$$$ ACHTUNG! - VERTICAL NET steht vor Rebound!!! $$$ - 500 Beiträge pro Seite

[TomSec]

Nicht schlecht Herr Specht




Verticalnet Reports Financial Results For the Fourth Quarter and Fiscal Year 2002; Cost Structure Improvements and Customer Projects Result in Improved Financial Outlook


MALVERN, Pa., Mar 4, 2003 (BUSINESS WIRE) -- Verticalnet, Inc. (NASDAQ: VERT), a
leading provider of Collaborative Supply Chain Solutions, today announced
results for its fourth fiscal quarter and fiscal year ended December 31, 2002.

Revenues for the quarter ended December 31, 2002 were $22.9 million, compared to
revenues of $7.5 million for the quarter ended December 31, 2001. As reported in
the Form 10-Q for the quarter ended September 30, 2002, Verticalnet and
Converge, Inc. agreed to amend their subscription license agreement effective
October 1, 2002. The amendment terminated the obligation of Verticalnet to
provide future products to Converge. As a result, previously deferred revenue of
$19.6 million was recognized during the fourth quarter of 2002. As all amounts
due under the subscription license agreement had been previously collected, the
deferred revenue recognized did not represent additional cash inflows to the
company in the fourth quarter. Revenues excluding those related to the Converge
subscription agreement termination were $3.3 million.

Income from continuing operations for the quarter ended December 31, 2002 was
$17.4 million, or $1.30 per diluted share compared to a loss of $119.6 million,
or $12.26 per diluted share for the quarter ended December 31, 2001. Excluding
revenues related to the termination of the Converge subscription agreement, loss
from continuing operations for the quarter ended December 31, 2002 was $2.3
million, or $0.17 per diluted share.

Revenues for the year ended December 31, 2002 were $43.7 million, compared to
revenues of $36.1 million for the year ended December 31, 2001. Excluding
revenues related to the termination of the Converge subscription agreement,
revenues for the year ended December 31, 2002 were $24.1 million.

Loss from continuing operations for the year ended December 31, 2002 was $30.9
million, or $2.56 per diluted share, compared to a loss of $670.2 million or
$69.92 per diluted share for the year ended December 31, 2001. Excluding
revenues related to the termination of the Converge subscription agreement, loss
from continuing operations for the year ended December 31, 2002 was $50.5
million, or $4.18 per diluted share.

Net income attributable to common shareholders for the year ended December 31,
2002 was $74.7 million, or a loss of $1.87 per diluted share (loss per diluted
share excludes the preferred stock dividends and the impact from the redemption
of the preferred stock), compared to a loss of $768.3 million, or $79.27 per
diluted share, for the year ended December 31, 2001. The difference between
income from continuing operations and net income attributable to common
shareholders is due to income or losses from discontinued operations and the
negative dividend on the repurchase of preferred stock, net of preferred stock
dividends paid. As reported on Form 8-K on July 15, 2002, the company
repurchased all of its outstanding preferred stock for $5.0 million during 2002.
The difference between the carrying amount and the amount paid is recorded as a
negative dividend in the accompanying consolidated statement of operations.

As of December 31, 2002, Verticalnet had cash, cash equivalents, and marketable
securities of $9.0 million, compared to $11.8 million as of September 30, 2002.

Renewed Commitment to Software Business

Verticalnet also announced a renewed commitment by management and the Board of
Directors to the continued development, sales, and support of leading software
solutions. In November 2002, Verticalnet announced its intention to pursue
strategic alternatives, including a possible sale of the company. As a result of
restructuring efforts and an increase in new revenue generating projects with
existing customers, management believes that the optimal path for delivering
value to shareholders is through continued operation of the company. While other
strategic alternatives, including the sale of the company, will continue to be
considered, Verticalnet confirmed that the primary actions of management are
focused on building a profitable software business.

"When I assumed the CEO role in November, Verticalnet`s stated objective was to
sell the company," said Nathanael V. Lentz, president and CEO of Verticalnet.
"Since November, the management team has focused on developing our existing
customer relationships, retaining our key people, and diligently attacking our
non-headcount related cost structure. As a result of these efforts, we have
initiated over $3.0 million in new services projects with existing customers and
have taken steps to reduce our ongoing operating expenses resulting in $5.7
million in annualized savings to date," Lentz continued. "As a result of these
significant developments, we have improved our ability to continue as a
standalone entity, and our management team is increasingly focused on customer
service and new customer acquisition while maintaining tight cost controls.
While we have exceeded our expectations in recent months, Verticalnet still
faces a challenging market environment for enterprise software. We expect
continued improvement in our utilization of cash, and will continue to report on
our progress in growing the software business."

Customer Projects

Verticalnet initiated five new projects with existing customers to both expand
their use of Verticalnet software as well as to build out additional
capabilities. Since the beginning of the fourth quarter, Verticalnet has
initiated new projects with a value of over $3.0 million. Verticalnet expanded
engagements with its industry leading customers including IKEA, Premier, Inc.,
MasterBrand Cabinets (an operating unit of Fortune Brands), and Valvoline.
Additionally, four Verticalnet customers had successful "go-lives" over the
period. "Since November 2002, the management team has focused intensively on
first stabilizing, and then strengthening, relationships with our existing
customers", said Lentz. "The fact that industry leaders such as IKEA, Valvoline,
Premier, and MasterBrand Cabinets are expanding their use of our software
despite the current business climate is a testament to the value we are
delivering and to the quality of our software and professional services
personnel. We are committed to delivering significant, sustained value to our
customers, and our customers continue to reward us for demonstrating this
commitment."

Restructuring Efforts Deliver Results

Efforts to reduce Verticalnet`s cost structure over the past five months have
resulted in significant reductions in lease obligations and operating expenses
for the company. In January 2003, Verticalnet amended its lease with its primary
landlord netting annual savings of $2.7 million in lease payments and a
reduction in off-balance sheet obligations of $16.4 million for a one-time
payment of approximately $1.5 million. Additional restructuring efforts yielded
an incremental $3.0 million in projected annual cost savings. "During the fourth
quarter of 2002 and first two months of 2003, we continued our focus on
Verticalnet`s cost structure," said Gene S. Godick, Verticalnet CFO. "While
acknowledging our financial challenges, we believe that our successful
restructuring activities combined with recent customer projects have improved
our financial outlook, and have provided us with additional resources to
continue our turn-around efforts."

About Verticalnet

Verticalnet (NASDAQ: VERT) is a leading provider of Collaborative Supply Chain
Solutions that enable companies and their trading partners to communicate,
collaborate and conduct commerce more effectively. With a comprehensive set of
Collaborative Supply Chain applications including Spend Analysis, Strategic
Sourcing, Collaborative Planning and Multi-tier Order Management, Verticalnet
offers an extensive integrated supply chain solution. Verticalnet`s solutions
enable companies to achieve significant cost savings by reducing product costs
and inventory levels, and to enhance top-line revenue growth through faster
response to customer requirements. For more information about Verticalnet,
please visit www.verticalnet.com.

Cautionary Statement Regarding Forward-Looking Information

This announcement contains forward-looking information that involves risks and
uncertainties. Such information includes statements about Verticalnet`s expected
fourth quarter financial results as well as statements that are preceded by,
followed by or include the words "believes," "plans," "intends," "expects,"
"anticipates," or similar expressions. For such statements, Verticalnet claims
the protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. Actual results may differ
materially from the results predicted, and reported results should not be
considered as an indication of future performance. Factors that could cause
actual results to differ from those contained in the forward-looking statements
include, but are not limited to, the availability of and terms of equity and
debt financing to fund our business, our reliance on the development of our
enterprise software business, competition in our target markets, our ability to
maintain our listing on the NASDAQ Stock Market, economic conditions in general
and in our specific target markets, our ability to use and protect our
intellectual property, and our ability to attract and retain qualified
personnel, as well as those factors set forth in Verticalnet`s Annual Report on
Form 10-K for the year ended December 31, 2001, and its Quarterly Reports on
Form 10-Q for the periods ended March 31, 2002, June 30, 2002 and September 30,
2002, which have been filed with the SEC. Verticalnet is making these statements
as of March 4, 2003 and assumes no obligation to publicly update or revise any
of the forward-looking information in this announcement.

Verticalnet is a registered trademark or a trademark in the United States and
other countries of Vert Tech LLC.




Legt sie euch mal auf die WL.

Gruß
Tom

[xanda1]

verticalnet,
ich werd sentimental.
die waren mal mein absoluter glücksbringer.
letzter verkauf bei $66 oder so ähnlich.
aber war dazwischen nicht ein revsplit?

[Kursfuzzi]

@ xanda1

ja, Reverse-Split 1:10

Die Aktie die du mal für 66€ verkauft hast ist heute Splitbereinigt bei 7,3 €-Cent!!!!!
Kurs heute in Frankfurt 73 Cent plus 14%!!!!
Kommt also ergo von 6,4 oder 64 Cent!!
Man oh mann