FNT earnings out! Internet stock with revenues up 298%!!!
Frontline Communications Corp. Announces 1999 Results
PEARL RIVER, N.Y.--(BUSINESS WIRE)--March 28, 2000--Frontline Communications Corp. (AMEX: FNT),
www.frontline.net, today announced financial results for the year ended December 31, 1999.
Revenues for the three months ended December 31, 1999 increased by 297.9% to $815,628 compared with revenues of
$204,992 for the three months ended December 31, 1998. For the three months ended December 31, 1999, the Company
had a net loss of $1,864,134, or $.47 per share, compared to a loss of $1,134,013 or $.37 per share for the three months
ended December 31, 1998.
Revenues for the year ended December 31, 1999 increased by 417.5% to $2,975,213 compared with revenues of $574,964
for the year ended December 31, 1998. For the year ended December 31, 1999, the Company had a net loss of $6,757,258
or $1.90 per share, compared to a loss of $1,744,099 or $.72 for the year ended December 31, 1998. Operating results for
1999 include an acquisition-related charge of $280,000 and a non-cash compensation charge of $754,220. Operating results
for 1998 include a non-cash compensation charge of $175,137.
"We are pleased with the rate of growth the Company has experienced," said Frontline's President and CEO, Stephen J.Cole-
Hatchard. "With additional capital from the $17 million raised by a Preferred Stock offering in February and March of 2000,
we can aggressively execute our business plan."
About Frontline
Founded in 1995, Frontline Communications Corporation provides Effortless Ecommerce and Internet Access to small
businesses nationwide. Frontline offers high-quality Internet services (Access, Development and Presence) through its three
Ecommerce brands: Frontline.net, www.frontline.net, WOWFactor.com, and iShopNetworks.com, each serving important
geographic, demographic and vertical small business market segments. Frontline's focus on specific small businesses and their
unique needs helps those customers utilize the Internet more easily to achieve an advantage over their competitors. A member
of IBM's Web Integrator Initiative, Frontline provides its clients with full Web design, development and Ecommerce solutions.
Frontline is headquartered in Pearl River, New York, and is traded on the American Stock Exchange.
The statements which are not historical facts contained in this press release are forward looking statements that involve risks
and uncertainties, including but not limited to, changes in the market for Internet services, regulatory and technological changes,
economic factors, increased competition, and the nature of supplier of customer arrangements which become available to the
Company in the future. The Company's actual results may differ materially from the results discussed in any forward-looking
statement. |
