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Technology Stocks : (JWEB)----IPO -- Ignore unavailable to you. Want to Upgrade?

To: rdmsqito who wrote (217)7/28/1999 10:34:00 PM
From: rdmsqito  Read Replies (1) | Respond to of 510
(in thousands, except per share data)

Three Months Six Months
Ended June 30, Ended June 30,
1999 1998 1999 1998

Billable services $7,069 $709 $12,875 $1,174
Advertising and
transaction fees 2,703 1,540 4,968 2,768
Direct product sales 1,350 2,035 2,999 4,612

Total revenues 11,122 4,284 20,842 8,554

Cost of revenues:
Billable services 5,481 580 10,159 967
Advertising and
transaction fees 1,162 875 2,242 1,700
Direct product sales 1,165 1,709 2,589 4,135

Total cost of
revenues 7,808 3,164 14,990 6,802

Operating expenses:
Operations, free
service 1,771 2,356 3,617 5,180
Sales and marketing 2,716 2,884 5,028 7,154
Product development 1,977 1,630 3,831 3,465
General and
administrative 982 676 1,686 1,590

Loss from operations
before subscriber
acquisition costs (4,132) (6,426) (8,310) (15,637)
Subscriber acquisition
costs 13,920 427 16,620 1,880
Loss from operations (18,052) (6,853) (24,930) (17,517)
Interest income, net 795 (14) 906 60

Net loss $(17,257) $(6,867) $(24,024) $(17,457)

Pro forma loss per
share from operations
before subscriber
acquisition costs $(0.14) $(0.32)

Pro forma net
loss per share $(0.56) $(0.93)

Weighted average shares
outstanding used in
pro forma per
share calculation 30,601 25,939

(in thousands, except share data)

June 30, 1999 December 31, 1998
Current assets:
Cash and cash equivalents $111,383 $8,152
Accounts receivable, net of allowance for
doubtful accounts of $421 and $296 in
1999 and 1998, respectively 3,411 2,115
Merchandise inventories, net 24 60
Prepaid expenses and other current assets 11,370 108

Total current assets 126,188 10,435

Fixed assets, net 4,027 4,086
Other assets 111 182

Total assets $130,326 $14,703

Liabilities and partners' capital
(deficiency)/stockholders' equity
Current liabilities:
Accounts payable and accrued expenses $15,604 $11,166
Current portion of capital lease
obligations 735 450
Current portion of senior note -- 1,560
Deferred revenue 8,973 5,602

Total current liabilities 25,312 18,778

Capital lease obligations 825 609
Senior note -- 7,569
Deferred rent 296 335
Deferred revenue 1,000 --

Commitments and contingencies

Partners' capital (deficiency) (12,588)
Stockholders' equity (deficit):
Preferred stock -- $.01 par value; 5,000,000
authorized, none issued and outstanding
Common stock -- $.01 par value; 133,333,334
authorized, 34,629,709 issued
and outstanding 346
Additional paid-in capital 123,265
Unearned compensation (1,043)
Cumulative translation adjustment (1)
Accumulated deficit (19,674)

Total shareholders' equity 102,893

Total liabilities and partners' capital
(deficiency)/stockholders' equity $130,326 $14,703

(in thousands)

Six Months Ended
June 30,
1999 1998

Cash flows from operating activities:
Net loss $(24,024) $(17,457)
Adjustments to reconcile net
loss to net cash
used in operating activities:
Depreciation and amortization 1,159 1,164
Amortization of deferred rent (39) 184
Amortization of unearned compensation 210 --
Changes in operating assets and
Accounts receivable (1,296) (836)
Merchandise inventories 36 647
Prepaid expenses and other current assets (11,262) 315
Accounts payable and accrued expenses 4,437 (1,957)
Deferred revenue 4,371 3,549

Net cash used in operating activities (26,408) (14,391)

Cash flows from investing activities:
Purchases of fixed assets (229) (1,488)
Proceeds from sale of fixed assets -- 287
Other assets 71 2

Net cash used in investing activities (158) (1,199)

Cash flows from financing activities:
Payments on capital lease obligations (370) (239)
Proceeds from senior note -- 10,000
Payments on senior note (9,129) --
Net proceeds from issuance of redeemable
convertible preferred stock 61,859 --
Capital contributions -- 8,500
Proceeds from issuance of common stock
upon completion of IPO 77,285 --
Proceeds from issuance of common stock
upon exercise of stock options 152 --

Net cash provided by financing
activities 129,797 18,261

Net increase (decrease) in cash and
cash equivalents 103,231 2,671

Cash and cash equivalents,
beginning of period 8,152 13,770

Cash and cash equivalents, end of period $111,383 $16,441

Supplemental disclosure of
cash flow information:
Cash paid for interest $293 $68

Supplemental schedule of noncash
investing and financing activities:
Accretion of preferred stock $151 $--
Capital lease obligations incurred for
network equipment 871 869


Selected Subscriber Data:June 30, Mar. 31, Dec. 31, Sept. 30, June 30,
1999 1999 1998 1998 1998

Total subscriber
accounts as of (A) 7,175,000 6,817,0006,336,000 5,852,0005,298,000
Subscriber accounts
that connected in
the three-month
period ended 2,920,000 3,108,000 3,108,000 3,121,0003,032,000
Subscriber accounts
that connected in
the month ended 2,277,000 2,438,000 2,434,000 2,409,0002,361,000
Average subscriber
accounts that
connected per day
in the month ended 810,000 912,000 887,000 889,000 836,000
Billable subscription
service accounts as
of (B) 270,000 207,000 144,000 64,000 --

(A) Includes all user accounts created since Juno's inception,
regardless of activity level, if any, net of accounts that have
been cancelled.
(B) Billable subscription service accounts are a subset of total
subscriber accounts and, to the extent applicable, are also included
in the number of subscriber accounts shown as having connected during
the periods described.

SOURCE Juno Online Services, Inc.

/CONTACT: Becky Yeamans of Juno Online Services, Inc., 212-597-9005,
email,; or Paul Henning or Barbara Manley of The Financial
Relations Board, Inc., 212-661-8030/

To: rdmsqito who wrote (217)12/20/1999 1:28:00 AM
From: 2MAR$  Read Replies (1) | Respond to of 510
Juno offers $9.95/mth Web access or free with ads

NEW YORK, Dec 20 (Reuters) - Juno Online Services Inc.
<JWEB.O> on Monday said it will broaden its Internet access
offerings to include free ad-supported and lower-cost monthly
services in the latest move to put pressure on premium-priced
services such as market leader America Online Inc. <AOL.N>.
The company, which started out as a free e-mail provider
and now counts roughly 2.5 million active e-mail users, also
said it planned to cut the cost of its full monthly access
offer to $9.95 from the going industry rate of $19.95 a month.
In addition, Juno said it would introduce a high-speed
Internet access service known as Juno Express in early 2000
with details on pricing and potential partners to follow. In
October, it announced a deal with minority owner News Corp
<NWS.N> to supply programming to the upcoming high-speed
The three additional Internet access offerings will come in
addition to its standard offer of free e-mail access, supported
by advertising. The $9.95-per-month offer includes 150 hours of
access in exchange for viewing a limited number of ads.
The New York-based company counted 400,000 billable
subscribers to its Internet access services at the end of
September, the most recent period for which figures are
available and up from 270,000 at the end of June.
The company has signed up 7.6 million subscriber accounts
of which 2.9 million were active in the third quarter.
Juno positions itself as a mainstream provider of Internet
services, competing with the likes of far larger AOL, Earthlink
<ELNK.O>/Mindspring <MSPG.O> and Microsoft Corp's <MSFT.O> MSN
in an effort to attract millions of newcomers online.
Other U.S.-based free Internet access providers include
ad-supported NetZero <NZRO.O> and online-shopping supported
WorldSpy Corp of White Plains, N.Y. NetZero claimed 1 million
users of its free Internet access service in September.
America Online competes in the budget-priced Internet
access category with its CompuServe brand and recently has
struck a range of deals with PC makers and retailers that offer
variations of either subsidised PCs or low-priced Web access.
Shares of Juno closed off of a point on Friday at
16-3/8, little changed from its initial public offering price
of 13 in May.
((-- Eric Auchard, New York newsdesk, 212-859-1840))
*** end of story ***