THAT news, and looks like good news.
thatlook.com Announces Second Quarter Results; Strong Consecutive Quarter
Growth Continues
STROUDSBURG, Pa., Aug 2, 2000 /PRNewswire via COMTEX/ -- thatlook.com (OTC
Bulletin Board: THAT) today announced operating results for the second quarter
ending June 30, 2000 that continued to show strong consecutive quarter growth in
revenues, while also showing declining losses.
Gerard Powell, President and Chief Executive Officer, in commenting on the
results made the following points: "I am very pleased that the restructuring
plan we put into place in the second half of 1999 continues to be very
successful. Since the fourth quarter of 1999, we have increased our revenues by
69%, while reducing our operating expenses by 8%.
"While we have made the easy gains off the trough at the end of last year, I
believe we are positioned to average 20 - 30% consecutive quarter revenue growth
in the future for three reasons:
"First, we believe the current base of physicians participating in our marketing
program can be expanded ten to twenty-fold from the present level. This
expansion, while appearing extraordinary from our current small base, still will
represent only a small portion of the overall elective cosmetic procedure
marketplace.
"Second, the previous principal constraint to our ability to capture and
dominate this marketplace was our limited financial resources, and this has been
substantially relaxed with our recent infusion of capital.
"Third, in addition to our regular programs, the recent addition of the
ThatNewLook software to our arsenal will help us accelerate both the rate at
which we add physicians to our network and the rate at which we generate
patients for our doctors. The professional version of this software enables the
doctors to work with their patients via computer imaging to define the exact
look the patient seeks. The personal version, downloadable from our web site,
enables consumers to perform virtual cosmetic procedures on their own images at
home to see what changes might look like.
"While we believe we are positioned to continue our rapid growth, I would also
like to point out that not every quarter will meet our growth objectives. Since
we are in the process of establishing the basis to dramatically increase the
scale of our business, some quarters may see substantially greater growth than
our targeted average of 20-30%, while others may see less as we build new bases.
It is entirely possible that the next two quarters could reflect this, as we
build the base in the third quarter with our new financial resources, and then
experience substantially above trend and target fourth quarter growth.
thatlook.com, Inc.
Summary Financial Results
Q4 Q1 Q2
1999 2000 % Chnge. 2000 % Chnge.
Revenues
Marketing
Fees $ 453,444 $ 687,166 +51.5% $ 816,314 +18.8%
Gain on
Note Sale 156,398 181,120 +15.8% 262,835 +45.1%
Other 50,908 25,569 -49.8% 34,298 +34.1%
Total
Revenues $ 660,750 $ 893,855 +35.3% $ 1,113,447 +24.6%
Operating
Expenses $(1,286,429) $(1,052,332) -18.2% $(1,183,700) +12.5%
Operating
Loss $(625,679) $(158,477) -74.7% $(70,253) -55.7%
Interest
Expense
(net) and
Bad Debt $(357,642) $(104,019) -70.9% $(180,707) +73.7%
Net Loss $(983,321) $(262,496) -73.3% $(250,960) -4.4%
Loss Per
Share $ (0.08) $(0.02) -75.0% $(0.02) 0.0%
The Company's Form 10-QSB for the second quarter ended June 30, 2000 will be
filed with the S.E.C. approximately two days after the issuance of this press
release.
About thatlook.com:
thatlook.com is a direct response, marketing services company serving a network
of physicians that specialize in performing elective, cosmetic procedures.
Using a combined, multi-media approach, including the Internet, television,
radio, print and direct mail, thatlook.com generates financially qualified, and
purchase-minded patient traffic to its network of member physicians.
thatlook.com's (OTC Bulletin Board: THAT) Internet web site is:
thatlook.com
Investor relations information is at
4-you.com
This News Release may contain "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, and Section 21E of the Securities
Exchange Act of 1934. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove correct.
SOURCE thatlook.com
CONTACT: Alan Zazoff of Zazoff Associates, LLC, 973-515-8515,
Zazoff_Alan@msn.com, for thatlook.com
URL: 4-you.com
thatlook.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
-0-
KEYWORD: Pennsylvania
INDUSTRY KEYWORD: MLM
MTC
SUBJECT CODE: ERN
OTC
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