Here is some additional data on PQT which makes it even more attractive to takeover.
In addition this news story implies a possible spin off within PQT itself on the new "Internet Division" recently created and generating significant contributions to the company.
Another tip from your Uncle Ernie!!!!!!!
PC Quote Creates Internet Division
PR Newswire, Thursday, December 17, 1998 at 17:49
CHICAGO, Dec. 17 /PRNewswire/ -- PC Quote, Inc. (AMEX:PQT), engineer of HyperFeed(TM) -- the fastest datafeed available -- and a leading provider of real-time and delayed stock and market quotes, today announced the formation of an internal Internet division, PC Quote.com. An outgrowth of its financial content website, www.pcquote.com, the division's objective is to provide a comprehensive array of investment tools to empower the growing sophistication of the individual investor.
Continued growth in page views, increasingly attractive demographics and the subsequent increase in advertising revenue led to the firm's decision to segregate the website into its own business unit. "Our website has grown in size and popularity to such a point that it is a sustainable business in its own right. As a distinct business unit, PC Quote.com may be able to raise financing for the Internet business separately from the market data business," stated Jim R. Porter, PC Quote Chairman and Chief Executive Officer. "It will also afford PC Quote.com more flexibility in considering opportunities that are available solely to the Internet website business."
What started out in 1995 as a corporate communications site quickly evolved into a major financial content site for both real-time and delayed stock quotations, in-depth financial information, news and analysis. PC Quote, long a technological leader in the financial market data industry was the first to offer delayed stock quotes on its website and the first to offer free real-time quotes. www.pcquote.com receives over 987,000 visitors each month from serious individual investors, portfolio managers and professional traders. According to Fall 1998 statistics obtained from @plan, the leading research provider of consumer behavior data on the Web, www.pcquote.com's audience demographics are extremely valuable to web marketers. In fact, www.pcquote.com is twice as efficient as the web at large in reaching visitors who own shares of common stock in a company other than their own (65.6% of www.pcquote.com visitors) and 57% more efficient at reaching viewers with self-directed IRAs (34.2% of www.pcquote.com visitors).
"It has been obvious for a long time that the two businesses are very different," Porter continued. "We have experienced some incredible advantages due to the fact that PC Quote is both a market data vendor and a financial website. However, it appears inevitable that the two units will follow very different business models and will be presented with distinct opportunities. This step affords our PC Quote.com management team with the charter they need to build the business and to be decisive and responsive to market opportunities. Now that our financial situation has improved significantly," Porter concluded, "we think the timing is ideal."
PC Quote has experienced continued revenue growth from both its traditional quote business and the Internet, with revenue growth from Internet-related products, like the website, outpacing quote revenue growth. The last year of infrastructure building and website planning and re-design has led the firm to identify a variety of new opportunities that it is now in a much better position to pursue.
About PC Quote, Inc.
PC Quote, engineer of HyperFeed(TM), the fastest and most accurate datafeed available, provides delayed and real-time securities quotations and news to financial and consumer markets worldwide. Long a technological leader in market data delivery, PC Quote boasts a long line of industry "firsts." Most recently, PC Quote was the first data vendor to power its datafeed by a 100% Windows NT-based ticker plant and the first to deliver 1024KB over the Internet. PC Quote's professional clients include brokerage firms, banks, insurance companies, fund managers, as well as institutional and professional investors. The company has expanded its service offerings to the individual investor, application developers and businesses by offering its products through the Internet. The company's website, www.pcquote.com, offers non-fee delayed quotes to all visitors as well as fee-based real-time subscription market data services.
The statements made herein that are not historical facts may contain forward-looking information that involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from the results, performance or achievements expressed in, or implied by, these forward-looking statements. Among the factors that could cause or contribute to such differences are those set forth in the Company's filings with the Securities and Exchange Commission and include the Company's ability to (i) obtain adequate financing to continue as a going-concern and fund its current and future business strategies, (ii) attract and retain its key employees, (iii) compete successfully against competitive products and services, (iv) maintain its relationships with key suppliers and providers of market data, and (v) the effect of economic and business conditions generally.
For more information visit pc quote's website at www.pcquote.com.
SOURCE PC Quote, Inc.
-0- 12/17/98
/CONTACT: Jim R. Porter, Chairman and CEO, 312-913-2800, or Lorelei M. Lenzen, Manager, Marketing Communications, 312-913-3517, both of PC Quote; or William Murphy, General Inquiries, 312-266-6764, or Carol Barbour, General Inquiries, 312-640-6693, both of The Financial Relations Board/
/Web site: pcquote.com
Companies or Securities discussed in this article:
Symbol Name
AMEX:PQT PC Quote Inc
NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes.
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