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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (34136)	4/19/2000 5:58:00 PM
From: TechTrader42	Read Replies (1) \| Respond to of 43080

You're right about CNET, which reported after the close. Up strongly after hours, too. CNET Networks, Inc. Reports First Quarter Operating Profit (PR Newswire, 04/19/2000 16:41) Revenues Increase 126 Percent Over Q199; Highest Annual Revenue Growth In Two Years Company Announces $100 Million Stock Repurchase Plan SAN FRANCISCO, April 19 /PRNewswire/ -- CNET Networks, Inc. (NASDAQ:CNET), the parent company of CNET and mySimon, inc., today reported pro forma net income of $1.5 million or $.02 per share for the quarter ended March 31, 2000, excluding goodwill amortization, merger costs, net losses on investment sales, stock based compensation and related taxes. Net revenues for CNET Networks increased 126 percent to $45.4 million in the first quarter, the company's highest annual revenue growth rate in two years. CNET Networks had not been expected to generate operating income until the fourth quarter of 2000. The company's record revenues were a result of strong first quarter gains in traffic, as CNET Networks continued to demonstrate its ability to build robust marketplaces around content. CNET Networks' traffic increased to 16.5 million average daily page views in the first quarter. In addition, CNET Networks generated 218,000 leads per day to its more than 400 partner merchants. CNET Networks had a total of more than 800 unique customers in the quarter, including advertisers, merchants and licensees. "We are very pleased to report record revenues in the first quarter that lead to CNET Networks generating operating income earlier than expected," stated Shelby Bonnie, CEO of CNET Networks, Inc. "Our strong results in the first quarter continue to demonstrate that content is the most powerful ingredient in building successful marketplaces. CNET Networks, with its CNET and mySimon brands, is ideally positioned as the leading content network providing news and information to buyers and sellers around the world." "In the first quarter, CNET Networks expanded its reach with new content services and turned on new revenue streams, including CNET Data Services and CNET Radio," added Bonnie. "This continued growth is due to our ability to continually reinvest in our business while at the same time generating profits. With one of the strongest cash positions in the industry, we are primed to take advantage of opportunities that provide ongoing value to our users, customers and shareholders." Including goodwill amortization, merger costs, net losses on investments, stock based compensation and related taxes, CNET Networks net loss for the first quarter ended March 31, 2000 was $19.5 million, or $0.23 per share.