Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (10440)	3/11/1999 7:38:00 PM
From: Susan Saline	Read Replies (1) \| Respond to of 43080

re PRGY request for interpretation ... never mind ... think I can figure it our for myself .... WHITE PLAINS, N.Y. (CBS.MW) --Prodigy Communications chopped its fourth-quarter losses by 65 percent as the Internet service provider logged a two-fold increase in its online subscribers. The White Plains, N.Y.-based company said its net loss for the period narrowed to $17.2 million, or 38 cents a share, vs. $49.3 million, or $2.14, in the same period a year ago. Analysts' consensus estimate wasn't available for Prodigy (PRGY), which went public last month at $15 a share. Revenue rose to $34.7 million from $32.3 million the same period a year earlier. Billable subscribers to Prodigy Internet shot up 129 percent to 505,000 compared with 221,000 last year. The fourth-quarter number reflects growth in new subscribers, with only 6 percent of the rise due to customers shift from Prodigy Classic to Prodigy Internet. See press release. "We continue to be successful in executing innovative Internet marketing strategies and are seeing these strong results carry through into the first quarter of 1999," said chief executive Samer Salameh. Salameh also said Prodigy's new "There is a Choice" advertising campaign will continue in the second quarter. "As a result of these marketing programs, from January to February, inbound calls to Prodigy increased 100 percent. In addition, downloads of Prodigy Internet software off of our Web site have increased 50 percent over the same period," he added. Prodigy also said it launched its Business Solutions Group in January to build its subscriber base. In the same month, the company made an agreement with Telmex's to manage its subscriber base. Prodigy completed its initial public offering of 11 million shares in February, the company said. The company originally sold 8 million shares, with an over allotment of 1.2 million shares, as well as 2 million shares purchased directly by Telmex, Prodigy added. See press release. See IPO Report.