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To: Teri Garner who wrote (4180)	10/24/2000 4:46:51 PM
From: Charlie Langford	Respond to of 8046

WOW 10/24 16:44 CNET NETWORKS <CNET.O> Q3 SHR $0.07 Charlie

To: Teri Garner who wrote (4180)	10/24/2000 4:47:19 PM
From: Connor26	Respond to of 8046

time to buy or time to run - run out for a beer that is - C26

To: Teri Garner who wrote (4180)	10/24/2000 4:56:55 PM
From: mike machi	Read Replies (1) \| Respond to of 8046

Good earnings from VERT... 9 cents better than expected.. ~Net revenues increased sequentially by 38 percent to $73.7 million from $53.6 million in the second quarter. This was a $68.5 million increase over the same period of the prior year~ VerticalNet Reports Third Quarter Net Revenues of $73.7 Million and a Cash Loss of $0.20 Per Share; Company Sees Growth in All Sectors HORSHAM, Pa., Oct 24, 2000 (BUSINESS WIRE) -- VerticalNet, Inc. (Nasdaq:VERT), the Internet's leading business-to-business e-commerce enabler, today announced its financial results for the third quarter ended September 30, 2000. Net revenues increased sequentially by 38 percent to $73.7 million from $53.6 million in the second quarter. This was a $68.5 million increase over the same period of the prior year. The Company's cash loss improved to $0.20 per share from the prior quarter's loss of $0.23. The third quarter is VerticalNet's first under the leadership of its new President and CEO Joe Galli, who joined the Company on July 27. "Joe has had a tremendous first quarter and a smooth transition," said Chairman Mark Walsh. "He has produced an immediate impact across the organization." During the third quarter, Galli announced the organization of the Company's operations into three strategic business units: -- VerticalNet Markets enables global B2B e-commerce for small and medium-sized businesses. It owns and operates 57 vertical marketplaces and relevant horizontal products and services; -- VerticalNet Exchange enables trading of electronic components in open and spot markets; and -- VerticalNet Solutions enables digital marketplaces for global 2000 customers, consortia and neutral Net market makers. "This move allows us to better identify, manage, brand and sell VerticalNet's offerings, gauge operating performance, tailor our strategies and execute more rapidly," said Galli. "Combined with our impressive management additions and operating momentum, these changes give us the firepower to execute very rapidly on our vision to be the leading global B2B e-commerce enabler in each of our core divisions," said Galli. "VerticalNet has the resources, the talent, the strategy and the dedication, and we will reach our goal through helping our customers succeed in the 21st century." Financial Highlights For the quarter ended September 30, VerticalNet generated net revenues of $73.7 million, compared to $53.6 million for the quarter ended June 30. Deferred revenues grew to $57.2 million from $46.4 million in the prior quarter. Cash and other liquid assets were $144.7 million at September 30. "We've had another solid quarter and are excited about our progress," commented Executive Vice President and CFO Gene Godick. "We further strengthened our balance sheet by completing a $75.0 million securitization of NECX.com accounts receivable. The securitization reduced our accounts receivable balance and eliminated our need for the previously reported outstanding line of credit. The securitization enhances our balance sheet with additional liquidity," concluded Godick. Beginning in 2001, VerticalNet will separately report operating results and performance metrics of VerticalNet Solutions, currently reported in VerticalNet Markets. Following is a summary of the financial performance of VerticalNet Markets and VerticalNet Exchange.