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To: Connor26 who wrote (84200)	2/23/2000 5:19:00 PM
From: Frederick Langford	Read Replies (2) \| Respond to of 120523

GetThere.com Announces Record Fourth Quarter Financial Results Revenues Increase 187 Percent from Previous Year; Company Adds Major Corporations to Company's B2B Travel Exchange MENLO PARK, Calif., Feb. 23 /PRNewswire/ -- GetThere.com (Nasdaq: GTHR), a leading provider of Internet-based solutions for business-to-business travel procurement and travel suppliers, today reported financial results for its fourth quarter and fiscal year ended Jan. 31, 2000. Total revenues for the fourth quarter were a record $5.5 million, up 26 percent from $4.4 million in revenues reported in the third quarter of fiscal 2000 and up 187 percent from $1.9 million reported in the fourth quarter of fiscal 1999. Gross margin for the fourth quarter was 30.4 percent, up from 28.3 percent reported in the third quarter of fiscal 2000. Net loss for the fourth quarter excluding amortization of stock-based compensation and intangible assets related to equity issuances was $6.3 million, or a loss of $0.21 per share on a pro forma basis. The net loss including these costs was $13.4 million or a loss of $0.44 per share on a pro forma basis. The number of transactions for the fourth quarter was 425,000, up 162 percent from 162,000 in the fourth quarter of fiscal 1999, and down 2 percent from 433,000 in the third quarter of fiscal 2000. The slight decrease in transactions from Q3 to Q4 reflects the seasonality inherent in November and December travel bookings, as well as the impact of Y2K. The impact was less than expected in these seasonally slow months, and January delivered a record number of transactions. For the year, the company processed 1.4 million transactions on the GetThere Exchange(TM). This represents a 173% increase over the 513,000 transactions processed in fiscal 1999. For the year, total revenues were $15.5 million, up 140 percent from the $6.4 million reported in the previous year. Net loss for fiscal year 2000 excluding amortization of stock-based compensation and intangible assets related to equity issuance was $24.8 million compared with $13.6 million reported in fiscal year 1999. Pro forma net loss per share for the year, excluding amortization of stock-based compensation and intangible assets related to equity issuances, was $0.84 on approximately 29.4 million shares. Pro forma net loss per share, including these costs, was $1.63, compared with $0.55 on approximately 28.3 million shares in fiscal 1999. Pro forma net loss per share amounts assume conversion of preferred shares to common at the beginning of the period and that common shares issued in the Initial Public Offering and warrants that have been exercised were outstanding for all of 1999. "Our strong fourth quarter results continue to extend our leadership in the business-to-business travel procurement services market," said Ken Pelowski, chief operating officer and chief financial officer of GetThere.com. "During the quarter we added more than 16 new corporate customers including MetLife, Qualcomm, Warner Lambert and Softbank/Ziff-Davis. Air New Zealand and Alitalia joined the roster of leading airlines using GetThere.com's GetThere Exchange(TM) platform for Internet travel booking. To further strengthen our offering, we also announced an agreement with Phone.com to provide the next level of Web-based travel services through Internet ready mobile phones."