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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Technologyguy who wrote (358)	10/15/1998 8:06:00 PM
From: Technologyguy	Respond to of 28311

It will be interesting to see how GNET's % gain in revenue, page views, etc., are compared to XCIT, shown below: Excite Reports Operating Profit, Higher Sales 18:43 10-15-98 REDWOOD CITY, Calif. (Reuters) - Internet directory Excite Inc. Thursday reported its first ever quarterly operating profit, along with increases in both revenues and traffic to its Web site. However, the company also said it increased the value of a deal it entered into earlier this year with Netscape Communications Corp., which will result in more charges to its bottom line for the next two years. In addition, while Excite showed a strong increase in traffic to its Web site, its rate of growth was considerably lower than that recently reported by its chief rival Yahoo! Inc. The company said it earned $1.3 million, or 2 cents per share, in the third quarter excluding acquisition expenses and other extraordinary costs. Including all those costs, it lost $6.9 million, or 14 cents a share, compared with a loss in the year-ago period of $8.3 million, or 27 cents a share. Third-quarter revenues increased to $44 million from $16 million, and traffic to its Web site totaled 50 million average page views per day in September, up 15 percent from June. By comparison, Yahoo!, the No. 1 Internet directory, showed a 25 percent increase in traffic over the same period, with page views reaching 144 million per day. For Internet companies like Excite that derive most of their revenues from advertising deals, page views is a key measure of performance. The extraordinary charges in the latest quarter include some cash payments it is making to Netscape Communications Corp. as part of a deal between the two companies to collaborate on an Internet search service. Excite said it has decided to amortize some $56.8 million of upfront cash payment to Netscape, that had previously been written off during the second quarter. In addition it will increase by $3.8 million the market value of the warrants it is issuing to Netscape, which it said it will result in an additional noncash charge of $7.6 million or 15 cents per share, in every quarter through April of the year 2000. Excite stock closed down $1.875 at $32.75 on Nasdaq.