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Microcap & Penny Stocks : AppNet Systems, Inc. (APNT) -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (230)	7/26/2000 12:13:04 AM
From: Sarkie	Read Replies (1) \| Respond to of 232

AppNet Continues Growth; Revenue Doubles 07/25/00 ================================================================ BETHESDA, MARYLAND, U.S.A., 2000 JUL 25 (NB) -- By Kyle Balluck, Washtech. E-business services provider AppNet [NASDAQ:APNT] said building momentum in e-marketplaces helped double second quarter 2000 revenue and contributed to slightly stronger than expected earnings per share. Second quarter results showed company revenue of $51.2 million, up more than 100 percent compared to second quarter 1999 results of $25 million. The company reported fully taxed cash earnings per share at $0.07, versus break-even earnings per share (EPS) in the second quarter of 1999. AppNet's earnings were 1 cent higher than a consensus estimate of six analysts surveyed by First Call/Thomson Financial. Second quarter EPS included expenses related to the pending merger with Commerce One [NASDAQ:CMRC]. AppNet also reported a second quarter 2000 net income of $2.4 million, compared to an $88,000 loss in the second quarter of 1999. During the second quarter, AppNet formed strategic alliances with Commerce One, eCredit, Intershop and Fairfax, Va.-based WebMethods in an effort to strengthen its e-marketplace offerings. It also launched ProcureZone, a business-to-business (B2B) e-marketplace for the construction industry, and TelecomSmart, a B2B e-marketplace for small and medium businesses in the telecommunications industry. In June, California-based Commerce One, which builds Internet-based commercial exchanges, said it would acquire Bethesda, Md.-based AppNet in a stock deal that was worth about $1.4 billion before the news sent Commerce One shares sharply lower. AppNet shares were down $0.938, or 2.38 percent in mid-day trading to $38.562. Reported by Newsbytes.com, newsbytes.com (20000725/WIRES ONLINE, BUSINESS/) ================================================================