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To: Mark Fowler who wrote (117954)	2/16/2001 6:10:44 PM
From: H James Morris	Read Replies (1) \| Respond to of 164685

Mark, if you like Dclk you've got to like this other Billy pick! >NEW YORK, Feb 16 (Reuters) - The stock of Web advertising network L90 Inc. (NASDAQ:LNTY) lost more than a quarter of its value on Friday, a day after the company told analysts it was slashing its revenue growth forecast for the year. "That is why the stock is under pressure," said Chris Hansen, analyst at Bank of America Montgomery. "They cautioned going forward, which shouldn't be much of a surprise given the current environment." L90 stock dropped $1-19/32, or 31.1 percent, to $3-17/32 at midday, approaching its 52-week low of $2-1/2, and was the fourth-largest percentage decliner on Nasdaq. The stock has ranged as high as $29-7/8 in the past year. The company beat analyst expectations on Thursday with a $4.6 million net loss for the fourth quarter, or a loss of 19 cents per share pro forma, excluding amortization of goodwill. The company said its system revenues, which include gross billing for ads, tripled to $18.3 million from a year ago. But sequential growth in system revenue -- a crucial comparison for advertising companies -- rose only 7.7 percent, to $18.3 million. In a conference call with investors Thursday, L90 said first-quarter revenues would be lower than the prior quarter. The company cut its revenue growth forecast for the year to 20 percent from about 40 percent, analysts said. "Any time the economy is weak, marketers as a whole get concerned about the future," said L90 Chief Executive Officer John Bohan. "I can't speak to what the investment market will do, but we are extremely well positioned." Other online ad companies, hit hard by failing dot-coms and a downturn in the overall advertising market, also saw their stocks down in Friday Nasdaq trading. Industry leader DoubleClick Inc. (NASDAQ:DCLK) fell 9/16, or 4.2 percent, to $12-7/8; Engage Inc. (NASDAQ:ENGA) slid 5/32, or 10.9 percent, to $1-9/32; and 24/7 Media Inc. (NASDAQ:TFSM) dropped 1/8, or 9.6 percent, to $1-3/16. L90 said in the conference call it expected to post a net loss of 58 cents per share for 2001, with losses narrowing throughout the year, and would post a profit by the fourth quarter. First-quarter losses are expected to total 28 cents per share.