Network Solutions Announces Record 1998 Second Quarter Revenue and Earnings (that's 1 cent above estimates)
I bought back 300 shares myself this morning, and it was just upgraded. Sold my 500 at a 6 profit.. still holding 300 shares. This one could be a dead cat bounce, but now I'm not sure its not being manipulated.
Net Registrations Continue at Record Pace
Second Quarter 1998 Highlights Year Over Year
HERNDON, Va.--(BUSINESS WIRE)--July 30, 1998-- Net new registrations 443,000 - up 91
percent
International net new registrations 128,000 - up 152 percent
Revenue $20.4 million - up 103 percent
Net income $2.4 million - up 233 percent
Earnings per share of $.15 versus $.06 - up 150 percent
Network Solutions, Inc. (NASDAQ:NSOL - news) today reported record net revenues for the second quarter ended June 30, 1998 of $20,476,000, an increase of 103 percent over net revenues
of $10,069,000 for the second quarter of 1997. Net income increased 233 percent to $2,463,000 or $0.15 per share on a diluted basis, compared to $740,000 or $0.06 per share for the second
quarter of 1997.
For the six months ended June 30, 1998, net revenues were $36,968,000, an increase of 97 percent over net revenues of $18,724,000 for the comparable 1997 period. Net income for the first half of 1998 grew 259 percent to $4,512,000 or $0.27 per share, compared to $1,256,000 or $0.10 per share for the first half of 1997.
Network Solutions registered a record 443,000 net new Internet domain names in the second quarter of 1998, up 91 percent from the second quarter 1997 total of 232,000 names and up 30 percent from the first quarter of 1998 total of 340,000. The cumulative total of net registrations grew 120 percent from 1.04 million at June 30, 1997, to 2.29 million at June 30, 1998. In the second quarter of 1998, the number of net new international registrations in .com, .net and .org totaled 128,000, up 152 percent from the second quarter 1997 total of 51,000 and up 31 percent from the first quarter of 1998 total of 98,000.
''In the second quarter we continued our significant growth in dot com Web addresses, growing our entire registration base 23 percent in the past quarter alone. This impressive growth contributed to
our seventh consecutive quarter of increasing profitability,'' said Gabe Battista, chief executive officer, Network Solutions, Inc. ''We continue to invest in our back-office infrastructure, strategic
marketing channels and customer support services to take full advantage of the opportunities we've identified in the small business and global markets. The successful introduction of
RegistrationPlus(TM) for small business, and the launch of our international premier partners program, have allowed Network Solutions to capitalize on these emerging market opportunities.'' |
