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Technology Stocks : First Virtual Corporation (FVCX) -- Ignore unavailable to you. Want to Upgrade?

To: tech101 who wrote (300)	1/29/2000 2:15:00 PM
From: Carey Thompson	Read Replies (1) \| Respond to of 323

financial statements related to the year end report. FVC. COM, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data; unaudited) Three months ended Twelve months ended December 31 December 31 1999 1998 1999 1998 Revenues $13,046 $5,196 $45,700 $37,251 Cost of revenues 11,529 2,374 28,851 19,220 Gross profit 1,517 2,822 16,849 18,031 Operating expenses: Research and development 2,578 2,797 10,170 9,463 Selling, general and administrative 6,916 3,326 21,633 11,878 Acquired in-process research and development -- -- -- 4,664 Total operating expenses 9,494 6,123 31,803 26,005 Operating loss (7,977) (3,301) (14,954) (7,974) Other income (expense), net 182 139 646 (42) Minority interest in consolidated subsidiary (90) -- (20) -- Net loss $(7,885) $(3,162) $(14,328) $(8,016) Proforma net loss excluding non-recurring charge $(1,555) $(7,998) Net loss per share: Basic and diluted $(0.47) $(0.20) $(0.87) $(0.69) Proforma net loss per share: Basic and diluted $(0.09) $(0.49) Shares used to compute net loss per share: Basic and diluted 16,792 15,767 16,433 11,541 FVC.COM, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands; unaudited) December 31, December 31, 1999 1998 ASSETS Current assets: Cash and cash equivalents $997 $10,315 Short-term investments 7,824 16,433 Accounts receivable 14,066 11,221 Inventory 8,104 6,053 Prepaids and other current assets 2,866 1,241 Total current assets 33,857 45,263 Property and equipment, net 2,880 2,400 Other assets 3,462 3,502 $40,199 $51,165 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Notes payable $-- $1,300 Current portion of long-term debt 143 137 Accounts payable 6,968 5,045 Accrued expenses 3,123 1,937 Deferred revenue 1,745 3,905 Total current liabilities 11,979 12,324 Long-term debt, net of current portion 85 228 Minority interest in consolidated subsidiary company 323 -- Stockholders' equity: Common stock 17 16 Additional paid-in capital 65,015 61,649 Notes receivable from stockholders (321) (502) Accumulated other comprehensive loss (21) -- Accumulated deficit (36,878) (22,550) Total stockholders' equity 27,812 38,613 $40,199 $51,165 SOURCE: FVC.COM

To: tech101 who wrote (300)	2/29/2000 10:53:00 AM
From: Carey Thompson	Read Replies (1) \| Respond to of 323

Here's is some additional business with Qwest. Qwest Selects FVC.COM Video Services Solution Companies Usher in New Era of Two-Way Video Communications Over the Broadband Internet biz.yahoo.com SANTA CLARA, Calif., Feb. 29 /PRNewswire/ -- FVC.COM (Nasdaq: FVCX - news), the world leader in broadband video networking, today announced it has been chosen by Qwest Communications International Inc. to support its Internet Protocol (IP)-based video services offering to customers. This is the first customer for FVC.COM's Video Portal service offering. Qwest has bundled FVC.COM's two-way video services into an innovative IP conferencing service. The result of the collaboration means that with a simple point-and-click, Qwest customers who purchase the service will be able to make two-way video calls as easily as surfing the Web and without the burden of high start-up costs often associated with videoconferencing schemes of the past. The IP conferencing services are delivered using FVC.COM's Video Operations Center, Web-based Video Portal and the extensive range of broadband video systems developed by FVC.COM during the past five years. The Video Operation Center provides management, security and billing for video calls, video meetings and video broadcast. The services are accessed using FVC.COM's Video Portal, a browser-based interface that brings video applications directly to the desktop. ``Qwest selected FVC.COM to support its video strategy because they are a proven leader in this market and have the ability to scale to accommodate thousands of subscribers and a broad range of services,' said Lew Wilks, Qwest president of Internet and multimedia markets. ``Qwest continues to lead the market by aggressively introducing new services to the business user.' ``By combining Qwest's high-speed broadband services with FVC.COM's video infrastructure and expertise, we are making a quantum leap forward in making two-way video cost-effective and reliable to the enterprise,' said Rich Beyer, president and chief executive officer of FVC.COM. ``FVC.COM and Qwest are ushering in a new era of enterprise video applications, positioning video to become as important to the enterprise as voice and data are today.' Qwest and FVC.COM have defined a multi-phase agreement to develop and deliver IP-based two-way video services, several components of which are already underway. The parties intend to enter into a definitive agreement regarding the final phase of this collaboration. About FVC.COM FVC.COM, the world leader in broadband video networking, designs, manufactures and supports a wide range of high quality two-way and streaming video systems and service offerings that enable applications such as broadband Internet based video calls, conferences, mail and events. These services are designed to video-enable a broad range of Internet commerce portals. FVC.COM's strategic partners include Accord, Alcatel, Ameritech, Bell Atlantic, British Telecommunications plc, Cisco Systems, Inc., EDS, France Telecom, Nortel Networks, Polycom, Shanghai Telecom, Telstra, White Pine Software and other leading companies worldwide. Further information about the Company is available at fvc.com. Cautionary Statement Except for the historical information contained herein, this news release contains forward-looking statements, including, without limitation, statements containing the words, ``believes,' ``anticipates,' ``expects' and words of similar import. Such forward-looking statements have known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of FVC.COM, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of FVC.COM to negotiate a definitive agreement with Qwest, FVC.COM's limited operating history and variability of operating results, market acceptance of video technology, dependence on ATM backbone technology, potential inability to maintain business relationships with distributors, suppliers, telecommunications carriers, rapid technological changes, competition in the video networking industry, the importance of attracting and retaining personnel, management of FVC.COM's growth, consolidation and cost pressures in the video networking industry, and other risk factors referenced in FVC.COM's public filings with the Securities and Exchange Commission, including the company's report on Form-10 K for the fiscal year ended December 31, 1998. SOURCE: FVC.COM Copyright ¸ 2000 Yahoo! All Rights Reserved. Privacy Policy - Terms of Service Copyright 2000 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Questions or Comments?