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To: 10K a day who wrote (139480)	2/18/2002 5:21:33 PM
From: H James Morris	Respond to of 164684

Dude, keep us informed on Linux or RHAT. Don't worry about eTrade. You can buy eTrade Australia for .54c ps that's 25c ps in US money. >>Etrade Australia has emerged from a difficult six months for the stockbroking industry with another loss, but believes cost-cutting initiatives have put it in a much better position to enable it to move into the black. The online stockbroker yesterday reported an interim net loss of $8.34 million, despite a 5.2 per cent rise in revenue to $9.05 million. The result was much improved on the $26 million loss in the previous corresponding period, but one-off costs from terminating a licence agreement with the US-based Etrade group (in return for equity) and the expense of granting so-called "milestone" shares to partner ANZ Bank weighed down the bottom line. Managing director Mike Deleray would not say when he expected Etrade to move into profit but said the business was cash-positive in the period and $6.63 million of cost-cutting initiatives had been reflected in the first half results. "We are very much focused on being a profitable business. While I can't tell you exactly when [Etrade will become profitable], we are focused on it and this is a step in the right direction," Mr Deleray said. Etrade fell 1c to 54c. He described Etrade's performance as "impressive" considering the withdrawal of some rivals from the market. Others may drop out of the market this year, but much will depend on the level of overall market volumes. Etrade generates 85 per cent of its revenue from equity transactions but is looking to diversify its income by selling cash and managed fund investments. Mr Deleray said January had produced Etrade's best trading results since July 2000. Etrade has also just launched an institutional business that will offer professional investors another option to execute trades, but without the research services provided by full-service brokers. Etrade is moving into a big year with the final milestone period for its alliance with ANZ ending in September. Under the agreement, ANZ can get to as much as 40 per cent of Etrade equity if it contributes a set proportion of Etrade customers from its banking customer base. ANZ has so far introduced 34,000 customers to Etrade. siliconinvestor.com