Network Solutions, which runs the database that manages Internet addresses, said fourth-quarter profit more than doubled because it registered more Web site names.
Published:
11 February 2000 y., Friday
Its shares rose more than 14 percent.
Net income rose to $9.02 million, or 25 cents a share, from $3.72 million, or 11 cents a share, a year earlier. Revenue more than doubled to $75.9 million from $31.3 million. Network Solutions (NSI) registered a record 1.6 million new Internet addresses in the quarter, more than twice as many as a year earlier. The company had registered a total of 8.1 million addresses as of Dec. 31, 1999.
At the 1 p.m. PST close of regular trading, NSI shares were up $36.31 at $292.31; earlier they reached $300.75.Before today, they were up 18 percent this year. The company_s profit beat the 23 cents average estimate of analysts polled by First Call/Thomson Financial. Yesterday, NSI agreed to become the exclusive provider of Web page registration services on online sites run by CMGI's AltaVista.
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