I hope everybody had a great 4th of July. Looks like it has taken until Monday to get some fireworks on Wall Street! Market is up strong today. Especially the NASDAQ.
Looking through the lists, another dot-com has shown up today: Findwhat.com. I guess I am getting used to suggesting dot.com's on this website!
According to CNN.money, FWHT "develops and markets performance-based advertising services for the Internet. Clients pay the Company for each visitor delivered to their web sites." Certainly could help THIS web site!
FWHT is having a great today trading at $22.16 up $2.25 or 11.30% on the day. The p/e ratio is reported at 37.50 on NYTimes on the web.
On April 30, 2003, FindWhat.com reported their first quarter results as noted on Yahoo.com. Highlights: revenue of $15.8 million increased 18% over prior quarter SEQUENTIALLY, and an increase of 82% over first quarter revenue of $8.7 million in 2002. Diluted earnings per share increased to $.14 this year compared to $.10 last year. In addition, the company increased its current projection for 2003 results!
Morningstar.com shows revenue growth from $.1 million in 1998 to $.5 million in 1999, $2.9 million in 2000, and $20.4 million in 2001 with $43 million reported in 2002. Extrapolating the current result without any growth would result in about $63 million in revenue for 2003.
Free cash flow has been improving from $-5 million in 2000, to $4 million in 2001, $9 million in 2002 and $12 million in the trailing twelve months as reported in Morningstar.com
The company, per Morningstar, has $27.7 million in cash and $2.9 million in other current assets and only $6.8 million in current liabilities and NO long-term liabilities at all.
I do not at this point own any shares but this is another pretty picture as a dot.com that has turned profitable on spectacular revenue growth. I guess that means I like it!
Thanks for reading this post. Please feel free to leave comments right here or drop me a line at firstname.lastname@example.org if you have any questions, comments, or my favorite: words of encouragement!