Buchwert=2,4 Milliarden $, Markkapitalisierung=600 Mio. $ - gibt`s das? - 500 Beiträge pro Seite

[fsch]

MK=628,020,938 $, Kurs=10,3125 $

Hier scheint sich wohl eine Kurskatastrophe anzubahnen (klar, bei dieser Überbewertung):



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Quartalsbericht:

NBC Internet, Inc. Reports Second Quarter 2000 Financial Results

SAN FRANCISCO, July 26 /PRNewswire/ -- NBC Internet, Inc. (Nasdaq: NBCI), a leading Internet media company connecting buyers to sellers through premier portal, entertainment, utility, and e-commerce services, today announced its financial results for the second quarter ended June 30, 2000. NBC Internet (NBCi) reported revenues totaling $30.5 million for the second quarter of 2000, an increase of more than 95 percent over pro forma* revenues of $15.6 million for the year ago quarter.

For the quarter, NBCi incurred a pro forma net loss of $49.5 million, or $0.81 per share. This compares to a pro forma net loss of $24.9 million, or $1.49 per share for the second quarter of 1999. Pro forma net loss excludes the effects of acquisition-related amortization of intangible assets, in-process technology charges, and amortization of deferred compensation.

"In the second quarter, we began the work of integrating all of our consumer properties under the NBCi.com brand," said Will Lansing, NBCi`s Chief Executive Officer. "The new NBCi.com portal, which is slated to launch in conjunction with a major marketing campaign this fall, will have a cohesive look and feel, unified name space, consistent navigation and a distinctive personality, and will provide functionality, utility, and content from NBCi`s consumer Internet assets. It takes at least a billion dollars to develop a successful consumer brand in today`s ultra-competitive, noisy consumer marketplace, and positioning our unified offering under the Peacock is clearly the right thing to do."

On a basis consistent with GAAP, revenues earned by Snap.com and the NBC Multimedia Division prior to the NBCi merger are excluded from total revenues reported by NBCi. NBCi`s revenues of $30.5 million for the second quarter represents an increase of more than 366 percent over GAAP revenues of $6.5 million for the second quarter of 1999.

GAAP net loss, which includes the effects of acquisition-related amortization of intangible assets, in-process technology charges, and amortization of deferred compensation, for the second quarter ended June 30, 2000 was $151.9 million, or $2.47 per share. This compares to a net loss of $6.7 million, or $0.40 per share, reported in the same period of the previous year.

Second Quarter Highlights

Refined Business and Product Strategy
NBCi`s refined strategy centers around the acquisition of users and members and the monetization of the user/member relationship through advertising and direct marketing. NBCi aims to integrate its consumer properties under the single NBCi.com brand. Functionality from NBCi`s consumer portal, utility, and entertainment properties -- including Snap.com and XOOM.com -- will be combined into a single integrated NBCi.com portal, which is scheduled to launch in concert with a major advertising and promotional campaign during NBC`s new programming season in the fall. Broadband

Under the new strategy, broadband continues to be an important initiative for NBCi. In mid-June, NBCi announced a partnership with Prodigy, the nation`s largest provider of retail DSL Internet access to consumers, to provide NBCi`s broadband content services to Prodigy DSL subscribers. NBCi also announced an agreement to provide services to U S West "Online Avenue" DSL Internet service.

In May, the company unveiled ten new content channels on its broadband destination service. This new, seamless and easy to use channel navigation allows users to engage in integrated content experiences that combine audio, video, and animation in the following new content areas: business, entertainment, home, living, news, NBC-TV, shopping, sports, technology, and "the Web`s best." Key Acquisitions

On the acquisition front, NBCi closed two acquisitions -- flyswat, Inc. and GlobalBrain.net, Inc. -- and announced a third, Husdawg Communications, Inc., which technically closed at the end of the first quarter of 2000. All three acquisitions are expected to bolster the company`s strategy of brokering information, commercial, and entertainment transactions between NBCi`s consumers and partners.

flyswat is a leading navigational service that provides contextual links to a rich array of real-time content and commerce from any Web site or desktop document, enabling users to access content and commerce services from NBCi and other third-party providers -- anytime, anywhere. flyswat is expected to contribute to the company`s focus on increased member development and monetization, enabling NBCi to deepen its relationship with users and to distribute services direct to the desktop.

Husdawg, a leader in electronic registration services for the computer software, hardware industry, strengthens NBCi Direct, the company`s direct marketing and e-list management division. The Husdawg acquisition bolsters NBCi Direct`s ability to market direct e-commerce services to a wide range of computer software, hardware, and consumer product companies, helping NBCi to further build and better monetize relationships with members.

GlobalBrain.net`s innovative search technology and engineering resources serve as a key component within NBCi`s search and directory initiatives. GlobalBrain.net`s collaborative filtering and preference-ranking technology not only improves the relevancy of search results within NBCi`s hand-built directory, but will be applied to other features within NBCi`s soon-to-launch, unified portal service, allowing NBCi to provide its users with personalized, highly relevant content and commerce opportunities. NBC Relationship

NBCi`s relationship with NBC continues to deepen, with NBC`s support of NBCi`s plan to move to a unified brand, which is expected to help NBCi truly realize its branding potential. Another significant event with NBC was the announcement of multiple content and commerce agreements with NBCi`s Interactive Neighborhood asset, a localized Internet content service that NBCi offers to NBC`s owned and affiliated television stations nationwide. In addition to distribution on local NBC TV station Web sites, NBCi`s Interactive Neighborhood local services are currently available to users on NBCi`s Snap Internet portal and are slated to be integrated into the new NBCi.com portal scheduled to launch in the fall. NBCi`s AllBusiness.com

During the second quarter of 2000, NBCi`s AllBusiness.com, business-to-small business portal, announced several significant alliances, strengthening its position as a leading destination Web site offering comprehensive, practical solutions to the challenges of starting, managing, and growing a business. AllBusiness.com announced an alliance with GE Small Business Solutions to create a one-stop resource for small business owners -- delivering services ranging from financial solutions to office products via the Internet. In early May, AllBusiness.com announced content, e-commerce, and distribution agreements with McAfee Online, NextCard, and iVillage. Through these alliances, the business service gained added distribution to the fragmented small business community, while providing its users with extensive online PC-management resources, a co-branded credit card that provides discounts on select business services, and new resource centers for women. About NBC Internet, Inc.

NBC Internet, Inc. (NBCi) is a leading Internet media company connecting buyers to sellers through premier portal, entertainment and e-commerce services. NBCi serves its users and its partners by brokering information, commercial, and entertainment transactions. NBCi`s consumer portal -- www.snap.com -- provides Internet search and directory, information, community, e-commerce, and entertainment services. NBCi`s broadband destination -- www.nbci.com -- aggregates top quality multimedia content and services for high-speed users. NBCi`s business-to-small business portal -- www.allbusiness.com -- offers information, products, and services to help small businesses start and grow.

NBCi was launched in November 1999 through the combination of Snap, XOOM.com, NBC.com, NBC Interactive Neighborhood, VideoSeeker, and a 10 percent equity stake in CNBC.com. NBC Internet publicly trades under the ticker NBCI on The Nasdaq Stock Market(R). NBC, a subsidiary of General Electric Company (GE), holds a 39.3 percent ownership stake in NBCi. NBCi is headquartered in San Francisco and has offices in New York City, Los Angeles, and Chicago. For more information about NBCi and its Internet services, please see the NBCi corporate Web site at www.NBCi.com/corporate.

*Pro forma revenues represent the combination of XOOM.com, Snap.com, and the NBC Multimedia Division (which consists of NBC.com, NBC Interactive Neighborhood, and VideoSeeker), as if they had been combined at the beginning of the periods presented. Pro forma revenues, which are not presented on a basis consistent with generally accepted accounting principles (GAAP), exclude certain non-recurring revenues earned from equity instruments by the NBC Multimedia Division, as well as revenues earned by companies acquired prior to their acquisition dates. Pro forma revenues have been provided for illustrative purposes only.

This press release contains statements that are forward-looking. These statements are based on NBCi`s expectations of its future results as of the date of this press release, and NBCi undertakes no duty to update these statements. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those listed from time to time in NBC Internet Inc.`s SEC reports, including but not limited to the Registration Statement on Forms S-1 and S-4 filed by NBC Internet, Inc., as amended and the Form 10-K filed on March 28, 2000 and the Form 10-Q filed on May 11, 2000. Important factors that could cause the results to differ materially from those in any such forward-looking statements include: NBCi`s limited operating history; unpredictability of its quarter-to-quarter results; its unproven business model and dependence on members; risks associated with its international operations; its reliance on a network infrastructure; its dependence on vendors and suppliers; management of its growth and expansion; risks associated with brand development; its reliance on advertising revenue; intense competition with other Web communities and businesses; the risks of infringement of intellectual property rights; risks associated with acquisitions; and reliance on strategic relationships.

NBC Internet, Inc.
Pro Forma Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)

Three Months Ended Six Months Ended
June 30 June 30,
2000 1999 2000 1999
Net revenue:
Advertising $25,272 12,300 $49,723 $20,982
E-commerce 5,190 3,315 10,862 5,972
Total net
revenue 30,462 15,615 60,585 26,954

Cost of net
revenue 12,923 8,318 22,319 15,163

Gross profit 17,539 7,297 38,266 11,791

Operating
expenses:
Operating and
development 16,145 3,958 28,059 7,080
Sales and
marketing 23,060 12,148 41,744 22,050
General and
administrative 16,603 5,733 28,188 10,854
Promotion and
advertising
provided
by NBC 18,011 12,381 38,073 26,037
Total operating
expenses 73,819 34,220 136,064 66,021
Loss from
operations (56,280) (26,923) (97,798) (54,230)

Other income
(expense):
Interest
income 10,683 2,631 19,801 3,008
Interest
expense (3,913) (630) (7,825) (660)

Pro forma
net loss $(49,510) (24,922) $(85,822) $(51,882)

Pro forma
net loss
per share
- basic
and diluted $(0.81) $(1.49) $(1.46) $(3.39)

Number of
shares used
in pro forma
per share
calculation
- basic
and diluted 61,444 16,777 58,723 15,288

Note: Certain prior year balances have been reclassified to conform with current year presentation.

The pro forma statement of operations information for the three and six months ended June 30, 2000 and 1999 is for illustrative purposes only and is not prepared in accordance with generally accepted accounting principles. For the three and six months ended June 30, 1999, it combines the operating results of Xoom.com, Snap! LLC, and the NBC Multimedia Division (which consists of NBC.com, NBC-IN.com, and VideoSeeker) as if they had been combined as of January 1, 1999. (A) This pro forma statement of operations excludes the following items:

(i) acquisition-related amortization of intangible assets of $94.8 million and $1.4 million for the three month periods ended June 30, 2000 and 1999, respectively;

(ii) acquisition-related amortization of intangible assets of $164.6 million and $2.3 million for the six month periods ended June 30, 2000 and 1999, respectively;

(iii) acquisition-related in-process research and development charges of $3.8 million and $2.6 million for the three and six month periods ended June 30, 2000 and 1999, respectively;

(iv) acquisition-related amortization of deferred compensation of $3.8 million and $175,000 for the three month periods ended June 30, 2000 and 1999, respectively;

(v) acquisition-related amortization of deferred compensation of $4.9 million and $405,000 for the six month periods ended June 30, 2000 and 1999, respectively;

(vi) historical advertising revenues of $4.4 million and $6.3 million for the three and six month periods ended June 30, 1999, respectively. Such non-recurring revenues were earned from the receipt of equity instruments in connection with the NBC Multimedia Division`s outsourcing agreements; and

(vii) the historical results of operations for the periods prior to the dates of acquisition for all acquired businesses of Xoom.com, other than those listed above, have been excluded from the pro forma condensed consolidated statements of operations for the three and six month periods ended June 30, 2000 and 1999. (B) basic and diluted net loss per share has not been adjusted to reflect the issuance of (i) 7,245,063 shares of Class A common stock to CNET and an unaffiliated third party; and (ii) 23,590,680 shares of NBCi`s Class B common stock to an affiliate of NBC for the three and six month periods ended June 30, 1999.

NBC Internet, Inc.
Condensed Consolidated Statement of Operations
(Unaudited)
(In thousands, except per share amounts)

Three Months Ended Six Months Ended
June 30, June 30,
2000 1999 2000 1999

Net revenue:
Advertising $25,272 $3,210 $49,723 $4,975
E-commerce 5,190 3,315 10,862 5,972
Total net
revenue 30,462 6,525 60,585 10,947

Cost of net
revenue 12,923 3,720 22,319 6,499

Gross profit 17,539 2,805 38,266 4,448

Operating
expenses:
Operating and
development 16,145 1,010 28,059 1,774
Sales and
marketing 23,060 4,607 41,744 6,689
General and
administrative 16,603 2,043 28,188 3,666
Promotion and
advertising
provided
by NBC 18,011 -- 38,073 --
Purchased
in-process
research and
development 3,768 2,603 3,768 2,603
Amortization
of deferred
compensation 3,782 175 4,868 405
Amortization
of intangible
assets 94,843 1,442 164,551 2,304
Total operating
expenses 176,212 11,880 309,251 17,441
Loss from
operations (158,673) (9,075) (270,985) (12,993)

Other income
(expense):
Interest
income 10,683 2,368 19,801 3,008
Interest
expense (3,913) (35) (7,825) (65)

Net loss $(151,903) $(6,742) $(259,009) $(10,050)

Net loss
per share
- basic
and diluted $(2.47) $(0.40) $(4.41) $(0.66)

Number of
shares used
in per share
calculation
- basic
and diluted 61,444 16,777 58,723 15,288

NBC Internet, Inc.
Condensed Consolidated Balance Sheets
(In thousands)

June 30, December 31,
2000 1999
ASSETS (unaudited)
Current assets:
Cash, cash equivalents
& marketable securities $285,435 $166,011
Accounts receivable, net 23,335 17,223
Note receivable from NBC,
current portion 80,416 78,288
Other current assets 47,891 46,807
Total current assets 437,077 308,329

Fixed assets, net 45,026 18,096
Intangible assets, net 1,925,361 1,759,473
Marketable securities,
including restricted cash
of $8,942 and $8,990 in
2000 and 1999, respectively 71,070 27,035
Long-term note receivable
from NBC, less current portion 220,965 261,712
Other assets 139,557 119,451

Total assets $2,839,056 $2,494,096

LIABILITIES AND STOCKHOLDERS` EQUITY
Current liabilities:
Accounts payable and other
accrued liabilities $44,676 $50,452
Notes payable, current portion 997 155
Amounts due to related parties,
current portion 12,643 41,792
Deferred revenue 37,311 18,943
Total current liabilities 95,627 111,342

Convertible notes payable due
to NBC and its affiliates 370,000 370,000
Long-term obligations,
less current portion 23,617 12,970
Long-term liabilities 393,617 382,970

Stockholders` equity:
Common stock 2,747,593 2,100,111
Accumulated other
comprehensive income (19,011) 4,994
Deferred compensation (18,561) (4,121)
Accumulated deficit (360,209) (101,200)
Total stockholders` equity 2,349,812 1,999,784

Total liabilities and
stockholders` equity $2,839,056 $2,494,096



© Copyright 2000, The Nasdaq Stock Market, Inc. All Rights Reserved.
Please read our Disclaimer, Trademarks, and Privacy Statement.

[Gigaguru]

Um Deine Frage zu beantworten, fsch: Offenbar geht es! Falls Du zum Ausdruck bringen wolltest, dass dies absurd ist und nicht von Dauer sein kann, stimme ich Dir uneingeschränkt zu!

Gigaguru

[fsch]

@Gigaguru,

freut mich, daß gerade Du mir eine Meinung postest!

Glaubst Du man könne viel falsch machen, wenn man sich ein paar von diesen Dingern ins Depot legt?

Grüße, fs

[Gigaguru]

Man kann absolut nichts falsch machen, würde ich sagen, fsch. Ich selbst hatte bei 16 US-$ bereits (etwas zu früh) nachgekauft, schon das waren lächerliche Kurse. NBCi hat von dem aktuellen Kurs ausgehend riesiges Potenzial.

Gigaguru

[fsch]

@Gigaguru,

ich danke Dir!!!

Genauso sehe ich das auch.

Grüße, fs

p.s.:
Laß Dich von diesen Kleingeistern nicht klein kriegen

[fsch]

Mühsam ernährt sich das Eichhörnchen

[Rex Corda]

Hi allerseits,

ist ja unglaublich: ein Thread von fsch und nur mit fsch und Gigaguru ---
und keine Häme, kein Neid, keine Pamphlete, keine Verunglimpfungen...

ich glaub`s einfach nicht

Grüße aus dem Cyberspace, Rex

PS:
Ich sei - gewährt mir diese Bitte -
in Eurem Bund der Dritte

[slo]

Hallo fsch!

Hier scheint sich wohl eine Kurskatastrophe anzubahnen (klar, bei dieser Überbewertung)

Solltest Du tatsächlich der lebende Kontraindikator sein, wie oftmals in diesem Board gemutmaßt?
Bei Betrachten des heutigen Schlusskurses drängt sich der Verdacht auf!

Gruß, slo.

PS: Weiter so!

[fsch]

@slo,

abwarten

Grüße, fs

p.s.:
Kurzfristig geht`s evtl. (hoffentlich) noch auf 3,- US-Dollar runter. Nichtsdestotrotz wird dieser Wert der Outperformer der nächsten Internetrally.

[Sstocktrader]

Auf $3 runter?

Wo leben sind wir denn, bei wünsch dir was ?

MfG Sstocktrader... .

[fsch]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[Eldritch]

Hmm, bin durch den Thread neugierig geworden und hab mal ein paar Nachrichten durchforstet. Hört sich ja alles nicht so dolle an. Anbei eine (allerdings etwas ältere) Einschätzung aus forbes.com (schön finde ich die Definition von Market Performer ganz unten).
Wieso glaubt ihr also, daß in diesem Wert riesiges Kurspotential steckt?



At NBCi, The `I` Is For Inconsistent
By Dan Ackman


NBCi went public last November at $76 per share. Investors attracted by the famous name have since traded the shares as high as $106. Yesterday the stock closed at $10.06, down 87% since the IPO. But among analysts on Wall Street, all is well.

NBCi (Nasdaq: NBCI - news) announced its second quarter results July 25, and analysts reported that these results--in which pro forma net losses doubled from a year ago to $49.5 million--were in line with expectations. That`s because the company had warned six weeks earlier that results would be worse than were then expected.

NBCi is a ``market outperformer,`` says Tonia Pankopf, an analyst at Goldman Sachs, which took NBCi public. ``The flagship portal will better be able to monetize its traffic by creating a single brand image,`` she says. This seems to be another way of saying the Web site will make more money once it changes its name. The new site will relaunch in September.

This ``branding`` notion is the strategy of the moment at NBCi. Jeff Fieler of Bear Stearns, which co-managed the IPO with Goldman Sachs, calls it ``using the brand name to create one aggregate functionality.`` In other words, the idea is to have one name but do many things. Disparate sites like Xoom, a service that allows consumers to build and post Web sites, and Snap, a portal and search engine, will be folded into a unified site.

Pankopf endorses this strategy, saying: ``The company is pursuing the correct course regarding its branding and product strategy.`` But this is not all that NBCi is doing. It also has a broadband strategy. The company refers to an ``easy-to-use channel navigation [that] allows users to engage in an integrated content experience in new content areas.`` This may sound like using a Web browser and RealPlayer to surf the Net, but apparently it`s much more.

Pankopf endorses this strategy, too. ``NBCi continued to take full advantage of the proliferation of broadband access,`` she says. It has a deal with Prodigy (Nasdaq: PRGY - news) and SBC Communications (NYSE: SBC - news), both of which provide DSL access. Of course, once a user has DSL access, he can use it to look at any site, not just NBCi.

NBCi started by buying Snap and Xoom and combining them with its own NBC Web properties. It also has Allbusiness.com, a site offering ``practical solutions to the challenges of starting, managing and growing a business,`` and several other properties. But NBC`s best Web properties, CNBC (of which NBCi owns just 10%) and MSNBC, which is half-owned by Microsoft (Nasdaq: MSFT - news), were left out of the mix. NBCi went public, with NBC, a subsidiary of General Electric (NYSE: GE - news), holding 47% of the shares. Because NBCi bought several other businesses, it now owns 40%.

The downward spiral in NBCi stock price started in January, while the Nasdaq was still rising. Although NBCi bought Xoom and Snap because they were themselves strong brands, the new idea is that there should be a unified brand using the famous NBC name.

But even the best ideas have their limits. NBCi will market its Allbusiness site as a separate brand. That`s because NBC is a consumer brand and Allbusiness appeals to business, Fieler says. Either way, NBCi still makes nearly all of its revenue from banner ads, 87% of which comes from dot-com advertisers, analysts say.

The losses continue to mount: $51.9 million during the first six months of last year, $85.8 million for the first six months of this year. Stuart Halpern of Banc of America Securities estimates the company will lose $221.5 million this year before starting a turnaround of sorts. Next year he projects it will lose slightly less, $209.6 million.

Halpern, like his fellow analysts, predicts that NBCi will continue to increase revenue, as it has done, while stemming the tide of expense growth. In the past, NBCi has doubled revenue only by doubling expenses. Analysts don`t say why this trend--new brand strategies aside--will change.

Goldman`s Pankopf sees good news in NBCi`s ``position[ing] itself as an infomediary, which facilitates various transactions.`` Sounds like the company plans to sell stuff via the Internet.

Halpern of Banc of America, which played a lesser role in taking the company public, is a bit less sanguine. He says, ``NBCi`s success will be determined by a number of factors about which there is limited visibility.`` This sounds like he doesn`t know what will happen, but he also says ``management is on the right track`` and predicts the share price will rise to $15 based on a discounted cash flow analysis. That`s where the stock traded in June. Of course, two months earlier, the shares sold for twice that figure.

NBCi is a ``market performer,`` Halpern says. If that means the company will be in the market and will perform somehow, he will certainly be right, at least for a while. But if things get much worse, NBCi may be getting advice about itself on Allbusiness.com.