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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (6040)	3/8/2001 9:29:01 AM
From: Ron	Read Replies (2) \| Respond to of 6445

PurchasePro PPRO said it was reaffirming that it expects earnings of at least 9 cents per share in the first quarter and earnings of 59 cents per share for fiscal year 2001. The Las Vegas-based company said it expects 2001 revenue will increase 250 percent to more than $225 million, compared to $65 million in 2000. PurchasePro said it was reaffirming its profit and revenue forecasts because the company got "numerous" inquires about its financial outlook following the acquisition of privately held auctioneer BayBuilder. PurchasePro said Tuesday it will pay $15 million in stock and cash for BayBuilder. In early February, PurchasePro stock tumbled after an article in the financial weekly Barron's described the company's management as "inexperienced" and said the company has "liberal accounting procedures." At that time, PurchasePro criticized the article as "riddled with inaccuracies." PurchasePro said it has an experienced management team and adheres to "generally accepted accounting principles."