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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (13518)	10/29/1999 4:36:00 PM
From: sandintoes	Read Replies (3) \| Respond to of 28311

But it had to be great minds that brought PA in, right? Today, we're giving the credit to Russell etal.

To: Sarkie who wrote (13518)	10/29/1999 5:54:00 PM
From: Roger Sherman	Read Replies (2) \| Respond to of 28311

YET ANOTHER ARTICLE (Tonight's Seattle Times) Heh Sarkie, Another day, another party!!! Feeling a little better today huh? seattletimes.com ........................................................ Posted at 07:26 a.m. PDT; Friday, October 29, 1999 Go2Net exceeds analysts' estimates by Gordon Black Seattle Times technology reporter Portal Web-site operator Go2Net beat the market's expectations with its fourth-quarter results. The Seattle-based company, in which Microsoft co-founder Paul Allen holds a 34 percent interest, reported a pro forma profit of $5.3 million, equal to 12 cents a share. Analysts' consensus profit estimate was 6 cents a share. A year ago, Go2Net recorded a pro forma profit of $2,156. Sales for the quarter nearly quadrupled to $9.8 million, compared with $2.5 million a year earlier. The strong results boosted Go2Net's stock, pushing it up $7.375, or 12.5 percent, to $66.50 in early trading today. The results were released after the market closed yesterday. Go2Net's cost of acquiring other Web businesses, including search service Dogpile.com, payment processor Authorize.net, as well as other investments and charges, reached nearly $16 million, leading to a net loss for the quarter of $10.7 million, or 37 cents a share. The company had a loss of $390,372, or 2 cents a share, in the fourth quarter last year. For the year, sales reached $22.4 million, more than a 300 percent rise from 1998's $7.1 million. The pro forma results for the year show a profit of $9.5 million, or 24 cents a share. When acquisitions, mergers, stock dividends and other costs are included, the company had a loss of $170.7 million, or $6.44 a share. Go2Net Chief Executive Officer Russell Horowitz said he is pleased with the company's growth. "Our strong financial results reflect the substantial operating leverage inherent in our business model," he said. A new study on Web-site audiences conducted by research firm Media Metrix, found the number of users at Go2Net and other top 20 Web sites declined last month. Audience figures are important to Web sites because advertising rates are based on the number of visitors. Horowitz said the company is focusing on three distinct areas: small business, broadband technologies and vertical portal sites. He said the Internet will divide into niche areas much as cable television has, appealing to specific audiences. "Our view is that this is the sticky application," he said. "By providing depth you begin to create loyal users." Siliconinvestor.com and hypermart.com are two of the specialized Web portals Go2Net has developed; more are expected. Horowitz indicated the company's acquisitions and investments are not over. The company, which has 255 employees, is still hiring workers at a rate of 20 to 30 a month. In the spring, Go2Net is expected to move into renovated offices at Pier 70 on Seattle's waterfront. Copyright ¸ 1999 The Seattle Times Company