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Technology Stocks : Internet Capital Group Inc. (ICGE) -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (4016)	11/3/2005 8:36:59 AM
From: puborectalis	Read Replies (1) \| Respond to of 4187

Internet Capital Group Announces Third Quarter Results Thursday November 3, 8:30 am ET Company Reports $87.3 Million of Net Income, Driven by LinkShare Sale WAYNE, Pa.--(BUSINESS WIRE)--Nov. 3, 2005--Internet Capital Group, Inc. (Nasdaq:ICGE - News) today reported its results for the third quarter ended September 30, 2005. ADVERTISEMENT ICG Financial Results ICG reported consolidated net income of $87.3 million, or $1.99 per diluted share, for the third quarter of 2005, as compared with a net loss of $(7.1) million or $(0.19) per share for the third quarter of 2004. Third quarter consolidated revenue was $17.8 million in 2005 and $12.7 million in 2004. ICG Commerce and CommerceQuest were consolidated during both periods, Investor Force was consolidated commencing January 1, 2005 and StarCite was consolidated commencing July 1, 2005. Results for the third quarters of 2005 and 2004 include $97.6 million and $1.8 million, respectively, in net, after-tax gains primarily related to the sale of ICG's interest in LinkShare in the third quarter of 2005 and other asset dispositions in the third quarter of 2004. ICG's corporate cash balance at September 30, 2005 was $193.8 million and the value of its marketable securities was $55.8 million. "ICG continued to make very good progress this quarter," said Walter Buckley, ICG's Chairman and Chief Executive Officer. "With the culmination of a number of positive developments both during and subsequent to the quarter end, ICG is well-positioned for continued growth. These developments include the sale of LinkShare, the merger of CommerceQuest and Metastorm, a leading provider of business process management software in which ICG now owns a 42% stake, and the repurchase of $20 million principal amount of our 5% convertible notes. With more than $200 million of liquidity, this is the start of a new chapter for ICG. We are excited about having the resources to pursue opportunities in the on-demand software market." ICG Core Partner Company Information On September 30, 2005, ICG disposed of its ownership interest in LinkShare. During October 2005, CommerceQuest was merged into Metastorm. To aid in the comparability of the ICG Core Partner Company Information, ICG is presenting pro forma financial information assuming that the LinkShare sale and CommerceQuest and Metastorm merger occurred on January 1, 2004. Set forth below is pro forma information relating to ICG's eight Core companies: CreditTrade, Freeborders, GoIndustry, ICG Commerce, Investor Force, Marketron, Metastorm and StarCite. Our ownership positions in these eight companies averages 51%. Aggregate pro forma revenue of ICG's eight Core companies grew 19% year over year, to $59.2 million, in the third quarter of 2005 from $49.8 million in the third quarter of 2004. Aggregate pro forma revenue of ICG's eight Core companies grew 20% year over year, to $174.8 million, year-to-date 2005 from $146.2 million year-to-date 2004. Aggregate pro forma EBITDA (loss) for the Core companies improved to $(3.3) million in the third quarter of 2005 from $(4.8) million in the third quarter of 2004. Aggregate pro forma EBITDA (loss) for the Core companies improved to $(7.6) million year-to-date 2005 from $(16.1) million in the year-to-date 2004. Please refer to the supplemental financial data at the end of this release for a reconciliation of such amounts to the nearest comparable GAAP measures. ICG will host a webcast at 10:00 am ET today to discuss