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Technology Stocks : Proxicom, Inc. (PXCM) -- Ignore unavailable to you. Want to Upgrade?

To: brk who wrote (40)	3/31/2000 1:57:00 PM
From: michaele23	Read Replies (1) \| Respond to of 58

brk, I was just thinking the same thing, and in fact have been away from my computer the last two days for a break, considering what is going on. The first thing I did when I decided to look back to the market was notice PXCM holding up well, all things considered, and was going to look around and see what's up. First thing I see is your message. Its gotta be a sign, TIME TO BUY MORE![g]

To: brk who wrote (40)	3/31/2000 2:04:00 PM
From: michaele23	Respond to of 58

brk, I just found this news item from yesterday, this may be what is helping PXCM: Excerpted from 10-K filed on 03/30 by PROXICOM INC: PROXICOM INC files 12/31/99 10-K. Reports $82.6 mil tot rev, $-0.8 mil NI RESULTS OF OPERATIONS The following table presents, for the periods indicated, the relative composition of revenue and selected statements of operations data as a percentage of revenue: TABLE CAPTION YEAR ENDED DECEMBER 31, 1999 COMPARED TO 1998 Revenue. In 1999, revenue increased by $38.7 million, or 87.9%, to $82.7 million from $44.0 million in 1998. This increase in 1999 was attributable to a 100% increase in the number of engagements compared to 1998. The overall size of each engagement remained consistent compared to the year ended December 31, 1998. Our largest client contributed 14.7% of our revenue for the year ended December 31, 1999. No other individual client contributed 10% or more for the year ended December 31, 1999. For the year ended December 31, 1998, our two largest clients contributed 14.2% and 13.2% of our revenue. No other individual client contributed 10% or more for the year ended December 31, 1998. We believe that period-to-period comparisons of our revenue and operating results are not meaningful and that you should not rely on these comparisons as indicators of future performance. Cost of Revenue. Cost of revenue consists primarily of compensation and associated employee benefits for personnel directly assigned to client projects, non-research and development efforts and non-reimbursed direct expenses incurred to complete projects, such as technical consulting fees. Cost of revenue increased $18.6 million, or 74.7%, to $43.6 million in 1999 from $24.9 million in 1998. The increase was due primarily to increases in the number of personnel needed to service our client engagements. Service project personnel increased from 340 at December 31, 1998 to 568 at December 31, 1999. As a percentage of revenue, cost of revenue decreased to 52.7% during 1999 as compared to 56.6% during 1998. Gross Profit. In 1999, gross profit increased $20.0 million, or 105.1%, to $39.1 million from $19.1 million in 1998. The gross profit dollar increase reflects an increase in revenue during the year ended December 31, 1999. As a percentage of revenue, gross profit increased to 47.3% during 1999 as compared to 43.4% during 1998. The percentage increase reflects increased overall billing rates and improvements in gross profit per billable consulting and delivery personnel.<<<<<<<<<< I have to go see when they report, but a 105% increase in profits looks damn good.