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Technology Stocks : Earnings: Small Cap Tech/ Software -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (196)	7/26/2002 4:30:58 AM
From: 2MAR$	Read Replies (1) \| Respond to of 238

ROOM ($41-33-40)PE=60 Cap= 2.27Bil Jump on More Bookings (buy for how long ?) DALLAS (Reuters) - Online hotel booking agent Hotels.com (NasdaqNM:ROOM - News) on Tuesday reported second-quarter earnings rose sharply as revenue climbed 66 percent on a strong increase in booking volume. ADVERTISEMENT Dallas-based Hotels.com reported earnings of $22.1 million, or 38 cents per share, up from $15.0 million, or 26 cents a share, a year earlier. The figures exclude non-cash expenses, including depreciation and amortization, amortization of goodwill, non-cash marketing and distribution expenses, and the related tax effects of these non-cash items. The company said in a statement that revenue rose to $229.7 million from $138.3 million, helped by more room nights sold and the March launch of its Web site and brand, hotels.com. Analysts polled by Thomson First Call had forecast, on average, earnings of 36 cents per share and revenue of $213 million. Adjusted EBITDA, or income from operations including non-cash marketing and distribution expense, amortization of goodwill, and depreciation and other amortization, rose nearly 56 percent to $32.9 million from $21 million a year-earlier. In January, the company had set out targets for the year, expecting 2002 revenue of $775 million, EBITDA of $110 million and adjusted earnings of $1.30 a share. Based on the company's first-half performance and expectations for the rest of the year, Hotels.com raised its targets. The company said it now expects to beat its 2002 revenue target by 21 percent, its adjusted EBITDA target by 24 percent and adjusted earnings per share by 20 percent. The company said it expects third quarter revenue to grow 9 percent from second quarter levels and it expects fourth quarter revenue to grow 16 percent from the third quarter. In early June, travel services company USA Interactive (NasdaqNM:USAI - News), which owns a majority stake of Hotels.com, offered to buy the shares it does not already own. Hotels.com has formed a special shareholder committee and hired legal and investment consultants to evaluate the bid. The Dallas-based company's shares closed Monday at $36.99, off more than 20 percent from the beginning of the year.