Net vendors check in
Infoseek and Vantive Technology surface in the slew of high-technology companies to report quarterly earnings, both showing an improved financial picture.
Infoseek reported revenues of $4 million, up 22 percent from $3.3 million the prior quarter, boosted by higher advertising income. It lost $3.7 million, or 14 cents per share, but that was less than the $4.7 million loss, or 52 cents per share, reported in the June quarter.
"This quarter's revenue growth was the result of our appeal to a broadening range of advertisers interested in reaching a high-quality audience, which Infoseek's personalized, targeted services generate," CEO Robin Johnson said in a statement. The company's advertisers include Bank of America, British Airways, General Motors, the New York Times, Microsoft, Nynex, Oracle, Pacific Bell, and Wells Fargo Bank.
Vantive did even better, with a profit of $3.1 million for the quarter that ended September 30, compared to $600,000 for the same quarter the previous year. Sales came in it at $17.2 million, up 161 percent from $6.6 million in revenues the previous year. Adjusted for a 2-for-1 stock split on October 14, net income per share was 12 cents compared to 3 cents for the same 1995 quarter.
Vantive sells software to automate sales, marketing, customer support, defect tracking, field service, and internal help desk functions. Vantive made itself into an Internet company and raised its profile last month by adding a tool to its Vantive Sales software that lets technical support calls be handled via the Web.
Vantive also plans to integrate AT&T's Internet-enabled cellular telephone into its product offering, as well as software from Unwired Planet with Vantive Enterprise to let users of cellular phones and two-way pagers get customer data.
CNET: The Computer Network (CNWK) also reported its earnings today. The company posted a net loss of $4.68 million, or 35 cents per share, compared to a $4.32 million loss in the previous quarter.
Revenues climbed 72 percent to $4.52 million for the third quarter, up from $2.63 million in the quarter that ended June 30. CNET went public in July.