Net earnings roundup: WebTrends,

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13 October 2000 03:00 PM
Tags: million, cent, first quarter, share, consensus, goodwill
Internet-related companies reported upside surprises across the board with online investment house Wit Capital Group and WebTrends reporting profits.

Here's a look at the after the bell earnings reports:

WebTrends, an XML-based e-business software company, topped Wall Street estimates Monday with a first quarter profit of US$1.5 million, or a nickel a share, on sales of US$10.4 million.

First Call consensus estimates called for a profit of 4 cents a share.

In the same quarter a year ago, WebTrends reported a profit of a penny a share (US$178,000) on sales of US$3 million.

WebTrends said its operating margin increased to 11.4 percent from 9.2 percent last quarter.

FreeMarkets, a business-to-business marketplace provider, reported a first quarter loss of US$8.4 million, or 24 cents a share, excluding charges. First Call consensus expected a loss of 28 cents a share.

Revenue for the quarter was US$10.8 million, compared to US$3.5 million a year ago. The company said it grew its customer base from 34 to 47 companies. During the first quarter, FreeMarkets said its online auctions moved US$1.4 billion worth of direct materials, commodities and services, creating an estimated US$300 million in potential savings for its customers.

Liquid Audio checked in with a first quarter net loss of 30 cents a share. The results were much better than First Call consensus, which predicted a loss of 41 cents a share. Sales were US$3 million in the first quarter, compared to US$1.3 million in the fourth quarter.

Liquid Audio said it had US$152.4 million in cash at March 31.

Internet data firm Media Metrix reported a first quarter loss of US$2.3 million, or 11 cents a share, excluding charges. Media Metrix was expected to lose 14 cents a share, according to First Call.

Including amortisation and acquired in-process research and development charges, Media Metrix lost US$8.1 million, or 41 cents a share, in the quarter. Revenue jumped to US$10.2 million for the first quarter, up 35 percent sequentially.

Online investment bank Wit Capital crushed estimates with first quarter earnings of $7.5 million, or 8 cents a share, including charges. Excluding the amortisation of intangible assets, goodwill and non-cash tax charges, earnings were US$19.3 million, or 20 cents a share.

First Call consensus was expecting a profit of 2 cents a share. Revenue for the quarter was US$106.6 million. Wit Capital's first quarter was the first with SoundView Financial in the fold.

Investment banking revenues for the quarter were up significantly to US$60.3 million from US$3.1 million a year ago. Wit's investment banking arm WitSoundView participated in 61 deals in the quarter, co-managing 31 deals and serving as a syndicate member in an additional 30. Brokerage sales were US$36.5 million, which includes US$32.5 million of institutional sales and trading and $4 million of online, or individual, trading.

Digital Island, which operates and e-business network, reported a net loss of US$1.49 a share for its fiscal quarter. First Call consensus, which includes goodwill costs, was US$1.51 a share.

Sales for the quarter were US$11.3 million, up 49 percent sequentially. Digital Island said it lost US$40.9 million, or 66 cents a share, before amortisation of goodwill and other intangible assets related to the merger with Sandpiper Networks and acquisition of Live On Line.

McAfee.com reported a first quarter operating loss of US$5.9 million , or 14 cents a share, easily topping First Call consensus estimates of 21 cents a share. Revenue for the quarter was US$10.3 million, up 22 percent sequentially. Including charges related to goodwill, McAfee lost 15 cents a share.

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