Forum Archive Index - April 2000

["Matthew Van Veen" <mattvanveen@hotmail.com>]

Osbert - thank you for that. Isn't this the Company who ITC just also got 
involved with?

>From: "Osbert Sun" <osbert.sun@xtra.co.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: [sharechat] E-commerce turning profit
>Date: Thu, 27 Apr 2000 10:52:10 +1200
>
>The heavy fall of NASDAQ has impacted the tech stocks listed on NZSE in 
>recent weeks. The fear among the investors about the lack of 
>profit-generating capacity in short term in internet related stocks has 
>been the primary drive for the heavy sellings in the likes of ADV, ITC and 
>SMR. However, acknowledging some of the hypes associated with these stocks, 
>I personally believe that investors who are able to ride out the current 
>market volatility will be rewarded in near future once stronger than 
>expected profits are in the making. The following article from Yahoo 
>Finance could probably serve as an example about the potential in the 
>locally listed internet stocks such as ADV, ITC and SMR. Happy 
>reading/trading/investing!
>
>Kind regards,
>Osbert Sun
>
>(Disclosure od interests: hold shares in SMR)
>
>
>E-commerce provider Scient turns first profit
>SAN FRANCISCO, April 26 (Reuters) - Scient Corp. (NasdaqNM:SCNT - news), a 
>provider of technology and consulting services for e-commerce, Wednesday 
>reported its first quarterly profit, exceeding analysts' estimates in 
>reaching its financial milestone.
>
>Scient reported net income of $2.2 milion, or 4 cents a share, for the 
>fiscal fourth quarter ended March 31, excluding stock compensation expense, 
>compared with a loss of $6.1 million, or 40 cents a share, the prior year. 
>Analysts had forecast earnings of 2 cents a share, excluding goodwill 
>items, according to First Call/Thomson Financial.
>
>Revenue jumped 54 percent from the prior quarter to stand at $65.8 million, 
>a rise of 600 percent from the year-ago quarter's $9.4 million.
>
>Bill Kurtz, Scient executive vice president and chief financial officer, 
>said that while the company continues to invest heavily to expand its 
>business, its ``goal is to continue to improve profitability while 
>continuing to outpace the industry growth rates.''
>
>While many Internet companies continue to report losses, largely because of 
>intense competition, Scient is capitalising on the scramble to put up 
>e-commerce sites, as a builder and consultant to the fast-multiplying 
>businesses.
>
>``As Scient embarks on its new fiscal year, we believe we are uniquely 
>positioned to capitalise on the increasing global demand for systems 
>innovation,'' said chairman and chief executive Bob Howe.
>
>Revenues for the fiscal year were $155.7 million, an increase of more than 
>650 percent over the $20.7 million of the prior fiscal year. Pro forma net 
>loss, excluding stock compensation charges, was $2.6 million, or 4 cents a 
>share, compared to a net loss of $4 million, or 9 cents a share, the prior 
>year.
>
>
>
>

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