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

To: silversoldier a/k/a SI Sy who wrote (23935)	1/30/2001 11:47:45 AM
From: Sarkie	Read Replies (2) \| Respond to of 28311

I am not finding any evidence of the report being filed with the SEC. I want to see how much of our cash is left. Of course, the real story will be how much cash is left today.

To: silversoldier a/k/a SI Sy who wrote (23935)	1/30/2001 12:26:42 PM
From: KLP	Respond to of 28311

A couple more reports this AM....From Breakfast with the Fool: quicken.com This InfoSpace (Nasdaq: INSP) for rent? The Internet content and communication services aggregator reported a stronger-than-expected close to fiscal 2000. However, the company also warned of flat sales and an outright loss in the year ahead. With its $1.9 billion market cap, the company is currently trading for little more than the $1.5 billion it paid to acquire Go2Net last summer. Some analysts had downgraded the company last week after an executive shuffle. However, the response to the unexpected red ink in 2001 wasn't exactly frowned upon. The stock ticked higher in after-hours trading as InfoSpace planned to shift from its sluggish ad-based consumer content services and grow on the more stable business side. quicken.com{128DBE43-7A00-44E5-9885-6731049F4A88}&source=blq/intuit&dist=intuit&765590750 InfoSpace outlook grows dimmer By Mike Tarsala & Carl Corry, CBS.MarketWatch.com 10:18 AM ET Jan 30, 2001 BELLEVUE, Wash. (CBS.MW) -- Wall Street analysts took a more cautious approach Tuesday in their outlook on InfoSpace a day after the Internet-services reseller significantly cut back on its own financial expectations for this year. InfoSpace (INSP: news, msgs) , which reported fourth-quarter earnings that beat the consensus expectation by 3 cents, also said it would deliver a revised operating plan in 30 days to reflect a transition away from the company's consumer businesses. Additionally, the company projected a loss of 14 cents per share on flat $215 million in 2001, essentially flat vs. its sales last year of $214.6 million. InfoSpace executives said they would deliver a revised operating plan within 30 days that will detail the changes in strategy as well as revised estimates for 2002. Shares of InfoSpace were the second-most active stock of the day on the Nasdaq, recently trading down 6 cents at $5.94 on volume of more than 14 million. Analysts responded to the company's announcements by downgrading their estimates and suggesting that investors avoid the stock until there is a better picture of what the company's plans are. "After announcing the departure of three key senior executives last week, InfoSpace dropped the other proverbial shoe yesterday with a loud thud," Matthew Adams, a wireless data analyst at Epoch Partners, wrote in a research note. Adams lowered his 2001-revenue estimate to $211.8 million of InfoSpace, from $346 million, and forecast a net loss of 18 cents per share, from 12 cents per share. "Due to the drastic change in 2001 expectations and uncertainty of future guidance, we are advising investors to avoid this stock in the near term," he said. "The company highlighted that it is transitioning its business away from the consumer division and alluded to a potential asset sale of these businesses," said Thomas Weisel Partners analyst Matt Finick. "Accordingly, we believe that forward-looking projections are still in flux and that the model could change again." Finick cut his 2001 revenue estimate to $213.3 million from $335.2 million, and projected a loss of 15 cents. InfoSpace posted fourth-quarter earnings of $12.6 million, or 4 cents a share, up from a pro forma loss of $7.8 million, or 3 cents, in the year-ago period. The First Call consensus view was a profit of 1 cent a share. Revenue increased 125 percent to $66.1 million from $29.4 million in 1999's fourth quarter. The company (INSP: news, msgs) announced several new wireless carrier customers in the quarter. "InfoSpace continues to expand its relationships and deliver value to wireless carriers proven by the significant revenue growth in our wireless business and the more than 1.5 million wireless subscribers," said Chairman Naveen Jain.