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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (19806)	12/11/1998 11:30:00 AM
From: Mao II	Read Replies (1) \| Respond to of 120523

AV: From the horse's mouth: biz.yahoo.com Open Market Announces Third Quarter Results BURLINGTON, Mass., Oct. 22 /PRNewswire/ -- Open Market, Inc. (Nasdaq: OMKT - news), a leading provider of Internet commerce and information publishing software, today announced results for its third quarter ended September 30, 1998. Net revenues were $14.4 million. This compared to net revenues of $15.7 million for the third quarter of 1997. Net loss for the quarter was $6.6 million or $0.19 per share, compared to a net loss of $6.4 million or $0.20 per share for the same period of 1997. For the nine months ended September 30, 1998, revenues were $46.1 million compared to $42.6 million for the nine months ended September 30, 1997. Net loss for the nine months ended September 30, 1998 was $28.5 million or $0.87 per share compared to $55 million or $1.79 per share for the nine months ended September 30, 1997. Excluding the charge for acquired in-process research and development in connection with the iCentral acquisition, the net loss for the nine months ended September 30, 1998 was $17.7 million or $0.54 per share, compared to a net loss of $20.8 million or $0.67 per share for the same period the prior year, which excludes the charge for acquired in-process R&D in connection with the Waypoint and Folio acquisitions. According to Gary Eichhorn, president and CEO, ''We were disappointed in our financial results this quarter, which fell well short of external expectations for both revenue and net loss per share. From our perspective, the revenue short fall was attributable to several areas including: the corporate market for CD-ROM based Folio software sales, publisher royalties, the Asia/Pacific Rim and Japan regions, and merchant revenue. In addition, we experienced some execution issues in the sales organization. As part of the action plan to address these issues, we've made the decision to realign the cost structure of the Company going forward. As a result, the Company will finalize a restructuring plan and record a restructuring charge in the fourth quarter of 1998 in the range of $2-4 million.'' He added, ''In spite of our disappointment with the financial results, there were several positive events that occurred during the third quarter, including significant new customer wins and the introduction of the Folio 4.2 suite and the Japanese version of Transact. We continued to win business with marquee customers around the globe. Several companies joined the ranks of Transact customers, including: America Online, Deutsche Post AG, Playboy Online and The Bureau of National Affairs, Inc.'' Subsequent to this, the share price fell to 6 and change. Best, M2