Switchboard Inc. (SWBD) - 500 Beiträge pro Seite

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Profile:Switchboard Inc. is a provider of Web-hosted directory technologies and customized yellow pages platforms to yellow pages publishers, newspaper publishers and Internet portals that offer online local directory advertising solutions to national retailers and brick-and-mortar merchants across a full range of Internet and wireless platforms. The Company offers a broad range of functions, content and services, including yellow and white pages, product searching, location based searching and interactive maps and driving directions. The Company`s Website, Switchboard.com, is a showcase for its technology and breadth of directory product offerings, and is a resource to consumers and businesses alike.

http://www.switchboard.com

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How to Run a Profitable Internet Company
April 8, 2003
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Questions that you`ve got to ask . . .
-- 1. Who`s Your Daddy?
-- 2. Whose Field Are You Plowing?
-- 3. How Can We Make It EASIER?
-- 4. What DON`T You Do Well?
-- 5. What Does Everybody Else Do Wrong?
-- The Bottom Line
-- Feedback
-- Answer to Last Week`s Brain Teaser
-- This Week in Pictures
-- Who`s Da Bomb?
-- What a Great Testimonial (or not)
-- This Week`s Brain Teaser


We just completed a major revision to our Internet Yellow Pages directory (my REAL job) and some of the lessons we learned may be useful to you in your business.

A quick backgrounder . . . WorldPages.com is the online version of the 333 printed telephone directories we publish in 25 states.

Our internet revenue comes from some of the 230,000 advertisers in our printed directories paying a couple of dollars each month for us to put their ads from the book online. We have 3 full time internet employees including me.
And believe it or not, I spend some of my time writing newsletters.

Here are key questions we asked when designing the new WorldPages.com.

1. Who`s Your Daddy?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Before you begin, you`ve got to determine your "long term" revenue plan. This is where most Internet companies went wrong.

Our Internet revenue comes from local businesses who advertise in our print directories. Serving these local businesses (and our sales reps who sell them ads) means we also have to attract plenty of local users, but every decision comes back to the same question,

"How can we better serve our local advertisers?"

The single minded focus on local advertisers helped us avoid knee jerk decisions that would ultimately undermine the foundation of our business.

We decided to only accept online advertising from businesses that advertise in our local print directories. This forces us to keep our sales reps and advertisers happy if we want them to renew.

National companies that advertise in our print directories may also have their ads on WorldPages.com. They are treated the same as our local advertisers in terms of priority and positioning.

Check out the NEW WorldPages.com


2. Whose Field Are You Plowing?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Selling advertising is hard work.

The ads we sell only appear on our own Internet Yellow Pages because we`re building an asset base: the directories we publish.

We could certainly achieve higher short-term revenue selling ads on Yahoo, AOL, CitySearch, and so on. However, we`d be using our sweat to build their asset.

In effect, we`d be "internet sharecroppers" and might eventually be thrown off the farm we helped cultivate.

Instead, we put our focus on building our own asset (which is much, much harder), but it increases in value with every advertiser we add.


Check out the NEW WorldPages.com


3. How Can We Make It EASIER?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


As I reported in "Can You READ Me Now?", literacy rates in the US are appalling low.



Understanding that many Internet users (and this includes our sales reps and advertisers) are "Internet-Phobic", we kept tweaking the design until we came up with the simplest interface possible.



We`re not quite Google-simple, but for an Internet Yellow Pages we`re getting close.



We kept all of the advanced features from the original site, but we designed our main site so that there would be minimal distractions between the visitor and the advertiser.



Check out the NEW WorldPages.com


4. What DON`T You Do Well?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
First, we tried very unsuccessfully to design the new WorldPages.com ourselves.

Ultimately, we realized that we needed professional help; so we enlisted the services of a web designer that had experience with directory-style sites. It was immediately clear that we would have made several disastrous errors had we done it ourselves.

Second, we recognized that we`re not a technology company; so we`ve outsourced the underlying database management to Switchboard.com. We recognize that our strength is in selling ads and publishing printed directories. By partnering with Switchboard, we saved time and money and we have a much better product than we could have developed on our own.


Check out the NEW WorldPages.com


5. What Does Everybody Else Do Wrong?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You can`t copy your way to greatness.

We evaluated our competitors` online directories for ways that we could be different. Specifically, we found three ways to accomplish our business goals AND to set ourselves apart:

We removed all banner ads from the WorldPages.com because they don`t serve our Daddy (see #1 above)


We banned all pop-up advertising for the same reason


We didn`t allow national advertisers to bump the local guys from the top spots. Our competitors put large national advertisers above the local guys. Instead, we made the local guys and national guys equal. Sure we miss some easy money, but it`s better in the long run.

Link to WorldPages.com


The Bottom Line
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
By focusing on the questions listed above, we`ve developed an internet division that integrates well into the rest of the company.

It supports "Big Daddy" and contributes substantially to the bottom line.

We may never be a "Trillion Dollar Company", but who really is?

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Switchboard Reports First Quarter 2003 Financial Results
Tuesday April 29, 4:09 pm ET
Achieves First Profitable Quarter on a GAAP Basis


WESTBOROUGH, Mass., April 29 /PRNewswire-FirstCall/ -- Switchboard Incorporated (Nasdaq: SWBD - News), a leading provider of directory technology and online yellow pages solutions, today announced its financial results for its first quarter ended March 31, 2003, achieving better than anticipated profitability.

For the first quarter of 2003, net revenue was approximately $3.3 million, which compares to approximately $3.4 million in the fourth quarter of 2002. Net revenue for the first quarter compares to $2.9 million in the first quarter of 2002, which included $1.1 million of amortization of consideration provided to AOL. First quarter 2003 net revenue was comprised of approximately 88 percent from merchant network revenue and approximately 12 percent from banner and site sponsorship advertising revenue.

Switchboard reported net income for the first quarter of approximately $56,000, or $0.00 per share, compared to a net loss of $180,000, or $0.01 per share, in the fourth quarter of 2002, which included the reversal of approximately $262,000 of restructuring reserves. Net income for the first quarter compares to a net loss of $1.0 million, or $0.06 per share, reported in the first quarter of 2002. Switchboard had approximately $53.7 million in cash and marketable securities at the end of the first quarter of 2003, approximately $125,000 below the $53.9 million reported at the end of the fourth quarter of 2002.

"During the quarter Switchboard achieved a significant milestone, reaching profitability for the first time," said Douglas J. Greenlaw, CEO of Switchboard. "This milestone was achieved through effective management of our expenses in tandem with the progress of key partners. We anticipate that the local online advertising market will continue to evolve and as it does, we plan to aggressively deploy new approaches to capturing local advertising revenues and consumer loyalty, through the ongoing development of innovative technology and highly-targeted sales and marketing programs."

"Our revenue for the first quarter of 2003 remained relatively flat compared to the previous quarter, primarily due to the anticipated decrease in the AOL royalty rate upon achievement of predetermined revenue milestones," said Robert Orlando, CFO of Switchboard. "However, we are quite encouraged by AOL`s commitment to improve its sales activities and the initial revenue contribution from BellSouth, which helped us achieve net income for the first time and revenue at the high end of our anticipated range."

Guidance

For the second quarter of fiscal 2003, the Company anticipates revenue to be in the range of $3.4 million to $3.8 million. Net income for the period is expected to be in the range of breakeven to a net profit of $300,000, or $0.02 per share. Total cash and marketable securities on hand at the end of the second quarter is expected to be in the range of $53.3 million to $53.6 million.

Conference Call Information

Switchboard will hold a conference call on Wednesday, April 30 at 8:30 a.m. EDT to discuss its first quarter 2003 results. To join the call, please dial 1-800-946-0705 in the U.S. and 719-457-2637 outside of the U.S., pass code 168874. There will be a live Webcast available on the Switchboard investor relations Web site at www.switchboard.com under "About Switchboard- Investor". A replay of the call will be available two hours after the live call through Wednesday, May 7, 2003. To access the replay, please visit www.switchboard.com under "About Switchboard-Investor" or dial 1-888-203-1112 in the U.S. and 719-457-0820 outside of the U.S. and enter pass code 168874.

About Switchboard Incorporated

Headquartered in Westborough, Mass., Switchboard Incorporated is a leading provider of Web-hosted directory technologies and customized yellow pages platforms to yellow pages publishers, newspaper publishers and Internet portals that offer online local directory advertising solutions to national retailers and brick and mortar merchants across a full range of Internet and wireless platforms. Switchboard offers a broad range of functions, content and services including yellow and white pages, What`s Nearby(SM) proximity searching, and interactive maps and driving directions. Visited by nearly 5 million unique users each month, Switchboard.com (www.switchboard.com) is an excellent resource to consumers and a showcase for Switchboard`s superior directory technologies and breadth of product offerings. ePresence (Nasdaq: EPRE - News) owns approximately 51.9% of the outstanding shares of Switchboard. "Switchboard" and "What`s Nearby" are registered service marks and "Switchboard Matrix" is a service mark of Switchboard Incorporated. Other trademarks and service marks used in this release are the property of their respective owners.

Forward-Looking Statements

This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects including, for example, Switchboard`s strategy business model and future financial results; its ability to attain future revenue growth and profitability; and the development of the market for Internet directory services, including the migration of yellow pages from print to on-line. The following factors, among others, could cause actual results to differ materially from those described in the forward- looking statements: the market for Internet directory services may not develop or grow as expected; Switchboard may fail to gain or maintain leadership in that market; the migration of yellow pages from print to on-line may not occur as rapidly as anticipated, or at all; Switchboard`s relationships with its new and existing strategic partners, including AOL, may fail to produce the expected benefits; Switchboard may fail to increase the scope of its merchant and strategic partner networks; new products and services introduced by Switchboard, including Switchboard Matrix, may fail to gain market acceptance; Switchboard may fail to deploy technology advancements as anticipated; Switchboard`s customers may fail to compete effectively in the market for Internet directory services, with or without training, support and new technologies from Switchboard; Switchboard may fail to achieve long-term growth and may fail to achieve improved operating results over the next several quarters; Switchboard may fail to control its expenses to the extent needed to achieve profitability; and Switchboard`s operating results are volatile. For a detailed discussion of these and other cautionary statements, please refer to Switchboard`s filings with the Securities and Exchange Commission, including Switchboard`s Annual Report on Form 10-K filed on March 28, 2003. Switchboard cautions readers to consider carefully the foregoing factors and other such factors. Further, Switchboard`s forward-looking statements speak only as of the date on which such statements are made. Switchboard disclaims any intention or obligation to update any forward- looking statements as a result of developments occurring after the date of this press release.

Switchboard Incorporated
Condensed Consolidated Statements of Operations
(unaudited; in thousands, except per share amounts)
Three Months Ended March 31
2003 2002

Gross revenue $3,341 $4,023
Consideration given to a customer - (1,103)

Net revenue 3,341 2,920

Cost of revenue 707 918

Gross profit 2,634 2,002
Gross profit % 79% 69%

Operating expenses:
Sales and marketing 842 1,427
Research and development 1,114 1,505
General and administrative 804 707
Total operating expenses 2,760 3,639

Operating loss (126) (1,637)

Interest income, net 182 595

Net income (loss) $56 $(1,042)

Net income (loss) per share:
Basic $0.00 $(0.06)
Diluted $0.00 $(0.06)

Shares used in computing net income (loss) per share:
Basic 18,627 18,495
Diluted 19,055 18,495



Switchboard Incorporated
Condensed Consolidated Balance Sheets
(unaudited, in thousands)


March 31, 2003 Dec. 31, 2002

ASSETS
Cash and marketable securities $53,738 $53,863
Trade accounts receivable, net 1,774 1,558
Unbilled receivables 119 160
Other current assets 307 330
Property, equipment and other assets 1,571 1,877
Total assets $57,509 $57,788


LIABILITIES AND STOCKHOLDERS` EQUITY
Current liabilities $4,910 $5,102
Deferred revenue 553 475
Other liabilities 849 1,124
Stockholders` equity 51,197 51,087
Total liabilities and stockholders` equity $57,509 $57,788




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Source: Switchboard Incorporated

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BellSouth(R) RealPages.com(SM) Advertisers Featured on Switchboard`s Internet Yellow Pages
Wednesday June 25, 2:01 pm ET
Agreement Benefits RealPages.com Advertisers and Switchboard Customers

ATLANTA, June 25 /PRNewswire/ -- Online shoppers searching for Southeastern listings on Switchboard.com`s Internet Yellow Pages now see data supplied by RealPages.com(SM), the online Yellow Pages service from BellSouth. Switchboard.com, provided by Switchboard Incorporated (Nasdaq: SWBD - News), is a leading provider of online Yellow Pages solutions with a national audience of more than 5 million unique users per month.
ADVERTISEMENT


Agreements with key players such as Switchboard.com have helped establish RealPages.com as the leading provider of Internet Yellow Pages in the Southeast.

"Customers made over 100 million searches using RealPages.com in 2002 and usage continues to grow," said Charles Stubbs, president of Intelligent Media Ventures, LLC, the BellSouth Advertising & Publishing Corp. subsidiary that operates RealPages.com.

"Internet Yellow Pages is a very strategic product for BellSouth Advertising & Publishing," said Stubbs. "Our print directories, The Real Yellow Pages® from BellSouth, continue to be a cost-effective way for advertisers to reach their buyers. Now advertisers can integrate Internet options that complement and enhance their print advertising. And, with the Switchboard agreement, their message can reach a much larger audience."

When Switchboard users search for listings throughout the nine-state BellSouth region, they see featured advertisers from RealPages.com. The results include the RealPages.com logo. Switchboard`s performance in the first few months of the deal has exceeded expectations, delivering millions of search results pages featuring BellSouth advertisers. This combination of Switchboard`s distribution channel and RealPages.com content benefits both companies, as well as advertisers and online Yellow Pages users.

BellSouth is the first regional Bell company to provide Switchboard with featured advertiser listings. The featured listings will display links to web sites and e-mail addresses, as well as other advertiser products. The listings may also include business information such as hours of operation, services provided and brands carried.

About BellSouth Corporation

BellSouth Corporation is a Fortune 100 communications services company headquartered in Atlanta, Georgia, serving more than 44 million customers in the United States and 14 other countries.

Consistently recognized for customer satisfaction, BellSouth provides a full array of broadband data solutions to large, medium and small businesses. In the residential market, BellSouth offers DSL high-speed Internet access, advanced voice features and other services. BellSouth also offers long distance service throughout its markets, serving both business and residential customers. The company`s BellSouth Answers(SM) package combines local and long distance service with an array of calling features; wireless data, voice and e-mail services; and high-speed DSL or dial-up Internet service. BellSouth also provides online and directory advertising services through BellSouth® RealPages.com(SM) and The Real Yellow Pages®.

BellSouth owns 40 percent of Cingular Wireless, the nation`s second largest wireless company, which provides innovative data and voice services.

For more information contact:
David Rogers, BellSouth 678-406-2457
[e-mail]



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Source: BellSouth Corporation

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Google and Switchboard Introduce Content-Targeted Advertising on Yellow Pages
Friday July 18, 8:45 am ET
Switchboard To Integrate Relevant Content-Targeted Advertising Into Local Search With Google AdSense


WESTBORO, Mass., July 18 /PRNewswire-FirstCall/ -- Switchboard Incorporated (Nasdaq: SWBD - News), a leading provider of directory technology and online yellow pages solutions, today announced an agreement with Google, developer of the largest performance-based search advertising program, that integrates content-targeted advertisements through the Google AdSense program into the Switchboard Yellow Pages. As one of the pioneers of local search, Switchboard provides a highly optimized platform for integrating content- targeted advertising with local content. In addition, Switchboard will share in the revenue generated when their users click on Google advertisements.
Using Switchboard`s enhanced merchant information -- rich data about a businesses` product and service offerings -- Google will serve relevant content-targeted advertisements on yellow pages results and a variety of other pages throughout the popular online directory. The alliance will provide Google`s advertisers with broad exposure to Switchboard`s more than 5 million unique online users executing local searches each month.

"Content-targeted advertising has been typically targeted at editorial and informational content. With Google AdSense, we are moving content-targeted advertising to a new level of performance and relevance, because Switchboard`s users are ready-to-buy," said Dean Polnerow, president and founder of Switchboard Incorporated. "Our extensive local merchant content and the local orientation of our users` searches provides Google with a unique opportunity to target content-targeted advertising on our local business search results pages."

"Switchboard`s extensive local content enables Google`s advertisers to reach a very targeted audience through relevant yellow pages results," said Omid Kordestani, senior vice president of Worldwide Sales and Field Operations for Google. "By adding Switchboard to our growing network of AdSense website publishers, we continue to validate the effectiveness and importance of content-targeted advertising as a medium to reach qualified customers."

Google`s global search services provide websites and portals with access to billions of web pages and the world`s most advanced search technology. Additionally, Google partner sites earn revenue by serving targeted search advertisements on content and search result pages from Google`s worldwide network of more than 100,000 advertisers. Google`s advertisers gain broad exposure across Google`s partner websites, including many of the largest websites in the world such as AOL, Ask Jeeves, Earthlink and now Switchboard.

About Switchboard Incorporated

Headquartered in Westborough, Mass., Switchboard Incorporated is a leading provider of Web-hosted directory technologies and customized yellow pages platforms to yellow pages publishers, newspaper publishers and Internet portals that offer online local directory advertising solutions to national retailers and brick and mortar merchants across a full range of Internet and wireless platforms. Switchboard offers a broad range of functions, content and services including yellow and white pages, What`s Nearby(SM) proximity searching, and interactive maps and driving directions. Visited by more than 5 million unique users each month, Switchboard.com (www.switchboard.com) is an excellent resource to consumers and a showcase for Switchboard`s superior directory technologies and breadth of product offerings. ePresence (Nasdaq: EPRE - News) owns approximately 51.9% of the outstanding shares of Switchboard. "Switchboard" and "What`s Nearby" are registered service marks and "Switchboard Matrix" is a service mark of Switchboard Incorporated. Other trademarks and service marks used in this release are the property of their respective owners.

Forward-Looking Statements

This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects including, for example, the economic value and utility of the products and services offered by Switchboard to Switchboard`s alliance partners and customers. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: Switchboard`s alliance with Google may fail to evolve as hoped, or may fail to produce the expected benefits. For a detailed discussion of these and other cautionary statements, please refer to Switchboard`s filings with the Securities and Exchange Commission, including Switchboard`s Annual Report on Form 10-K filed on March 28, 2003 and most recent Quarterly Report on Form 10-Q filed on May 15, 2003. Switchboard cautions readers to consider carefully the foregoing factors and other such factors. Further, Switchboard`s forward-looking statements speak only as of the date on which such statements are made. Switchboard disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. SOURCE Switchboard Incorporated.

Contact:
Switchboard
Elaine Haney
[phone]
[e-mail]




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Source: Switchboard Incorporated

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Switchboard Reports Second Quarter 2003 Financial Results
Tuesday July 29, 4:17 pm ET
Continues to Report Improved Operating Results


WESTBOROUGH, Mass., July 29 /PRNewswire-FirstCall/ -- Switchboard Incorporated (Nasdaq: SWBD - News), a leading provider of directory technology and online yellow pages solutions, today announced its financial results for its second quarter ended June 30, 2003.
ADVERTISEMENT


For the second quarter of 2003, net revenue was approximately $4.0 million, an increase of 92 percent compared with approximately $2.1 million in the second quarter of 2002, which included $946,000 of amortization of consideration provided to AOL. Net revenue for the second quarter improved 19 percent compared with $3.3 million in the first quarter of 2003. Net revenue for the first and second quarters of 2003 did not include any amortization of consideration provided to AOL.

Switchboard reported net income for the second quarter of approximately $527,000, or $0.03 per share, compared to a net loss of $1.4 million, or $0.07 per share, in the second quarter of 2002. Net income for the second quarter improved from $56,000, or break-even per share, reported in the first quarter of 2003.

Switchboard reported approximately $50.3 million in cash and marketable securities at the end of the second quarter of 2003, as compared with $53.7 million at the end of the first quarter of 2003. In the second quarter, Switchboard expended $1.7 million related to the settlement of its lawsuit with the former owners of Envenue, which had been previously accrued. Additionally, Switchboard paid off early its obligations under an equipment financing agreement totaling approximately $1.8 million during the second quarter. At the end of the second quarter, Switchboard had no outstanding debt.

"I am pleased with the financial results we have achieved during the second quarter," said Douglas J. Greenlaw, CEO of Switchboard. "The local advertising market is beginning to show signs of improvement and the continued progress made by our partners using the Switchboard platform to capture this market opportunity has resulted in revenue growth and improved profitability for Switchboard. Revenue growth was primarily supported by our partnership with AOL as well as the effects of the first full quarter of our partnership with BellSouth. We are optimistic that our business will continue to experience incremental growth as the economic environment improves and merchants utilize local advertising as a means to reach new customers."

Financial Outlook

For the third quarter of fiscal 2003, the Company anticipates revenue to be in the range of $3.8 million to $4.2 million. Net income for the period is expected to be in the range of $400,000, or $0.02 per share, to $800,000, or $0.04 per share. Total cash and marketable securities on hand at the end of the third quarter is expected to be in the range of $50.8 million to $51.2 million.

Conference Call Information

Switchboard will hold a conference call on Wednesday, July 30, 2003 at 8:30 a.m. EDT to discuss its second quarter 2003 results. To join the call, please dial 1-800-930-1344 in the U.S. and 1-312-461-0285 outside of the U.S., pass code 5767131. There will be a live web cast available on the Switchboard investor relations web site at www.switchboard.com under "About Switchboard- Investor". A replay of the call will be available two hours after the live call through Wednesday, August 6, 2003. To access the replay, please visit www.switchboard.com under "About Switchboard-Investor" or dial 1-888-203-1112 in the U.S. and 1-719-457-0820 outside of the U.S. and enter pass code 594821.

About Switchboard Incorporated

Switchboard Incorporated is a leading provider of directory technology and Internet-based yellow pages. A pioneer of locally oriented, business searching, Switchboard delivers highly-targeted, online advertising solutions to national retailers and brick and mortar merchants on its flagship web site, Switchboard.com, and the sites of its many directory affiliates. Switchboard`s technology connects over 8.5 million unique, ready-to-buy consumers each month with the local businesses that have what they need, driving local commerce through online innovation. Switchboard is headquartered in Westborough, MA. For more information, visit www.switchboard.com. ePresence (Nasdaq: EPRE - News) owns approximately 51.9% of the outstanding shares of Switchboard.

Forward-Looking Statements

This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects including, for example, Switchboard`s strategy, business model and future financial results; its ability to attain future revenue growth and profitability; and the development of the market for Internet directory services, including the migration of yellow pages from print to on-line. The following factors, among others, could cause actual results to differ materially from those described in the forward- looking statements: the market for Internet directory services may not develop or grow as expected; Switchboard may fail to gain or maintain leadership in that market; the migration of yellow pages from print to on-line may not occur as rapidly as anticipated, or at all; Switchboard`s relationships with its new and existing strategic partners, including AOL, may fail to produce the expected benefits; Switchboard may fail to increase the scope of its merchant and strategic partner networks; new products and services introduced by Switchboard, including Switchboard Matrix, may fail to gain market acceptance; Switchboard may fail to deploy technology advancements as anticipated; Switchboard`s customers may fail to compete effectively in the market for Internet directory services, with or without training, support and new technologies from Switchboard; Switchboard may fail to achieve long-term growth and may fail to achieve improved operating results over the next several quarters; Switchboard may fail to control its expenses to the extent needed to achieve profitability; and Switchboard`s operating results are volatile. For a detailed discussion of these and other cautionary statements, please refer to Switchboard`s filings with the Securities and Exchange Commission, including Switchboard`s Annual Report on Form 10-K filed on March 28, 2003 and most recent Quarterly Report on Form 10-Q filed on May 15, 2003. Switchboard cautions readers to consider carefully the foregoing factors and other such factors. Further, Switchboard`s forward-looking statements speak only as of the date on which such statements are made. Switchboard disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. SOURCE Switchboard Incorporated.

Switchboard Incorporated
Condensed Consolidated Statements of Operations
(unaudited; in thousands, except per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
2003 2002 2003 2002

Gross revenue $3,974 $3,014 $7,315 $7,037
Consideration given
to a customer -- (946) -- (2,049)
Net revenue 3,974 2,068 7,315 4,988

Cost of revenue 814 1,112 1,521 2,030

Gross profit 3,160 956 5,794 2,958
Gross profit % 80% 46% 79% 59%

Operating expenses:
Sales and marketing 685 1,145 1,527 2,572
Research and
development 1,121 1,317 2,235 2,822
General and
administrative 1,022 723 1,826 1,430
Revision of
restructuring estimate (35) -- (35) --
Total operating
expenses 2,793 3,185 5,553 6,824

Operating income (loss) 367 (2,229) 241 (3,866)

Interest income, net 172 874 354 1,469

Income (loss) before taxes 539 (1,355) 595 (2,397)

Provision for income taxes 12 -- 12 --

Net income (loss) $527 $(1,355) $583 $(2,397)

Net income (loss) per share:
Basic $0.03 $(0.07) $0.03 $(0.13)
Diluted $0.03 $(0.07) $0.03 $(0.13)

Shares used in computing
net income (loss) per share:
Basic 18,658 18,499 18,643 18,497
Diluted 19,296 18,499 19,191 18,497


Switchboard Incorporated
Condensed Consolidated Balance Sheets
(unaudited, in thousands)


June 30, December 31,
2003 2002

ASSETS
Cash and marketable securities $50,323 $53,863
Trade accounts receivable, net 2,125 1,558
Unbilled receivables 133 160
Other current assets 850 330
Property, equipment and other assets 1,297 1,877
Total assets $54,728 $57,788


LIABILITIES AND STOCKHOLDERS` EQUITY
Current liabilities $2,437 $5,102
Deferred revenue 533 475
Other liabilities - 1,124
Stockholders` equity 51,758 51,087
Total liabilities and stockholders` equity $54,728 $57,788

Contact Information:
Bob Orlando, Chief Financial Officer Bob Joyce
Switchboard Incorporated FitzGerald Communications
508-898-8131 617-585-2298




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Source: Switchboard Incorporated

[panik]

10:32AM New High Profile -- Switchboard.com (SWBD) 7.09 +0.35: An intriguing name making a new 52-week high today is SWBD, a provider of Web hosted directory technologies and yellow pages. The move today appears to be fueled by a report that T-Online, one of Europe`s largest ISPs, has reportedly dropped Overture for Google (see InPlay 8:33 ET comment). In July, SWBD announced a deal linking itself with Google. In a recent Momentum Radar, we highlighted SWBD at $5.23 as a play on Google, which is privately held.... ePresence (EPRE 3.80 -0.02) owns approximately 51.9% of the outstanding shares of Switchboard.

[panik]

Clicks under the radar
Commentary: Switchboard is in the online-ad sweet spot

By Bambi Francisco, CBS.MarketWatch.com
Last Update: 12:01 AM ET Aug. 26, 2003







SAN FRANCISCO (CBS.MW) -- Even after the mega gains across the board for Internet stocks, especially the magnificent foursome - Yahoo, EBay, Amazon.com and InterActiveCorp -- there are still companies that are worth taking a look at.



Here`s one that`s relatively under the radar but definitely in the sweet spot of online advertising -- local advertising. It`s called Switchboard (SWBD: news, chart, profile), which was mentioned in Net Stocks on Monday when the stock traded below $8.

Switchboard is essentially an independent publisher of online yellow-page directories with 5.5 million monthly unique visitors, or 9 million, if you add its network of partners. It also ranks among the top five Internet yellow-page sites in major cities across the country, along with Yahoo`s (YHOO: news, chart, profile) yellow pages and Verizon`s (VZ: news, chart, profile) Superpages, according to ComScore.
It buys listings - consumer and business names -- from Acxiom (ACXM: news, chart, profile) and then has various channels, like AOL Time Warner (AOL: news, chart, profile), recently announced Google and BellSouth (BLS: news, chart, profile), that sell fancier advertisements, in which it gets a revenue share.

That`s why this company has gross margins of 80 percent, and it`s profitable. In its third quarter, Switchboard is expected to generate more profit for each dollar in sales because of the revenue-share ad model, according to Switchboard founder Dean Polnerow. What`s more, Switchboard has about $50 million in cash.

Now, for the caveats: Besides having its shares snapped up recently, Switchboard relies heavily on AOL Time Warner, which accounts for 46 percent of the company`s quarterly sales of $4 million. (The media giant licenses Switchboard`s technology to create AOL.com yellow pages. AOL then sells advertising to put on its yellow pages and splits the revenue with Switchboard.) Switchboard`s story is also complicated because Epresence (EPRE: news, chart, profile) is a majority shareholder.

Additionally, if Switchboard were to either build out a sales team or market its own brand to get more traffic, the cash wouldn`t last long.

But the arrangement with AOL expires at the end of 2004. So, Switchboard has time to reap the rewards of more local advertising dollars shifting online, particularly the advertisements that make up the $14 billion annual yellow-page business.

There are survey results that support the trend in small businesses moving their advertising online. And, we`re approaching the holiday season, a time at which local retailers might want to try online advertising.

Seventeen percent of small businesses that advertise are already doing some sort of keyword or search-related advertising in addition to yellow pages, and other traditional forms of advertising, like newspapers, according to Local Commerce Monitor, a Kelsey Group/Constat annual study.

Besides AOL, Switchboard has attracted other big partners.

In the BellSouth arrangement, Switchboard provides the local online audience in the nine-state region of BellSouth, while the regional bell`s sales force can go to its local merchants and give them an online advertising outlet through Switchboard.

The Google relationship is one of the more promising arrangements for Switchboard. It`s only about a month old and is a one-year deal. As part of that deal, Switchboard is the distributor of pages to Google`s advertising network.

Observers say that Switchboard has expertise in understanding a local audience that many other companies desire.

Switchboard`s valuable clicks

"There is value in what they`ve built," said Neal Polachek, who`s been in the yellow-page industry for about 15 years, and most recently as an analyst at The Kelsey Group, which specializes in yellow-page advertising. "What Switchboard has done is to try and understand what users are looking for... It gets very granular."

For instance, if I typed in "florist" and "San Francisco" into Switchboard.com, I`d have options on the left-hand side that would ask me whether I wanted florists that deliver, or florists that sell tropical flowers. If I did the same search on Yahoo yellow pages, I`d have to scroll down the page to find florists in my area and the advertisement (because it`s just a link) wouldn`t be able to show me whether the florist delivers or has tropical flowers.

To this end, the trend towards bringing the pay-for-performance, or cost-per-click, advertising model down to local merchants seeking a local audience could work better on Switchboard because the online yellow-page provider delivers a more qualified lead to the advertiser.

A local florist that doesn`t deliver and only sells gift baskets with flowers might find the cost-per-click model a costly endeavor if it had to pay for a bunch of people that only wanted a florist that delivers and sells tropical flowers.

"Advertising in the yellow pages is so powerful because it pre-qualifies people," said Polacheck. And, that`s what Switchboard is doing, pre-qualifying users.

See recent stories related to the evolving world of online search:

Who wins when national search goes local?
Google`s founder sizes up rivals.
The Yahoo accelerator
EBay vs. Google
Of course, major search engines aren`t sleeping at the wheel.

They want to capture this ready-to-buy customer as well. Sixty-percent of online yellow page users make or intend to make a purchase after referring to Internet yellow pages, according to an industry group called Yellow Pages Integrated Media Association. It does seem logical to me. After all, who peruses those yellow pages for leisure?

And, 10 to 20 percent of the searches are local in nature, according to the Kelsey Group.

Buzzword: Geo-targeting

These search engines and other major Internet companies, like InterActiveCorp (IACI: news, chart, profile) and EBay (EBAY: news, chart, profile), can either expand their advertising base or get more money from their current advertisers if they can finesse the advertisements to be more local, or, "geo-targeted."

That`s one of the buzzwords I learned from last week`s Search Engine Strategies conference. Geo-targeting is a way for national advertisers to finesse their ads for a particular region, or city, or, at some point, a particular neighborhood, like the Upper East Side in Manhattan or the Marina in San Francisco.

Overture is preparing to roll out a geo-targeting advertising test campaign for CompUSA, according to Cheryle Pingel, founder and president of Range Online Media, who spoke on one of the panels at the conference.

As Pingel describes it, when someone types in, say, "Toshiba laptop," in one of the Overture`s (OVER: news, chart, profile) search distribution partners, like Yahoo or Microsoft (MSFT: news, chart, profile) MSN, a pop-up question box will ask: "Are you interested in your area?."

If consumers increasingly go to search engines for local information, the entire local advertising business that`s fed yellow pages and classifieds could be turned on its head.

But if their behavior is very similar to what they do today with those big yellow pages, then Switchboard has a good chance of surviving.

"Switchboard`s relationship with AOL and Google should give them an opportunity to be successful," said Polacheck. "But I`d be surprised if they were an independent company in three years."

You can get free e-mail delivery of Bambi Francisco`s Net Stocks daily and Net Sense weekly. Sign up here for Bambi Francisco`s Net Stocks and Net Sense newsletters at MarketWatch.com. See previous Net Sense: Innovation in the city and The `Real` battle is in legal downloads

Bambi Francisco is Internet editor of CBS.MarketWatch.com, based in San Francisco.

[panik]

Smith Barney`s Baker on Net stocks
Plus: Switchboard continues to buck the trend

By Bambi Francisco, CBS.MarketWatch.com
Last Update: 12:13 PM ET Aug. 27, 2003







SAN FRANCISCO (CBS.MW) -- As summer winds down and the strongest quarter for Internet use and retailing draws near, the question arises: Is the year-end rally game worth playing or are Net stocks just too expensive?

While there has been a pullback in this group, the major Internet stocks are still sitting below 52-week highs while most Net names are still holding onto sizable gains made this year.

Are all the hopes of a holiday-jolly Christmas already baked into these stocks?

Perhaps. But there are still some interesting stocks to be found, like tiny Switchboard (SWBD: news, chart, profile), which has already had a good run this week. Switchboard is up 8 percent to $9.98. Some investors are buying Epresence (EPRE: news, chart, profile), which is a majority shareholder in Switchboard. Given Switchboard`s gains, Epresense has watched its ownership stake in Switchboard balloon to $95 million, at current prices. Epresence, however, has not enjoyed the same gains.

See Net Sense: Switchboard in local-ad sweet spot.

If you stretch your imagination beyond the quarter, some Internet stocks may have more upside to go, according to Lanny Baker, an analyst at Smith Barney, who provides some of the more thought-provoking analysis on the evolution of the Internet and search industry. His top pick is Yahoo (YHOO: news, chart, profile).

Major Net names, like Amazon.com (AMZN: news, chart, profile), EBay (EBAY: news, chart, profile) and InterActiveCorp (IACI: news, chart, profile) are trading lower Wednesday, but Yahoo is trading modestly higher.

"If you take that long-term view, there are pretty good values in the Internet sector," said Baker. But if one were to play the seasonal game, there is opportunity there, as well.

"You can trade the excitement leading into the holidays," he said.

"In the next three to four weeks, wind-down period of the summer lull, start to look to establish trading positions, with a bias towards e-commerce names," said Baker. What`s more, according to Baker, Internet usage turns up in the fourth quarter and advertising numbers look strong for the second half of the year.

Baker stopped by the CBS.MarketWatch offices to talk about what investors should do in the next three to four weeks. Here`s the interview.

Watch my interview with Baker.

Q: What are some under-the-radar names?

A: The mistake that a lot people made in the last cycle is to compromise on quality. They start putting dollars into lesser [known] companies and that`s where the big money gets lost. We`re careful about looking under the radar. But we do it. One is Valueclick (VCLK: news, chart, profile), which is kind of a value version of DoubleClick (DCLK: news, chart, profile). It offers lower prices in ad serving. Valueclick doesn`t have all the bells and whistles that DoubleClick does. But it is priced at a 40 to 50 percent discount to DoubleClick. As a result they`ve gained 5 to 10 percent market share. Valueclick is an often overlooked company with great management and very shareholder focus. The company bought 25 percent of its stock last year when stock was at cash levels. Looking down the spectrum, Valueclick would be a top pick.

Q: What are stocks that investors are paying too much attention to?

Baker: DoubleClick is sort of the horseman on the play of Internet advertising: The leveraged recovery candidate. But its primary clients are losing viewer-traffic market share. Others [Internet publishers] that are gaining market share are taking the DoubleClick functionality in-house. DoubleClick doesn`t have as much leverage in the up-cycle as investors may hope.

Q: You made an early call on CNet. Do you still like it here?

Baker: About six weeks ago, we looked at estimates on Wall Street on CNet (CNET: news, chart, profile). Wall Street had projected 10-percent sales growth. We kicked the tires. We saw that advertising from Microsoft (MSFT: news, chart, profile), Dell (DELL: news, chart, profile), Hewlett-Packard (HPQ: news, chart, profile), and Apple Computer (AAPL: news, chart, profile) [big technology advertisers] are growing their dollars. H-P is coming out with 120 different consumer products. We looked at Wi-Fi and video games. There are hot-growth pockets, like the IPod. CNet is positioning itself in consumer electronics. This sets them up to get the usage level to attract advertisers. It`s pretty unlikely in a $6-billion technology advertising market that if things get better that CNet grows only 10 percent.

Q: Top pick?

Baker: Yahoo -- top pick right now. I`m a fan of finding companies right in the midst of change. EBay is a great company. Not a lot of change going on at EBay. Yahoo has a lot more going on, which leads to a greater likelihood that the stock is being mispriced. Yahoo also owns a position in Yahoo Japan that`s worth $8.50 per Yahoo share. Twenty-five percent of Yahoo is Yahoo Japan, and then you`ve got $2.50 of cash and tax credits -- that accounts for 40 percent of Yahoo`s value. Yahoo recognizes [search] as a growing opportunity. You`ll see something in Yahoo that`s differentiated from Overture`s (OVER: news, chart, profile) [which is being acquired by Yahoo] other affiliate partners. Search will get a lot more competitive. Yahoo [will be] a source of incremental competition rather than an incumbent with a lot at risk.

(On a side note: Overture confirmed that it`s launching, as early as Wednesday, a test with CompUSA for geo-targeted advertisements through search requests.)

Q: What`s your estimate on the market valuation on Google? And, when it goes public, will it be a good day or bad day for Internet stocks?

Baker: On valuation, it`s hard to say. You can look at Yahoo, which paid $1.7 billion for Overture. Google owns a Web site with 40 percent market share. We did a study that showed that a point of market share might be worth a couple-hundred million of market cap. Now on whether it will be a great day or not-so-great day. I`m torn. It`ll provide more investment alternatives, and it will have a successful introduction. On the other hand, VC`s [venture capitalists] make the move to sell, there may be some in the market that say, `This is what we`ve been waiting for. Now, we`ve got Internet stocks at levels to sell.` [It] tells you something ... Capped valuations. I think in the short run it`s a positive. In the intermediate term, it`s a little of a dampening effect.

Q: Google vs. EBay?

Baker: On one hand, there is an element of EBay that`s anti-search. You hunt for that antique, or hard-to-find collectible. You want to meander through the aisles. But in corporate purchasing, small-business purchasing, there is no time to fiddle around. There should be a better overlay of search on EBay to find stuff. Maybe there is a greater role for search within EBay. But the growth in search doesn`t take away the transactions, the trust, the ratings, the history and the familiarity within EBay. I`m not convinced that [search] supplants EBay.

Receive this column via e-mail. Sign up for Bambi Francisco`s Net Stocks at CBS.MarketWatch.com. You can also subscribe to Bambi Francisco`s Net Sense, a weekly commentary. See the latest column: Who wins when search goes local? and Innovation in the city.

Bambi Francisco is Internet editor of CBS.MarketWatch.com, based in San Francisco.

[antec]

und ich bin nicht dabei

[panik]

Switchboard Amends Directory Platform Agreement with America Online
Thursday October 16, 8:35 am ET
Companies Extend Term and Agree to Combined Online Yellow Pages Offerings


WESTBOROUGH, Mass., Oct. 16 /PRNewswire-FirstCall/ -- Switchboard Incorporated (Nasdaq: SWBD - News), a leading provider of local online advertising solutions and Internet-based yellow pages, announced today that it has further amended its Directory and Local Advertising Platform Services Agreement of December 2000 with America Online, Inc., under which Switchboard powers yellow pages directories for several AOL properties. The new amendment creates new sales opportunities for both companies, extends the alliance between the two companies for an additional year, until December 2005, and changes the financial structure of the relationship.
ADVERTISEMENT


Under the amendment, AOL and Switchboard plan to sell advertising products offering national advertisers and local merchants access to the combined distribution, or consumer audience, of both the AOL and Switchboard yellow pages. These advertising products can be sold through the various mutually agreed upon sales channels of both companies, including direct sales, channel partners, telemarketing and self-service. The advertising products will include Switchboard`s recently announced LocalClicks(SM) performance-based advertising product.

Beginning October 1, 2003, AOL will pay Switchboard $4.8 million annually, in monthly installments, for a variety of initiatives, including the provision, maintenance and customization of the AOL yellow pages directory platform. Although the amendment eliminates revenue sharing to Switchboard on AOL advertising sold solely into the AOL Yellow Pages, both companies will share in resulting revenues associated with the sale of the combined products.

"Our new deal structure with AOL opens exciting new revenue opportunities by combining our audiences and utilizing our respective sales channels for the purpose of selling Switchboard`s latest advertising products, like LocalClicks, to the online local advertising market," said Dean Polnerow, President and Chief Executive Officer of Switchboard.

"The new deal structure also brings an improved level of long term predictability and stability to our relationship, allowing us to better plan, manage, and balance our resources and management attention for the benefit of all aspects of our business," said Bob Orlando, Chief Financial Officer of Switchboard Incorporated. "As a result of the changes in the financial structure of the agreement, we anticipate that the revenue from our relationship with AOL in the fourth quarter will be lower than what we expect to realize in AOL revenue in our just completed third quarter. Although we expect this decrease will be offset, in part, by revenue increases in other areas of our business, we believe that overall revenue for the fourth quarter will likely be less than that of our third quarter. We anticipate that overall revenue for the third quarter will be in line with previously announced expectations."

Switchboard will provide additional fourth quarter guidance at its third quarter conference call scheduled for Wednesday, October 22, 2003 at 8:30AM EST. The call will be available via Webcast at www.switchboard.com under "About Switchboard-Investor." The conference call will also be available via telephone at 800-946-0719 in the U.S. and 719-457-2645 outside of the U.S., pass code 195502.

Further details regarding the amended agreement are contained in Switchboard`s Current Report on Form 8-K filed with the SEC today.

About Switchboard Incorporated

Switchboard is a leading provider of local online advertising solutions for merchants and national advertisers, enabled by our innovative, consumer- oriented, online yellow and white pages directory technology. A pioneer of locally-oriented business searching, Switchboard.com and the sites of its many directory affiliates connect over 9 million unique, ready-to-buy consumers each month with the businesses that have what they need, driving local commerce through online innovation. Switchboard is headquartered in Westborough, MA. For more information, visit www.switchboard.com. ePresence (Nasdaq: EPRE - News) owns approximately 51.4% of the outstanding shares of Switchboard.

This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects including, for example, Switchboard`s relationship with AOL and the future of AOL`s online yellow pages directory business. The following factors, among others, could cause actual results to differ materially from those described in these forward- looking statements: Switchboard`s alliance with America Online, Inc. may fail to produce the expected benefit; and AOL`s on-line yellow pages directory business may fail to develop as anticipated. For a detailed discussion of these and other cautionary statements, please refer to Switchboard`s filings with the Securities and Exchange Commission, including Switchboard`s Annual Report on Form 10-K filed on March 28, 2003 and most recent Quarterly Report on Form 10-Q filed on August 8, 2003. Switchboard cautions readers to consider carefully the foregoing factors and other such factors. Further, Switchboard`s forward-looking statements speak only as of the date on which such statements are made. Switchboard disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. SOURCE Switchboard Incorporated.

Contacts
Elaine Haney Bob Joyce
Switchboard, Inc. FitzGerald Communications
[phone] [phone]
[e-mail] [e-mail]




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Source: Switchboard Incorporated

[antec]

...überlege einzusteigen...

[panik]

9:35AM Momentum Radar -- Switchboard (SWBD) 6.35 -0.05: Momentum traders have dominated the action over the past few sessions, running up small cap names with small floats, especially Internet-related stocks. A stock that looks poised for a breakout is Switchboard.com. The co is a provider of a broad range of functions, including yellow and white pages, location based searching, and interactive maps and driving directions.... The stock saw strong volume into the close yesterday, posting a 12% gain on its highest volume day since last September. The stock did not move much earlier in the week when other Internet stocks were moving, but now that many others have moved, traders are making their way to names like SWBD. Also, keep in mind that ePresence (EPRE 3.34) owns 51.1% of Switchboard.

[panik]

InfoSpace to Acquire Switchboard Incorporated
Friday March 26, 7:15 am ET
Establishes InfoSpace as the Leading Online Yellow Pages Provider


BELLEVUE, Wash. & WESTBOROUGH, Mass.--(BUSINESS WIRE)--March 26, 2004--InfoSpace, Inc. (Nasdaq:INSP - News) and Switchboard Incorporated (Nasdaq:SWBD - News) today announced a definitive agreement for InfoSpace to acquire Switchboard, a leading provider of local online advertising solutions and internet-based yellow pages, for $7.75 per share or approximately $160 million in cash.
ADVERTISEMENT


As of December 31, 2003, Switchboard had approximately $55.9 million in cash and marketable securities and no debt.

The acquisition significantly increases the Company`s online directory traffic and establishes InfoSpace as the leading online directory provider in the United States. According to comScore/MediaMetrix, InfoSpace and Switchboard`s combined network of owned and operated sites and distribution partners comprises approximately 23% of total online yellow pages searches.

"We are excited to take a defining step in the growing local search and directory opportunity," said Jim Voelker, chairman and chief executive officer of InfoSpace, Inc. "Through this acquisition, we nearly double our share of online directory traffic, gain a proven technology platform and add several new and important partner relationships. Combined, we assume a leadership role in a market growing as fast as web search, and position ourselves to leverage our complementary assets in web search and online directory."

"We believe that by combining the respective strengths of our two companies, we can accelerate the migration and adoption of online local advertising," said Dean Polnerow, president and chief executive officer of Switchboard Incorporated. "Today`s announcement is a leap forward for the industry, and for those of us who share the vision that online yellow pages is on the fast track to playing a central role in helping local advertisers reach consumers."

Yellow pages directories are a primary source of local merchant information for consumers. According to The Kelsey Group, the yellow pages industry generates nearly $15 billion in annual advertising sales in the United States, and is experiencing a migration from print-based consumer searches to online searches. In 2003, the online directory market was approximately $450 million, and is growing rapidly. According to the June 2003 Kelsey Group report titled "Searching for Profits: Yellow Pages and the Challenge of Pay-per-Click," The Kelsey Group projects the number of online yellow pages searches to grow 25% annually and to account for more than 30% of total yellow pages searches by 2006.

Switchboard is a leading provider of local online advertising products for merchants, national advertisers and distribution partners, enabled by innovative, consumer-oriented, online yellow and white pages directory technology. Switchboard`s technology benefits both consumers and merchants by combining the depth of information found in printed directories with the interactive, real-time nature of the Web. In addition to generating traffic directly through www.switchboard.com, Switchboard licenses its products to Internet portals, traditional yellow pages publishers, and newspaper publishers to enable them to offer local online advertising solutions and yellow and white pages directories under their own brands.

The transaction is expected to close in the second half of 2004, subject to certain conditions including approval by Switchboard shareholders, the shareholders of Switchboard`s majority shareholder, ePresence, Inc., and regulatory authorities.

Assuming the Switchboard acquisition closes on or near July 1, 2004, InfoSpace anticipates Switchboard will contribute approximately $10 - $12 million in revenue and $4 - $5 million in Search & Directory segment income for the second half of 2004.

Conference Call Details

InfoSpace will host a conference call at 8:30 am Eastern time today, March 26th, 2004. To access the call, please dial 800.967.7141 in the United States and 719.457.2630 internationally. The conference call will be webcast live in the Investor Relations sections of both the InfoSpace corporate Web site, at www.infospaceinc.com, and Switchboard.com. A replay of the call will be available approximately one hour after the call until Sunday, April 11th at 10:30 p.m. Pacific time.

All information in this release is as of March 26th, 2004. InfoSpace undertakes no duty to update any forward-looking statements to actual results or changes in the Company`s expectations.

About InfoSpace, Inc.

InfoSpace, Inc. (Nasdaq:INSP - News) is a diversified technology and services company that develops Internet and wireless solutions for a wide range of customers. InfoSpace Search & Directory provides Web search and online directory products that help users find the information they need while creating opportunities for merchants. InfoSpace Mobile develops infrastructure, tools and applications that enable carriers and content providers to efficiently develop and deliver mobile data services across multiple devices. InfoSpace Payment Solutions enables merchants to authorize, settle and manage electronic transactions via its IP-based payment gateway, Authorize.Net. More information can be found at http://www.infospaceinc.com.

About Switchboard Incorporated

Switchboard (Nasdaq:SWBD - News) is a leading provider of local online advertising products for merchants and national advertisers, enabled by innovative, consumer-oriented, online yellow and white pages directory technology. Through Switchboard`s local search, advertisers are able to get their message in front of consumers at the time they are looking for that merchant`s products or services on the Internet, driving local commerce through online innovation. Switchboard is headquartered in Westborough, MA. ePresence (Nasdaq:EPRE - News) owns approximately 51.0% of the outstanding shares of Switchboard. More information can be found at http://www.switchboard.com.

This release contains forward-looking statements regarding the Company`s search and directory business and its proposed acquisition of Switchboard Incorporated. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect InfoSpace`s actual results include the possibility that the acquisition will not be completed or that the completion may be delayed, InfoSpace`s ability to integrate the proposed acquisition of Switchboard Incorporated, the future performance of Switchboard Incorporated and the rate of adoption of online directory services. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in InfoSpace`s most recent Annual Report on Form 10-K, in the section entitled "Factors Affecting Our Operating Results, Business Prospects and Market Price of Stock." Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. InfoSpace undertakes no obligation to update publicly any forward- looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. For more information and additional risk factors regarding Switchboard generally, see Switchboard`s Form S-1/A filed with the Securities and Exchange Commission on February 13, 2004, including the section entitled "Risk Factors", and other documents filed by Switchboard with the Securities and Exchange Commission.

Additional Information

Switchboard Incorporated ("Switchboard") intends to file a proxy statement in connection with the proposed acquisition of Switchboard by InfoSpace. Investors and security holders are urged to read these filings when they become available because they will contain important information about the proposed acquisition. Investors and security holders may obtain free copies of these documents (when they are available) and other documents filed with the Securities and Exchange Commission at the Securities and Exchange Commission`s web site at www.sec.gov. Investors and security holders may obtain free copies of the documents filed by Switchboard with the Securities and Exchange Commission by contacting Switchboard Investor Relations at 120 Flanders Road, Westboro, Massachusetts 01581, [phone]. In addition, investors and security holders may read and copy any reports, statements and other information filed by Switchboard at the SEC public reference room at 450 Fifth Street, N.W., Washington, D.C. 20549. Please call the SEC at (800) SEC-0330 for further information on the public reference room.

Switchboard and InfoSpace and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Switchboard and ePresence in connection with the proposed acquisition. Certain officers and directors of Switchboard have interests in the proposed acquisition, including their ownership of Switchboard common stock, and their interests will be described in the proxy statement of Switchboard when it becomes available.

Additional information regarding the directors and executive officers of Switchboard is included in Switchboard`s proxy statement for its 2003 Annual Meeting of Stockholders, which was filed with the Securities and Exchange Commission on March 28, 2003. This document is available free of charge by contacting Switchboard Investor Relations at [phone]. Additional information regarding the directors and executive officers of InfoSpace is included in InfoSpace`s proxy statement for its 2003 Annual Meeting of Stockholders, which was filed with the Securities and Exchange Commission on April 21, 2003, and the supplement to its proxy statement, which was filed with the Securities and Exchange Commission on May 5, 2003. These documents are available free of charge by contacting InfoSpace Investor Relations at [phone]. All of the documents filed by Switchboard and InfoSpace with the SEC are available free of charge at the Securities and Exchange Commission`s web site at www.sec.gov.



--------------------------------------------------------------------------------
Contact:
InfoSpace
Nancy Bacchieri, 425-201-8722
[e-mail]
or
Adam Whinston, 425-201-8946
[e-mail]
or
Switchboard
Elaine Haney, 508-898-8146
[e-mail]



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Source: InfoSpace, Inc.