I am buying Online Brokerage Stock LINE big today. So far 5000 shares at 8 3/8's. The float is only 2.3 million shares so with the sector waking up I think I will see good returns. LINE has been profitable in past quarters so with the small float it could become an investor favorite soon. I also believe LINE and OMGA are going to merge in May. Here is the latest LINE/OMGA press release:
Omega Research on Pace to Reach 3,000 Paid Subscriber Milestone Just 9 Weeks after Launch of WindowOnWallStreet.com
Company Will Focus Marketing Resources on Increasing Online
Subscribers To Provide Strong Base for Anticipated Future Commission Revenues
MIAMI, Feb. 29 /PRNewswire/ -- Omega Research, Inc. (Nasdaq: OMGA - news), a leading provider of branded real-time trading tools for the online trader, announced today that subscriber growth for its new online service, WindowOnWallStreet.com (www.WindowOnWallStreet.com), has exceeded expectations. The company said that it expects to reach the 3,000 paid subscriber milestone by March 31st, just 9 weeks after launching the new online service on January 25, 2000.
Bill Cruz, co-chairman of the board and co-chief executive officer of Omega Research, said, ``When we launched WindowOnWallStreet.com, we said it would set a new standard in browser-based streaming real-time charts, quotes and news. The speed with which our subscriber base has grown demonstrates the power and value this new online service offers active traders. As a comparison, about two years ago, when leader eSignal launched its Internet service, it took nearly a full year to reach the 3,000 paid subscriber milestone.
``Customer feedback has also been extremely positive, emphasizing the features, benefits and value subscribers feel they are receiving for just $79.95 a month. We believe that WindowOnWallStreet.com subscribers are just the kind of active traders that our new pending merger partner, OnlineTrading.com, intends to serve. The potential lifetime value of many subscribers should go well beyond near-term subscription revenue. After we complete our merger with OnlineTrading.com, and the necessary technical integration, we believe subscription revenues will be dwarfed by potential commission revenues from the integrated direct-access order execution services we can then offer our active trader-subscribers.
``To put this in perspective, CyBerCorp, the direct access broker just acquired by Charles Schwab, recently ranked number nine among all online brokers, posts more than 14,000 trades per day with only 3,000 customers. We believe our online services -- WindowOnWallStreet.com and the upcoming TradeStation.com -- will appeal to the same type of highly active, real-time traders. In addition, we anticipate strong interest in TradeStation.com and OnlineTrading.com from our existing base of over 40,000 TradeStation 2000i and TradeStation 4.0 customers.'
Mr. Cruz noted that Omega Research would now focus the majority of its marketing resources on building subscriber revenue. He added, ``The early success of WindowOnWallStreet.com provides an excellent foundation from which to launch an aggressive marketing effort to build a subscriber base, first for WindowOnWallStreet.com, but ultimately for TradeStation.com when launched later this year.'
Mr. Cruz added that, as disclosed in November 1999, Omega Research continues to anticipate losses over the next several quarters as the company continues its transformation, and that these are expected to accelerate in light of the company's acceleration of its transition to an Internet-based, subscription business model using the competitively-priced WindowOnWallStreet.com.
Earnings Conference Call
At 8:15 a.m. Eastern Time today, the management of Omega Research will conduct an analyst conference call to discuss the company's fourth quarter and year-ended December 31, 1999 financial results and provide a progress report on the launch of WindowOnWallStreet.com. The telephone conference will be broadcast live via the Internet at www.OmegaResearch.com and at www.vcall.com . A rebroadcast of the call will be accessible from the company's website, www.OmegaResearch.com , and at www.vcall.com , from approximately 11:30 a.m., February 29, 2000, to approximately 11:30 p.m., March 3, 2000.
About Omega Research
Founded in 1982, Omega Research, Inc. is a leading provider of branded real-time trading tools for the online trader.
Omega Research's principal client software products currently include TradeStation©2000i, OptionStation©2000i, RadarScreen(TM)2000i, and Omega Research ProSuite(TM)2000i. Omega Research's 2000i line of software products is compatible with the following real-time Internet and broadcast data services: Data Broadcasting Corporation's (Nasdaq: DBCC - news) eSignal (Internet), InSite (Internet), and BMI (Broadcast); Data Transmission Network (Nasdaq: DTLN - news) DTN Real Time and DTNstant (Broadcast); and Hyperfeed Technologies, Inc.'s (formerly PC Quote, Inc.) (Nasdaq: HYPR - news) Hyperfeed(TM) (Internet and Broadcast). With the click of a mouse, the 2000i products can use the Internet to access the on-line brokerage services of E*Trade (Nasdaq: EGRP - news) and Wall Street Access.
WindowOnWallStreet.com, the company's new online service, offers traders award-winning tools including powerful analytical charting, Nasdaq Level II, time & sales, quote lists, option chains, market leaders, streaming news, Internet SmartSearch, live ticker, portfolio management, Profit/Loss tracking, discussion forums, and wireless access. Window On WallStreet and its Financial Data Cast Network(TM) (FDCN) were acquired by Omega Research in late October 1999 as part of the company's evolving Internet strategy. FDCN is widely recognized as one of the Internet's most sophisticated streaming real-time quote services. For additional information and to register for the service with a free 10-day trial, visit www.WindowOnWallStreet.com . The company also offers WindowOnWallStreet.com to third-party partners as a business-to-business solution.
Later this year, Omega Research intends to launch TradeStation.com, which the company believes will be the Internet's first decision support portal dedicated to serving the needs of the active trader. TradeStation.com will combine all the strategy development, back-testing and automation of TradeStation with the streaming real-time delivery of market information and other features and functions incorporated in WindowOnWallStreet.com. Omega Research intends to support the launch of TradeStation.com with aggressive advertising and promotion.
On January 20, 2000, Omega Research and OnlineTradinginc.com Corp. (Nasdaq: LINE - news), a leading direct access online broker for active traders, announced a definitive agreement to merge the two companies in an all-stock combination. The consummation of the merger is subject to satisfaction of certain conditions, including, without limitation, approval by the shareholders of each Omega Research and OnlineTradinginc.com Corp., NASD regulatory requirements, and the registration of the new holding company's shares with the SEC and the listing of such shares with The Nasdaq National Market. The strategic combination of these two companies is expected to create a seamlessly integrated trading platform that will, for the first time, deliver a complete solution to the active online trader: powerful decision-support analytics, streaming real-time market quotes and news, and direct access online order execution.
Visit the Omega Research web site at www.OmegaResearch.com .
This press release contains statements that are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release the words `believes,' ``plans,' ``estimates,' ``expects,' ``intends,' ``anticipates,' ``may,' ``will,' ``should,' ``could,' ``upcoming' and similar expressions, to the extent used, are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results may differ materially from the results suggested herein. Factors that may cause or contribute to such differences include, but are not limited to, the pace of WindowOnWallStreet.com paid subscriptions decreasing, given the short period of time in which such pace has been determined, the company's ability to continue to effectuate its Internet strategy and to develop and successfully market the products and services described in this press release (and the costs associated therewith); their acceptance in the marketplace; technical difficulties or errors in the products and/or services; market pressure to lower substantially or eliminate pricing on the types of Internet subscription services described as a result of such services being provided at low or no additional costs by brokerages, financial institutions and other financial companies to their customers, or for other market reasons; the company's customer and active prospect base containing a substantially lower number of interested subscribers than the company anticipates; the failure to consummate the pending merger with OnlineTrading.com at all (or on a timely basis) due to regulatory issues or other reasons; difficulty integrating the two companies from technology, operational and marketing aspects; potential NASD or other broker-dealer regulatory issues arising from the merger and/or the conduct of a brokerage business; the success (and cost) of new marketing strategies as a result of the merger; the company's future participation in any merger or other strategic alliance; unfavorable critical reviews; increased competition (including product and price competition); the level of market demand for real-time decision support tools, real-time data and/or on-line brokerage services and/or website services generally; the scalability, performance failures and reliability of the Financial Data Cast Network; the entrance of new competitors into the market; the company's ability to develop relationships with third parties to execute its business-to-business strategy; timing and significance of additional new product and service introductions by the company and its competitors; general economic and market factors, including changes in securities and financial markets; the adequacy of working capital, cash flows and available financing to fund the new business model; and other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission including, but not limited to, Omega Research's December 31, 1998, Annual Report on Form 10-K as well as other press releases, particularly those released during and subsequent to the 1999 third quarter.
SOURCE: Omega Research, Inc.
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