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Technology Stocks : Icon CMT Corp. (ICMT) -- Ignore unavailable to you. Want to Upgrade?

To: Larry T. who wrote (22)	3/22/1998 10:01:00 PM
From: Taylor Caruthers	Respond to of 128

News Alert from Dow Jones Online News via Quote.com Topic: (NASDAQ:ICMT) Icon Cmt Corp, Quote.com News Item #5834865 Headline: Icon CMT Chief Touts Diversity Of Upstart Internet Service Provider ====================================================================== NEW YORK -(Dow Jones)- The chief executive of upstart Internet services provider Icon CMT Corp. appeared on CNBC Friday, promoting the fact that his company offers wider range of services than other ISPs. "We have a very large professional services practice that actually builds the applications," said Scott Baxter. "We'll actually take the company's content, or their applications, and deploy it over that network, which we also control." The Weehauken, N.J.-based concern, which last month made a ho-hum stock-market debut, is trying to differentiate itself from a sea of other Internet players by becoming both an Internet-backbone provider as well as a designer and host service for Internet sites. It also operates some on-line services and a disaster-recovery service that lets customers send data to remote storage devices. "So we're in a very unique position in the marketplace in that we provide a true end-to-end solution versus a company having to go out to multiple sources to solve one problem," Baxter said. But Icon has incurred net losses and negative cash flow from operations since adopting the end-to-end Internet solutions strategy in 1995, and the firm expects to continue to operate at a loss and experience negative cash flow at least through 1998. Icon recently announced a deal with IBM Global Services, a unit of International Business Machines Corp. (IBM), that allows Icon CMT to expand its network to 600 dial-up sites accessible to 92% of the U.S. population. The company's stock (ICMT), which drew little interest at $10 when it debuted last month, has been surging of late. On Friday, Icon's stock finished trading up $1.4375, or 9.7%, at $16.25; earlier, it established a new 52-week high of $17.625. Over the last few days, Icon unveiled two new Internet products and announced plans to upgrade and expand its network operations center and hosting facility in an effort to avoid malfunctions. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.