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Technology Stocks : VerticalNet, Inc. [VERT] -- Ignore unavailable to you. Want to Upgrade?

To: Yak-attack who wrote (389)	10/22/1999 4:15:00 PM
From: HarveyO	Read Replies (1) \| Respond to of 1094

Robertson Stephens Reiterates Buy Rating on VERT SAN FRANCISCO, Oct 22, 1999 (BUSINESS WIRE) -- Robertson Stephens Managing Director and Senior Business-to-Business (B2B) eCommerce Analyst Eric B. Upin today reiterated his Buy rating on VerticalNet (NASDAQ:VERT). VerticalNet, headquartered in Horsham, Penn., is a B2B eCommerce company that operates a portfolio of highly focused, vertical-trade communities on the Internet. "We are reiterating our Buy rating on VerticalNet, following the company's announcement of strong-third-quarter-financial results, said Upin. "The company reported revenues of $5.2 million, representing 478 percent growth year-over-year and 46 percent growth sequentially, exceeding our estimate of $4.6 million. Operating earnings-per-share came in at ($0.29), ahead of our ($0.32) estimate and consensus of ($0.31)." "We believe the company is putting the pieces in place for eCommerce growth going forward. In the quarter, the company added vertical sites, advertising customers, commerce revenues and strategic partnerships," said Upin. "We believe VerticalNet is solidly executing on its vision of building large communities and converting these populations to commerce." Clients interested in receiving more information should contact their salesperson at (415) 781-9700. BancBoston Robertson Stephens Inc. ("Robertson Stephens") is the leading full-service investment bank focused exclusively on growth companies. To date in 1999, the firm has completed over 130 public offerings and over 30 private offerings, raising more than $26 billion in capital for clients. The firm's 47 research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens is a section 20 subsidiary of Fleet Boston Corporation (NYSE: FLT) and a member of the NASD and all major exchanges. Together, Robertson Stephens, BancBoston Robertson Stephens International Ltd., and Robertson Stephens Evergreen Securities Ltd. employ over 1,000 employees worldwide with offices in Boston, San Francisco, New York, Menlo Park, Chicago, London, and Tel Aviv. For more information about the firm, please visit our Web site at www.rsco.com.