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To: Bill Harmond who wrote (9303)	10/23/2001 4:58:09 PM
From: Mark Fowler	Respond to of 57684

It still pointing towards 2003 -04 for recovery.

To: Bill Harmond who wrote (9303)	10/23/2001 6:18:06 PM
From: Mark Fowler	Respond to of 57684

stockcharts.com[h,a]dacayimy[d20010101,20011024][pc50!c20][vc60][iUc20!La12,26,9] retrace back to 10 on that maybe LOS ANGELES (Dow Jones)FreeMarkets Inc. (FMKT), which saw some softening of its business in September due to the terrorist attacks, on Monday reported thirdquarter results that beat the Street's estimates by 5 cents a share. "We are in the midst of a global economic storm," said Glen Meakem, FreeMarkets' chairman and chief executive officer, on the conference call with analysts. "Despite the storm, we continue to create value for our customers," he added. FreeMarkets, which operates online auction markets for industrial parts, raw materials, commodities and services, also said it expects to become profitable in its fourth quarter, ahead of previous guidance by a quarter. Meakem also said that the Nimda computer virus slightly affected revenue in the quarter. FreeMarkets Chief Financial Officer Joan Hooper said the Pittsburgh company expects to end the year with as many as 1,025 workers, bucking a trend among rivals Ariba Inc. (ARBA) and Commerce One Inc. (CMRC) where shrinking the size of the business has become the norm in the struggling Internet world. FreeMarkets said it will add workers as it develops research and development, and sales and marketing initiatives. The company had reduced its work force in the summer and ended the Sept. 30 quarter with 988 workers. "In the B2B (businesstobusiness) environment, they seem to be holding up better than most," said Ian Morton, analyst with J.P. Morgan. FreeMarkets is a servicedriven B2B that gets revenue from lockedin contracts from major customers looking to save money on procurement like Alcoa Inc. (AA) and H.J. Heinz Co. (HNZ). Some companies like Ariba and Commerce One are softwaredriven and rely on major sales of their auction products in the last few weeks of a quarter, Morton observed. "FreeMarkets has been operating in a tough environment, but they are executing well," he said. The events of Sept. 11 hurt FreeMarkets slightly. Some of FreeMarkets' online market volume was shifted to its fourth quarter from its third quarter following the terrorist attacks in New York City and Washington.