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Technology Stocks : Net2Phone Inc-(NTOP) -- Ignore unavailable to you. Want to Upgrade?

To: DavidH who wrote (856)	12/13/1999 5:46:00 PM
From: Herschel Rubin	Read Replies (2) \| Respond to of 1556

Net2Phone Reports First Quarter Results biz.yahoo.com Monday December 13, 4:53 pm Eastern Time Company Press Release Company Records $13.1 Million in Quarterly Revenues and Loss of $0.11 EPS HACKENSACK, N.J.--(BUSINESS WIRE)--Dec. 13, 1999--Net2Phone Inc. (NASDAQ: NTOP - news) today reported net revenues totaling $13.1 million for the first quarter fiscal year 2000 ended October 31, 1999, more than double the net revenues of $5.7 million for the first quarter FY1999 and a 19% increase over the prior quarter revenues of $11.1 million. Net loss before non-cash compensation expense for issuance of stock options for the first quarter of 2000 was ($5.4) million or ($0.11) per share, as compared to a net loss of ($1.2) million or ($0.04) per share for the first quarter of 1999 and ($3.9) million or ($0.12) per share in the prior quarter. EBITDA for the first quarter was ($5.7) million or ($0.12) per share as compared to EBITDA of ($0.9) million or ($0.03) per share for the same quarter year-ago, and ($2.5) million or ($0.08) per share in the fourth quarter of fiscal year 1999. Gross margins in the quarter expanded to 48.0% as compared to 40.8% in the same quarter year-ago and up from 46.0% in the prior quarter. Depreciation for the first quarter was $0.9 million as compared to $0.3 million in the same quarter year-ago, and $1.1 million for the prior quarter. ``The past few months have been filled with good news both on the distribution end and the product end,' said Howie Balter, CEO of Net2Phone. ``We received great reviews of our new multifunctional software, plus we've signed up new distribution agreements with the best Internet companies on the market today, such as America Online, CompuServe, Priceline.com, and Go2Net. We expect that our new software, combined with the strong distribution agreements, will make voice the new standard on the Net.'