NSOL..still holding and still bullish..Network Solutions, Inc. to Present at the Technology Investor <NSOL.O>
Network Solutions, Inc. to Present at the Technology Investor Conference -
Capital Region, July 15-16
WASHINGTON, July 15 /PRNewswire/ -- Network Solutions, Inc.
(Nasdaq: NSOL), the leading provider of Internet identities, today
participated in the second annual Technology Investor Conference in
Washington, D.C. The two-day event, running July 15 and 16, featured senior management from more than 50 publicly traded technology companies and more than a dozen private companies expecting to go public in the near future.
Network Solutions' CEO Gabe Battista and CFO Bob Korzeniewski presented an overview of Network Solutions' business and financial strategy highlighting the company's rapid growth to date.
"Network Solutions is fundamentally a marketing-driven, customer-focused company providing value-added registration services to companies that want to establish a unique Internet identity, communicate and develop electronic
commerce on the Internet," said Battista. "Our pioneering efforts and strong relationships with Internet Service Providers and Web Hosting companies have positioned us well."
For the first quarter ended March 31, 1998, Network Solutions reported record net revenues of $16,492,000, an increase of 91 percent over net revenues of $8,655,000 for the first quarter of 1997. Net income increased 297 percent to $2,049,000 or $0.13 per share on a diluted basis, compared to $516,000 or $0.04 per share for the first quarter of 1997.
In May, Network Solutions recorded its two millionth registration, after reporting a record 340,000 net new Internet domain names in the first quarter of 1998, up 73 percent from the first quarter 1997 total of 197,000 names.
In the first quarter, ending March 31, 1998, the number of international registrations in .com, .net and .org totaled 98,000, up 165 percent from the first quarter 1997 total of 37,000.
Network Solutions also highlighted its RegistrationPlus(TM), value-added Web address registration service. The service offers a reservation feature to hold selected Web addresses which can be activated by customers at any time.
Analysts have noted Network Solutions' increased marketing activities in recent months. Earlier this month, Network Solutions signed agreements with six of Scandinavia's largest Internet Service Providers to facilitate the registration of .com, .net and .org Web addresses in Scandinavia which has the world's highest percentage of on-line users per capita. In May, Network
Solutions launched a new initiative, the dot com people(TM), to help small businesses and individuals establish their Internet identity. A television ad campaign and direct mailings inform users of the value of a "dot com" domain name directing them to RegistrationPlus. The company has also added a number of new channel partners nationally and worldwide, including Inc. Online and Domain Asia, Inc. In April the company acquired Internet Domain Names, Inc., a Houston-based company that specializes in worldwide domain name registration
services in the two-letter country code top-level domains.
Founded in 1979, Network Solutions, Inc. (Nasdaq: NSOL) registers Internet domain name addresses ending in .com, .net, .org and .edu. NSI also provides enterprise network consulting services, focusing on network engineering, network security and network management solutions for commercial customers.
For more information, see the www.networksolutions.com Web site. Statements in this release concerning Network Solutions' future prospects are "forward-looking statements" under the Federal securities laws. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts, estimates and summary information contained
in this press release. Important factors that could cause actual results to differ materially include but are not limited to factors discussed in Network Solutions' 10-K for the year ended December 31, 1997, 10-Q for the quarter ended March 31, 1998 and subsequent SEC filings.
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