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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (7102)	7/23/1998 8:04:00 AM
From: Tx Buck	Respond to of 29382

IIXC still rolling along; PSIX good news for it. Jul 22, 1998 (5:42 PM ET) - The Motley Fool Evening News Business Internet services provider PSINet Inc. (Nasdaq:PSIX - news) moved up $2 7/8 to $15 15/16 after reporting a fiscal Q2 loss (before $20 million in acquisition charges) of $0.67 per share, which was not quite as bad as the First Call mean estimate of a $0.69 per share loss. Total revenues came in at $53.7 million, up 21% sequentially and 82% year-over-year. The firm signed up an additional 5,400 customers in the quarter, raising its corporate client total to 38,700. It also expanded internationally by acquiring ISPs in Hong Kong, Germany, France, and the Channel Islands. Earlier in the year, the company blew off a bid from the former CEO of Digex to acquire at least a 51% stake in the company for $10 per share. Since the bid on January 21, PSINet's stock has roughly doubled -- which must be music to the ears of minority owner IXC Communications (Nasdaq:IIXC - news) . A replay of the company's conference call is available at (800) 475-6701, access number 398216.