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To: howsmydrivingal who wrote (330)	10/24/2001 10:40:49 AM
From: Dan Hamilton	Read Replies (2) \| Respond to of 787

When I enquired with IR after the Dydacomp deal I was told that the figure of .833% was a reasonable average for the business. However, they cautioned it would take some time for Dydacomp customers to upgrade to the new package. Message 16268278

To: howsmydrivingal who wrote (330)	10/25/2001 11:36:58 AM
From: howsmydrivingal	Respond to of 787

I am not the only one with questions regarding the 2002 numbers... ************************* InfoSpace cuts 200 jobs - - Company reports $201 million loss for third quarter 2001-10-24 by Chris Winters Journal Business Reporter BELLEVUE -- InfoSpace Inc. yesterday announced plans to cut 200 jobs on the same day it reported a third quarter net loss of $201.4 million -- an increase of nearly 320 percent over the $48 million net loss the company generated for the same period a year ago. The Bellevue-based company, which provides a variety of Internet and e-commerce services to businesses, said the planned layoffs are part of a restructuring effort. InfoSpace spokeswoman Joni Hanson declined to disclose how many of the 200 jobs would be in the firm's Bellevue headquarters, but said that the layoffs would occur throughout the company. On Sept. 30, InfoSpace reported that it had a total of 900 employees who were spread out between its Bellevue headquarters and field offices in Canada, the United Kingdom and Brazil. The reorganization will put the staff in the company's three business units, which target wireless carriers, wireline telecommunications companies and Internet merchants, respectively. ``We're taking more of a product focus than a business focus,'' Hanson said. InfoSpace also cut 250 jobs in early February as part of a general shift away from the Web site-based businesses it took over last year as part of its $1.5 billion acquisition of Seattle-based Internet company Go2Net Inc. In reporting its third quarter earnings, the company explained that $157.1 million of its net losses for the period came from stock-based acquisitions made when InfoSpace's stock was trading at more than $100 per share no longer have the same value when the company's shares trade near their all-time low. The third quarter loss represents, in part, a revaluing of those assets, InfoSpace Chief Financial Officer Tammy Halstead said. The company's revenues for the third quarter fell 44.8 percent to $33 million from the $59.8 million in revenues it reported for the same period a year ago. InfoSpace also said its merchant services business processed 9 million online financial payments worth $700 million, compared with 8 million in the previous quarter. During the quarter, InfoSpace also bought back approximately 21.7 million shares, or approximately 6.7 percent of its total shares outstanding. On a pro forma basis, which excludes items such as stock options and losses on investments, InfoSpace lost $9.6 million for the quarter, or 3 cents per share, compared to a pro forma profit of $11.6 million, or 3 cents per diluted share, for the year-ago quarter. Analysts were expecting a loss of 4 cents per share. Jeff Fieler, an analyst with Bear Stearns & Co. in New York, said that InfoSpace appears to be growing, with its merchant services unit doing fairly well. Fieler said, however, that he was concerned about InfoSpace's 2002 earnings forecast, in which the company said it expects to generate between $105 million and $110 million in revenues for the year -- less than analysts had been expecting. Allyson Rodgers, an analyst with Ragen MacKenzie in Seattle, said she had been expecting InfoSpace to forecast 2002 revenues of $172 million. InfoSpace yesterday said it would see steady growth in recurring revenues over the next five quarters, starting with $27 million in the fourth quarter. The company also said it will break even in the second half of 2002. After you do the math, those numbers don't leave a lot of room for much growth, Fieler said. ``The problem with 2002 -- and a lot of companies aren't giving any guidance in 2002 -- we are in tough economic times, and it's very difficult to see clearly to the end of 2002,'' Halstead said. ``Although we're also very comfortable with the pro forma break-even point in the second half of 2002,'' Halstead said. In yesterday's trading, InfoSpace shares (Nasdaq: INSP) gained 13 cents to close at $2.15. The company announced its third quarter earnings after the close of stock market trading. Following the announcement, the company's shares fell as low as $1.61 in after-hours trading.