Multex.com Reports Record Revenue and Net Income

First Quarter Revenue Up 83% to $29.5 Million



Net Income Totals $3.0 Million, or $0.09 per Share



Apr 19, 2001, 01:00 ET from Multex.com, Inc.

    NEW YORK, April 19 /PRNewswire/ -- Multex.com, Inc. (Nasdaq: MLTX), a
 global provider of investment information and technology solutions for the
 financial services industry, today reported record revenue and net income for
 the first quarter of 2001.
     For the quarter ended March 31, 2001, Multex reported record revenue of
 $29.5 million, an increase of 83% over the same period last year.  Pro forma
 net income, which excludes charges for amortization of goodwill, intangibles,
 and warrants issued under a strategic partnership, was $5.0 million, or $0.15
 per share, compared to pro forma net loss of $1.6 million, or $0.06 per share,
 in the first quarter of 2000.
     Net income during the first quarter of 2001 totaled $3.0 million, or $0.09
 per share, compared to a net loss of $2.1 million, or a loss of $0.07 per
 share, in the same period a year ago.
     "I am pleased to announce that Multex met the financial goals we outlined
 for the first quarter of 2001.  This is especially dramatic in light of
 current economic conditions and the uncertainty in the financial services
 industry," said Isaak Karaev, Chairman, President and Chief Executive Officer.
 "Our performance reflects the hard work and high energy of our employees, the
 value of our products and services, as well as the stability and strength of
 our business model."
     Revenue generated by MultexEXPRESS(R) during the first quarter 2001 posted
 growth of 171% from the year-ago period; MultexNET(R) revenue improved 42%
 from the first quarter of 2000; Market Guide was up 90%; and Multex Investor
 was up 32% from a year ago.  Gross margins increased to 81% in the first
 quarter of 2001 compared to 75% in the first quarter of 2000.
     At the end of the first quarter, cash and marketable securities totaled
 $44.9 million, total assets were $172.1 million, and shareholders' equity
 totaled $150.8 million.  At the end of the quarter, accounts receivable
 totaled $24.7 million, representing 76 days' sales outstanding (DSO) compared
 to 92 days at December 31, 2000.
     "Financially, we are stronger than ever as we continue to maintain our
 cash and marketable securities balances, tighten our operating expenditures
 and improve our accounts receivable balances," said John J. McGovern, Chief
 Financial Officer.  "At the same time, we successfully continued to advance
 our business through investments and refinements in operations, newly
 developed technologies and new product initiatives.  We are continuing to
 position the business to support our rapid growth and expansion requirements."
 
     Q2 and Full Year 2001 Guidance
     For the second quarter ending June 30, 2001, Multex expects revenues to be
 in the range of $30 to $30.5 million, with MultexEXPRESS, MultexNET, Market
 Guide, and Multex Investor accounting for approximately 40%, 25%, 20% and 15%,
 respectively.  Multex expects gross margin and operating margin percentages to
 approximate the first quarter actuals and net income of approximately $3.25 to
 $3.75 million.  The diluted share count for the quarter will be approximately
 35 million shares.
     For the fiscal year ending December 31, 2001, Multex expects revenues to
 be in the range of $130 to $140 million.  The contribution percentage of the
 four product groups is anticipated to be consistent with those projected for
 the quarter ended June 2001.  Multex expects gross margin of approximately 81%
 to 82%, operating margin of 12%, and net income of $18 to $22 million.  The
 diluted share count for the year will be approximately 36 million shares.
     "Our guidance for the second quarter and full year reflects the great
 strength of Multex's business model, built on a high percentage of recurring
 revenues, even in a challenging business environment," McGovern said.  "We
 remain extremely confident in the fundamental power of investment information
 and technology solutions in the financial services industry.  For the full
 year, we expect to see top-line growth in excess of 50% and a strong bottom
 line."
 
     Quarterly Conference Call
     Multex will host a conference call today at 10:00 a.m. Eastern Time to
 discuss first quarter 2001 results and outlook for the full year.  A live
 webcast of Multex's conference call will be accessible at www.streetfusion.com
 and via Multex's corporate website at www.multex.com .  In addition, a replay
 of the call will be available beginning at 2:30 p.m. Eastern Time today
 through midnight on May 19, and will be accessible by calling 800-642-1687 in
 the United States or 706-645-9291 from International locations, access code
 607323.
 
     About Multex.com, Inc.
     Multex.com, Inc. (http://www.multex.com) is a global provider of
 investment information and technology solutions to the financial services
 industry.  Headquartered in New York, the company also has offices in London,
 San Francisco, Edinburgh and Hong Kong.
 
     The Multex.com brands include:
 
     *  MultexNET(R) -- research, morning notes, earnings estimates and stock
        screening application for professional investors;
 
     *  MultexEXPRESS(R) -- customized solutions for professional users on the
        buy-side and sell-side, including BuzzPower collaboration and messaging
        platform;
 
     *  Market Guide -- information products for the financial services
        industry; and
 
     *  Multex Investor Properties -- (http://www.multexinvestor.com,
        http://www.marketguide.com, http://www.sageonline.com) provides
        qualified retail and high net worth individual leads for our brokerage,
        banking and institutional clients.
 
     This press release includes forward-looking statements under the safe
 harbor provisions of The Private Securities Litigation Reform Act of 1995.
 These forward-looking statements are based on our current expectations and
 projections about future events, and are subject to a number of risks,
 uncertainties and assumptions about Multex.com that could cause actual results
 to differ materially from those in such forward-looking statements.  Reported
 results should not be considered an indication of future performance.  Such
 risks and uncertainties are described in the periodic reports Multex files
 with the Securities and Exchange Commission, and include, among others:
 changing Internet markets and economic conditions; increasing competition in
 our investment research, earnings estimates and ASP businesses; our ability to
 manage rapid growth; our ability to attract and retain highly skilled
 employees; uncertainty as to future U.S. and international regulations
 governing the Internet; and potential failures of our network infrastructure.
 Multex undertakes no obligation to update the forward-looking statements
 contained in this press release.  The accompanying condensed consolidated
 statements of operations and balance sheets are an integral part of this
 announcement.
 
 
     Consolidated Statement of Operations
     (unaudited; in thousands, except for per share amounts)
 
                                                     Three Months Ended
                                              March 31, 2001    March 31, 2000
 
     Revenues                                     $29,504          $16,083
 
     Cost of revenues                               5,713            3,968
     Gross profit                                  23,791           12,115
 
     Operating expenses:
       Sales and marketing                          6,716            6,240
       Research and development                     2,606            2,255
       General and administrative                  11,930            6,347
     Total operating expenses                      21,252           14,842
 
     Income (loss) from operations                  2,539           (2,727)
 
     Other income (expense)
       Interest income                                581              710
       Interest expense                               (15)             (13)
     Income (loss) before income taxes              3,105           (2,030)
     Income tax expense                                90               47
     Net income (loss)                            $ 3,015          $(2,077)
 
     Basic and diluted net earnings
      (loss) per share                            $  0.09          $ (0.07)
 
     Weighted average shares outstanding - Basic   32,086           28,297
     Weighted average shares outstanding - Diluted 34,291           28,297
 
 
     Consolidated Balance Sheets
     (in thousands)
 
                                                 March 31,     December 31,
                                                   2001           2000
     ASSETS                                    (unaudited)      (audited)
     Current assets:
       Cash and cash equivalents                 $ 38,378         $ 20,237
       Marketable securities                        6,552           25,493
       Accounts receivable, net                    24,686           27,497
       Other current assets                         6,216            6,542
     Total current assets                          75,832           79,769
 
     Property and equipment, net                   40,748           37,909
     Goodwill, net                                 32,827           33,704
     Intangibles, net                              17,204           17,649
     Other                                          5,468            5,490
     Total assets                                $172,079         $174,521
 
     LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities:
       Accounts payable                          $  3,175         $  4,805
       Accrued expenses                             5,506            9,742
       Current portion of capital lease obligations    94              110
       Deferred revenues                            9,092           10,533
     Total current liabilities                     17,867           25,190
 
     Long term liabilities:
       Capital lease obligations                       65               84
       Deferred rent                                3,315            3,119
       Other                                            3                3
     Total long term liabilities                    3,383            3,206
 
     Stockholders' equity:
       Preferred stock - $.01 par value:
         Authorized - 5,000,000 shares; none issued
          and outstanding                              --               --
       Common stock - $.01 par value:
         Authorized - 200,000,000 shares; issued
          and outstanding
           31,915,000 shares at March 31, 2001
            and 31,741,000 at December 31, 2000       319              317
       Additional paid-in-capital                 221,489          216,683
       Accumulated deficit                        (58,321)         (61,336)
       Deferred equity consideration              (12,571)          (9,671)
       Accumulated other comprehensive
         income (loss)                                (87)             132
     Total stockholders' equity                   150,829          146,125
     Total liabilities and
      stockholders' equity                       $172,079         $174,521
 
 

SOURCE Multex.com, Inc.
    NEW YORK, April 19 /PRNewswire/ -- Multex.com, Inc. (Nasdaq: MLTX), a
 global provider of investment information and technology solutions for the
 financial services industry, today reported record revenue and net income for
 the first quarter of 2001.
     For the quarter ended March 31, 2001, Multex reported record revenue of
 $29.5 million, an increase of 83% over the same period last year.  Pro forma
 net income, which excludes charges for amortization of goodwill, intangibles,
 and warrants issued under a strategic partnership, was $5.0 million, or $0.15
 per share, compared to pro forma net loss of $1.6 million, or $0.06 per share,
 in the first quarter of 2000.
     Net income during the first quarter of 2001 totaled $3.0 million, or $0.09
 per share, compared to a net loss of $2.1 million, or a loss of $0.07 per
 share, in the same period a year ago.
     "I am pleased to announce that Multex met the financial goals we outlined
 for the first quarter of 2001.  This is especially dramatic in light of
 current economic conditions and the uncertainty in the financial services
 industry," said Isaak Karaev, Chairman, President and Chief Executive Officer.
 "Our performance reflects the hard work and high energy of our employees, the
 value of our products and services, as well as the stability and strength of
 our business model."
     Revenue generated by MultexEXPRESS(R) during the first quarter 2001 posted
 growth of 171% from the year-ago period; MultexNET(R) revenue improved 42%
 from the first quarter of 2000; Market Guide was up 90%; and Multex Investor
 was up 32% from a year ago.  Gross margins increased to 81% in the first
 quarter of 2001 compared to 75% in the first quarter of 2000.
     At the end of the first quarter, cash and marketable securities totaled
 $44.9 million, total assets were $172.1 million, and shareholders' equity
 totaled $150.8 million.  At the end of the quarter, accounts receivable
 totaled $24.7 million, representing 76 days' sales outstanding (DSO) compared
 to 92 days at December 31, 2000.
     "Financially, we are stronger than ever as we continue to maintain our
 cash and marketable securities balances, tighten our operating expenditures
 and improve our accounts receivable balances," said John J. McGovern, Chief
 Financial Officer.  "At the same time, we successfully continued to advance
 our business through investments and refinements in operations, newly
 developed technologies and new product initiatives.  We are continuing to
 position the business to support our rapid growth and expansion requirements."
 
     Q2 and Full Year 2001 Guidance
     For the second quarter ending June 30, 2001, Multex expects revenues to be
 in the range of $30 to $30.5 million, with MultexEXPRESS, MultexNET, Market
 Guide, and Multex Investor accounting for approximately 40%, 25%, 20% and 15%,
 respectively.  Multex expects gross margin and operating margin percentages to
 approximate the first quarter actuals and net income of approximately $3.25 to
 $3.75 million.  The diluted share count for the quarter will be approximately
 35 million shares.
     For the fiscal year ending December 31, 2001, Multex expects revenues to
 be in the range of $130 to $140 million.  The contribution percentage of the
 four product groups is anticipated to be consistent with those projected for
 the quarter ended June 2001.  Multex expects gross margin of approximately 81%
 to 82%, operating margin of 12%, and net income of $18 to $22 million.  The
 diluted share count for the year will be approximately 36 million shares.
     "Our guidance for the second quarter and full year reflects the great
 strength of Multex's business model, built on a high percentage of recurring
 revenues, even in a challenging business environment," McGovern said.  "We
 remain extremely confident in the fundamental power of investment information
 and technology solutions in the financial services industry.  For the full
 year, we expect to see top-line growth in excess of 50% and a strong bottom
 line."
 
     Quarterly Conference Call
     Multex will host a conference call today at 10:00 a.m. Eastern Time to
 discuss first quarter 2001 results and outlook for the full year.  A live
 webcast of Multex's conference call will be accessible at www.streetfusion.com
 and via Multex's corporate website at www.multex.com .  In addition, a replay
 of the call will be available beginning at 2:30 p.m. Eastern Time today
 through midnight on May 19, and will be accessible by calling 800-642-1687 in
 the United States or 706-645-9291 from International locations, access code
 607323.
 
     About Multex.com, Inc.
     Multex.com, Inc. (http://www.multex.com) is a global provider of
 investment information and technology solutions to the financial services
 industry.  Headquartered in New York, the company also has offices in London,
 San Francisco, Edinburgh and Hong Kong.
 
     The Multex.com brands include:
 
     *  MultexNET(R) -- research, morning notes, earnings estimates and stock
        screening application for professional investors;
 
     *  MultexEXPRESS(R) -- customized solutions for professional users on the
        buy-side and sell-side, including BuzzPower collaboration and messaging
        platform;
 
     *  Market Guide -- information products for the financial services
        industry; and
 
     *  Multex Investor Properties -- (http://www.multexinvestor.com,
        http://www.marketguide.com, http://www.sageonline.com) provides
        qualified retail and high net worth individual leads for our brokerage,
        banking and institutional clients.
 
     This press release includes forward-looking statements under the safe
 harbor provisions of The Private Securities Litigation Reform Act of 1995.
 These forward-looking statements are based on our current expectations and
 projections about future events, and are subject to a number of risks,
 uncertainties and assumptions about Multex.com that could cause actual results
 to differ materially from those in such forward-looking statements.  Reported
 results should not be considered an indication of future performance.  Such
 risks and uncertainties are described in the periodic reports Multex files
 with the Securities and Exchange Commission, and include, among others:
 changing Internet markets and economic conditions; increasing competition in
 our investment research, earnings estimates and ASP businesses; our ability to
 manage rapid growth; our ability to attract and retain highly skilled
 employees; uncertainty as to future U.S. and international regulations
 governing the Internet; and potential failures of our network infrastructure.
 Multex undertakes no obligation to update the forward-looking statements
 contained in this press release.  The accompanying condensed consolidated
 statements of operations and balance sheets are an integral part of this
 announcement.
 
 
     Consolidated Statement of Operations
     (unaudited; in thousands, except for per share amounts)
 
                                                     Three Months Ended
                                              March 31, 2001    March 31, 2000
 
     Revenues                                     $29,504          $16,083
 
     Cost of revenues                               5,713            3,968
     Gross profit                                  23,791           12,115
 
     Operating expenses:
       Sales and marketing                          6,716            6,240
       Research and development                     2,606            2,255
       General and administrative                  11,930            6,347
     Total operating expenses                      21,252           14,842
 
     Income (loss) from operations                  2,539           (2,727)
 
     Other income (expense)
       Interest income                                581              710
       Interest expense                               (15)             (13)
     Income (loss) before income taxes              3,105           (2,030)
     Income tax expense                                90               47
     Net income (loss)                            $ 3,015          $(2,077)
 
     Basic and diluted net earnings
      (loss) per share                            $  0.09          $ (0.07)
 
     Weighted average shares outstanding - Basic   32,086           28,297
     Weighted average shares outstanding - Diluted 34,291           28,297
 
 
     Consolidated Balance Sheets
     (in thousands)
 
                                                 March 31,     December 31,
                                                   2001           2000
     ASSETS                                    (unaudited)      (audited)
     Current assets:
       Cash and cash equivalents                 $ 38,378         $ 20,237
       Marketable securities                        6,552           25,493
       Accounts receivable, net                    24,686           27,497
       Other current assets                         6,216            6,542
     Total current assets                          75,832           79,769
 
     Property and equipment, net                   40,748           37,909
     Goodwill, net                                 32,827           33,704
     Intangibles, net                              17,204           17,649
     Other                                          5,468            5,490
     Total assets                                $172,079         $174,521
 
     LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities:
       Accounts payable                          $  3,175         $  4,805
       Accrued expenses                             5,506            9,742
       Current portion of capital lease obligations    94              110
       Deferred revenues                            9,092           10,533
     Total current liabilities                     17,867           25,190
 
     Long term liabilities:
       Capital lease obligations                       65               84
       Deferred rent                                3,315            3,119
       Other                                            3                3
     Total long term liabilities                    3,383            3,206
 
     Stockholders' equity:
       Preferred stock - $.01 par value:
         Authorized - 5,000,000 shares; none issued
          and outstanding                              --               --
       Common stock - $.01 par value:
         Authorized - 200,000,000 shares; issued
          and outstanding
           31,915,000 shares at March 31, 2001
            and 31,741,000 at December 31, 2000       319              317
       Additional paid-in-capital                 221,489          216,683
       Accumulated deficit                        (58,321)         (61,336)
       Deferred equity consideration              (12,571)          (9,671)
       Accumulated other comprehensive
         income (loss)                                (87)             132
     Total stockholders' equity                   150,829          146,125
     Total liabilities and
      stockholders' equity                       $172,079         $174,521
 
 SOURCE  Multex.com, Inc.