[JA] NetZero Reports 4th Quarter Losses
- From: Jim Henderson <jim.henderson@xxxxxxxx>
- To: juno_accmail@xxxxxxxxxxxxx
- Date: Tue, 28 Aug 2001 14:56:56 -0400
Official reports are heavily regulated by financial authorities, but
keeping them from lying does not make them easy to read.
> Subject: [JA] Re: NetZero Reports Fourth-Quarter Results
> From: Billy Wong <bhs1989@xxxxxxxx>
> > NetZero Reports Fourth-Quarter Results; Billable Services
> > Revenues Grow 137% vs. Preceding Quarter; Cash Balances
> > of $135 Million At Quarter End; Pro Forma Net Loss
> > of $0.33 Per Share
> > reported total revenues of $12.0 million for its fourth fiscal
> > quarter ended June 30, 2001...
> I'm not a expert businessman or an investor, so what does the
> whole article mean in plain language? Is NetZero doing well, poor,
> or average?
Poor. They only lost $38 million in three months, but that's more than
the previous three months and more than the same three months of last
year. They cut their phone costs by cutting our free hours to 40 per
month, and they hope to cut cost more by cutting us to 10. Their
expensive television advertising contracts have run out, thank goodness,
so they no longer need to pay so much money to get more users who eat up
more money. Firing one quarter of the company's employees didn't help
much.
Users are more numerous, but we are not bringing in much ad revenue. They
hope to get more to pay $10 per month instead of taking it for free.
They took over some smaller companies and intend to merge with Juno.
They keep losing more money and there is no immediate prospect of making
a profit, but more $10 per month users are the company's principal hope
of not losing so much they run out of money and close the doors.
Or in a nutshell, doing poorly.
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