focused on day-to-day strock issues and insufficiently attentive to longer-term business fundamentals. Regardless, it's great to see that the financial press has rediscovered SPYG: CNBC, Bloomberg, Reuters, and Dow Jones have all given the company glowing coverage over the past couple of days.] DJ Spyglass Up 46% In Delayed Reaction To 4Q Results By Joelle Tessler NEW YORK (Dow Jones)--Spyglass Inc. (SPYG) shares are up more than 50% in what Chief Financial Officer Gary Vilchick called a delayed reaction to the release of strong fiscal fourth quarter results Wednesday morning. Vilchick said the stock is also climbing as investors realize that Spyglass is in the same business as two recent hot IPOs, Phone.com Inc. (PHCM) and Liberate Technologies (LBRT). Spyglass develops technology to deliver Web content to "information appliances" such as televisions, cell phones and other non-PC devices. According to one source, investors are particularly excited about Spyglass' exclusive agreement to license Nokia Corp.'s (NOKA) "wireless application protocol" microbrowser to makers of mobile phones, personal digital assistants and other devices that rely on wireless connections. Spyglass early Wednesday reported earnings of 2 cents a share on $9.19 million in revenue for its fiscal fourth quarter, ended September, compared with break-even results on $6.16 million in revenue a year earlier. The results were one penny above the consensus estimate. Vilchick stressed that Spyglass has something that is rare in the Internet world: earnings. Excluding acquisition-related costs, Spyglass has been profitable for the past three quarters, he noted. Still, the company's valuation lags behind those of Phone.com and Liberate -- a discrepancy that Vilchick attributes to the fact that those two companies went public amid the Internet IPO boom. "The latest and greatest is where the money seems to move," he said. Spyglass, on the other hand, started out several years ago as one of the early players in the Web browser market and is now seen by many as an old-timer in the Internet business. The company developed the first commercial browser -- Mosaic -- but has rebuilt its business around the device market over the past several years. It is a market, Vilchick said, that many doubted was for real several years ago, but that is now taking shape. "It is a market that is just beginning to materialize, but has tremendous growth potential," he said. Spyglass' shares jumped 4 15/16, or 50.6%, to close at 14 11/16 on heavy Nasdaq volume.