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

To: 2MAR$ who wrote (197)	7/26/2002 4:36:13 AM
From: 2MAR$	Respond to of 238

EXPE (50-41-45) Cap=2.5Bil falls despite profit report , fears of slowing growth By Russ Britt, CBS.MarketWatch.com Last Update: 6:44 PM ET July 23, 2002 BELLEVUE, Wash. (CBS.MW) -- Despite a drop in travel following Sept. 11, Expedia reported a profit Tuesday in the second quarter as its revenue nearly doubled. But its share price fell after the report. Free! Sign up here to receive Thom Calandra’s StockWatch e-newsletter! The online travel site reported record bookings for the period that helped lift its sales from $78.5 million to $144.9 million, an 85 percent increase. Bookings were $1.3 billion, up $530 million. The company turned a profit of $19.1 million, or 29 cents a share. A year ago, it posted a loss for the quarter of $4.4 million, or 9 cents. Adjusted for special items, earnings totaled $29.2 million, or 45 cents a share, vs. $15 million, or 25 cents a share, a year ago. The Thomson Financial/First Call consensus estimate was for a profit of 41 cents a share. Officials at Expedia (EXPE: news, chart, profile) said they boosted results by focusing on summer travel sales. The company also acquired a vacation company in Hawaii and struck a deal with Walt Disney Co. (DIS: news, chart, profile) to offer vacation packages for Disney World in Orlando. Beating the estimates didn't seem to help the company's stock. Expedia shares fell $6.48 to $48.41 during the regular session, before the announcement, then lost another $4.86 to $43.55 in after-hours trading following the release. Analysts said that privately, some brokerages were expecting the company to bring much higher numbers even though the forecast was at 41 cents. Expedia regularly brings in numbers that far exceed expectations, and some on the street thought 60 cents per share in pro forma earnings was possible. But it appears Expedia has settled into a period of less drastic growth, analysts said.