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Earnings Roundup: iXL beats 3Q estimates

iXL Enterprises, Inc. (Nasdaq: IIXL) posted a third quarter loss of 20 cents a share Thursday, far better than First Call's expected loss of 35 cents a share. Strong demand for its Internet consulting services and organic growth drove the quarter.

Shares were up 1 3/8 to 43, continuing their ascent since the company took off in its IPO. Results included loss from the company's Consumer Financial Network (CFN), a financial services and benefits platform. iXL Enterprises, Inc. is parent company of iXL, Inc., an Internet services company, and CFN.

Including all non-cash charges and the loss from CFN, net loss available to common stockholders was $12.9 million, or 20 cents a share for the third quarter of 1999, compared to a loss of $14.8 million, or $1.16 a share in the same period a year ago.

Revenue was $63.5 million, up 250 percent over the third quarter of 1998, and up 39 percent from $45.7 million in the second quarter of 1999. The company said all of iXL, Inc.'s sequential third quarter revenue growth was organic.

iXL Enterprises reported positive adjusted results from operations of $2.4 million excluding the losses of CFN, depreciation, amortization and non-cash stock compensation expenses. The company expects its pending acquisition of Tessera Enterprise Systems to be completed in the fourth quarter of 1999.

Third quarter 1999 revenue for CFN was $342,000 versus $75,000 for the same period a year ago. CFN had an operating loss of $8 million in the third quarter as a result of the development and marketing of its on-line platform.

CFN recently launched YouDecide.com, an e-commerce platform for financial services and related benefits. It has also signed strategic alliance agreements in the third quarter with Hoovers Online, Smartmoney.com and Earthlink, and will pursue pacts with other companies.

In other earnings news:

  • Another recently public offering, FTD.com (Nasdaq: EFTD) also posted results Thursday. The online flower and gift seller said first quarter loss was 9 cents a share, narrower than the 12 cents a share predicted by First Call.

    Shares inched ahead 1/32 to 6 9/32.

    Revenue was $12.4 million, an increase of 104 percent compared to $6.1 million in the quarter ended September 30, 1998. Net loss in the quarter ended September 30, 1999 was $3.85 million, or 9 cents a share, compared to a net loss of $1 million, or 2 cents a share in the year-ago quarter. FTD.com closed its initial public offering (IPO) shortly after the end of the quarter ended Sept. 30.

    During the quarter, orders increased 84 percent from the same period last year. Internet orders increased 170 percent in the current quarter to 69 percent of total orders.

  • MarketWatch.com, Inc. (Nasdaq: MKTW) reported third quarter loss of 50 cents a share, beating First Call's estimates loss of 64 cents a share on booming revenue.

    Shares were down 2 3/16 to 56 1/4, or 4 percent.

    Revenue was $7 million, a 287 percent increase over the 1998 quarter and a 45 percent improvement over the previous quarter's $4.8 million.

    Net loss of $6.9 million, or 50 cents a share, compares with $3.6 million, or 40 cents a share, in the third quarter of 1998. Of the overall loss, $15.8 million was related to non-cash items.

    MarketWatch.com's web sites saw page views increased 250 percent, over the comparable quarter of 1998 and 40 percent over the second quarter of this year. Unique users, according to DoubleClick, grew to an average of 4.6 million per month in the quarter.