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NetCreations meets 3Q estimates

NetCreations, Inc. (Nasdaq: NTCR) met reduced analyst estimates for the third quarter Wednesday but warned that the dot-com slowdown would affect results for the fourth quarter and 2001.

Shares of the e-mail marketer were unchanged early in the session at 8.34.

Net income for the third quarter came in at $576,347, or 4 cents per diluted share, meeting First Call's target number. Year-over-year net income was down compared to the $1.3 million, or 11 cents diluted share reported in the third quarter of 1999.

Net revenues were $14.2 million, a 187.7 percent increase over the $4.9 million recorded in the same period in 1999. Operating income was $565,567, down from $1.4 million in the third quarter of 1999.

NetCreations' third quarter numbers were lowered in September after the company warned that it would miss original estimates because of a slowdown in Internet ad revenues.

In a news release Wednesday, the company said these concerns will persist, affecting financial results in the fourth quarter and into 2000.

First Call consensus currently predicts per-share earnings of 11 cents and 50 cents for NetCreations' fourth quarter and 2001, respectively.

In the quarter, NetCreations saw sequential growth in new e-mail registrations, averaging 55,000 new e-mail addresses a day compared to an average of 30,000 per day in the second quarter.

In October, DoubleClick Inc. (Nasdaq: DCLK) announced that it will buy NetCreations in a $191 million stock swap. The deal is expected to close in the fourth quarter of this year.