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To: 2MAR$ who wrote (410)	11/14/2000 10:44:17 PM
From: Jack Hartmann	Respond to of 762

NTT DoCoMo's Profits Soar Todd Jatras, Forbes.com, 11.14.00, 2:37 PM ET NEW YORK - NTT DoCoMo released first-half earnings today that showed a 22.2% rise in profits over the year-earlier period. The company said net consolidated profits came in at $2.02 billion, compared to $1.65 billion a year ago, and subscribers to its I-mode mobile Internet service had reached 12.65 million, compared to just 1.73 million a year ago. Such dynamic growth in Japan, while not wholly unexpected, bodes well for global adoption of the I-mode platform, which is a direct competitor to the popular wireless application protocol (WAP) used in Scandinavia and the United States. I-mode relies on a compact form of Hypertext Markup Language (HTML) to format Web pages viewed on a wireless device, as opposed to the more complex Extensible Markup Language-based (XML) format used by WAP devices. Keiji Tachikawa, president of DoCoMo, said at a press conference in Tokyo, "The mobile phone market has been buoyant so far this year, and I expect this to continue in the second half." He predicted that I-mode's subscriber base would reach 20 million subscribers in Japan by the end of the second half, ending March 31, 2001. Japan's leading wireless carrier, which is a subsidiary of Nippon Telegraph and Telephone (nyse: NTT), has already signed deals with America Online (nyse: AOL) and Sony (nyse: SNE) that significantly raises I-mode's global visibility. In September, DoCoMo agreed to take a 42.3% stake in AOL Japan and promote it as its preferred Internet service provider and also offer AOL mail and AOL Internet Messenger to I-mode users. Last August, the company signed a deal with Sony to develop hardware and applications that would give gamers the ability to log on to I-mode through their PlayStation units. That service is expected to become available next month. DoCoMo also reported that it spent about $560 million on development of its third-generation (3G) wireless network in the first half and will spend an additional $930 million in the second half. Tachikawa said the company will begin rolling out the 3G network on a limited scale in Japan next May. Tachikawa also indicated that DoCoMo is actively seeking foreign partners to help establish a worldwide 3G network. It only follows that I-mode will lead the way in those efforts. forbes.com BTW: Mars, I liked your old format of posting earnings. The headlines were easy to read and scan over those not of interest. Jack

To: 2MAR$ who wrote (410)	11/14/2000 10:49:33 PM
From: 2MAR$	Read Replies (1) \| Respond to of 762

Vodafone Earnings Rise 24 Percent LONDON (AP) -- Vodafone Group PLC [NYSE:VOD - news], the world's largest mobile phone company, Tuesday reported a 24 percent rise in earnings before taxes, depreciation, and one-time charges in the first half and expects further improvement for the full year. Vodafone's acquisition of Germany's Mannesmann AG and its stake in the U.S. venture Verizon Wireless contributed to customer growth, although profit margins slipped in Britain and Germany, the company said. The British phone group earned 3.28 billion pounds ($4.72 billion) before taxes, depreciation and one-time gain and losses in the six months ending Sept. 30, up from 2.66 billion pounds last year. The result beat most analysts' expectations, and Vodafone shares surged 9 percent in midafternoon trading in London. ``The group continues to report strong increases in profitability in all its operating regions. In addition, we are particularly encouraged by the initial trends we are seeing with respect to mobile data and Internet usage,'' chief executive Chris Gent said in a statement. Vodafone revenue grew 32 percent to 10.2 billion pounds ($14.7 billion) from 7.68 billion pounds in 1999. Last year's figures included pro-forma results for Mannesmann, which Vodafone bought in April, and AirTouch Communications, which it took over last June. However, analysts said comparisons with last year's figures are largely meaningless because the company has grown so quickly through acquisitions. Takashi Saito, a fund manager for Nikko Global Asset Management, said Vodafone's results looked ``impressive'' but added that they benefitted from high growth in sales and customer base rather than from fatter profit margins. Declining margins in Britain and Germany were a problem. Both businesses suffered from a sharp growth in subscribers that brought with it higher connection costs. British profit margins fell to 30 percent from 33 percent last year, while margins in Germany dropped to 30 percent from 45 percent. Gent said he expects margins in both countries to recover somewhat by the end of the fiscal year. ``There is no profit warning here,'' he said. ``We expect significant improvements.'' Vodafone added 12.2 million new customers during the latest six months to a total of 65.5 million compared to 42.3 million customers a year ago. Vodafone's net debt load of 13.2 billion pounds ($19.0 billion) equaled a relatively small 85 percent of the group's market capitalization, after payment for third-generation mobile phone licenses in Britain, Germany and the Netherlands. Gent said the group's strong finances would enable it to fund its existing operations while also paying to expand as takeover opportunities might arise.