Heads-up...NEWZ 3rd straight quarter profit
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NewsEdge Reports Q4 2000 Profit -- Third Straight Quarter of Sequential Operating Improvement Driven by Success of Content Solutions Business
Business Editors
NOTE: NEWZ management will conduct a conference call today at 11:00 a.m. (Eastern) to discuss the Company's Q4 2000/Year-end financial results. The dial-in number is 888/817-2206. The call will also be Webcast live at www.newsedge.com and www.streetevents.com
BURLINGTON, Mass.--(BUSINESS WIRE)--Feb. 1, 2001--NewsEdge Corporation (Nasdaq:NEWZ - news), a global provider of syndicated content services and electronic publishing technologies for business, today reported revenues of $18.0 million and a $139,000 net profit for the quarter ended December 31, 2000, compared to revenue of $18.7 million and a $7.5 million net loss in the year-ago quarter. Earnings per share were $0.01, compared to a per share loss of $0.43 in the 1999 fourth quarter.
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``Being able to deliver three consecutive quarters of revenue, operating income, and EPS growth without depleting our $19 million cash reserves or adding any debt to our balance sheet is very gratifying, and speaks strongly to the success of our Content Solutions strategy introduced earlier this year,'' said NewsEdge Chief Financial Officer Ron Benanto. ``Another key was our ability to improve margins, cut operating expenses and enhance operating efficiencies throughout the year, without impacting our development of a major new business.''
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