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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (20127)	7/19/2000 12:13:01 AM
From: KLP	Respond to of 28311

And here is one from the Seattle Times....a MUCH better article.... Just shows you what one reads isn't always accurate.... KLP ".Go2Net sales quadruple as licensing pacts rise " seattletimes.nwsource.com Tuesday, July 18, 2000, 12:00 a.m. Pacific Go2Net sales quadruple as licensing pacts rise by Monica Soto Seattle Times technology reporter A surge in payment processing and licensing agreements helped Go2Net nearly quadruple its sales and post a pro forma profit for the sixth straight quarter. The Seattle-based Internet company, which runs a network of business, stock and entertainment Web sites, announced a pro forma profit of $10.1 million, or 22 cents a diluted share, for the third quarter ended June 30, beating analysts' expectations of 15 cents a share. That compares with a pro forma profit of $3.1 million, or 7 cents a diluted share, in the same quarter a year ago. A pro forma profit excludes acquisitions costs, amortization of intangible assets and other expenses. During the quarter, the company had $23 million in sales - a 23 percent increase from the previous quarter and a 302 percent increase over the $5.7 million recorded a year ago. At the same time, a surge in amortization costs accounted for much of the $10.3 million net loss, or 33 cents a share, that the company recorded during the quarter. In the same period a year ago, the company lost $107.6 million, or $4.07 a share, a figure including preferred stock dividends it paid. Investors seem to have reacted strongly to the results. The company's stock rose $4.25 yesterday to close at $58 and, following the announcement of the quarterly figures, added $5.50 in after-hours trading, to $63.50. "Our operations are spinning off cash, not eating up funds," Go2Net President John Keister said. "We still sit in a very good position." Chief Executive Russell Horowitz said payment processing and licensing agreements accounted for 52 percent of the company's revenues. Go2Net expects licensing deals to make up two-thirds of its sales in 18 months. Hasbro, the world's second-largest toy maker, paid the company $7.5 million to use Go2Net's gaming platform, and National Discount Brokers will spend $22 million over three years to use Go2Net's message-board platform technology. Go2Net also processed $310 million in transactions through Authorize Net, the company's Internet payment-processing platform for businesses. That figure compares with $190 million in the first quarter, usually the highest-volume quarter. Meanwhile, Go2Net is looking to the continued adoption of broadband Internet delivery to expand its business. After Paul Allen's investment in the company, Go2Net linked up with Allen's Charter Communications the fourth-largest U.S. cable company, to create applications. Monica Soto's phone: 206-515-5632. Copyright © 2000 The Seattle Times Company