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Stocks C / CyberCash, Inc.

URL:  https://boards.fool.com/cych-earnings-11427534.aspx

Subject:  CYCH earnings Date:  10/27/1999  10:30 AM
Author:  techinv Number:  721 of 973

Anybody out there???



CyberCash Reports Third Quarter and Nine Month Results for the Period Ended September 30, 1999

RESTON, Va.--(BUSINESS WIRE)--Oct. 27, 1999--CyberCash, Inc. (Nasdaq:CYCH), the world leader in e-commerce
technologies and services for merchants, today announced financial results for the third quarter and nine months ended
September 30, 1999. CyberCash reported revenues of $5.1 million, up from $4.5 million reported for the same period last year.
The company reported a net loss per share of ($0.65) for the three months ended September 30, 1999, as compared to a loss
of ($0.51) in the third quarter of 1998, exceeding First Call's expectations for the quarter of ($0.71). Included in the financial
results were one-time expenditures of $5.0 million for a corporate branding campaign representing approximately ($0.23) per
share of the third quarter net loss.

For the nine months ended September 30, 1999, CyberCash reported revenues of $14.0 million, an increase of more than 70
percent over the same period last year, when the company reported revenues of $8.2 million. Net loss per share was ($1.61)
compared with a loss of ($1.71) per share for the nine months ended September 30, 1998.

"CyberCash is achieving its objective to grow its payments business through expanded sales and marketing efforts, and through
initiatives to provide solutions that simplify e-commerce," said Jim Condon, president and chief operating officer. "As a result, the
company continues to expand its merchant base. We increased the number of merchants using the CashRegister service to
approximately 16,000 in the third quarter, an increase of over 100 percent from a year ago. We also continued to grow the
number of transactions from our merchant base with an average of 4.9 million transactions per month in the third quarter
compared to 3.1 million transactions per month for the same quarter last year.

"In addition, we completed our acquisition of Tellan Software, Inc., which expands our software product offerings and provides
us with a scalable platform to increase our time to market for both new products and services. During this quarter, the company
increased the number of shipments of its software products sold, totaling 7,000 units, a more than 30 percent increase since the
third quarter of 1998," Condon said.

During the third quarter of 1999, CyberCash placed significant emphasis on providing transaction management services through
its Agile Wallet platform(TM). In order to bring additional value-added services to merchants that will assist them in increasing
and managing their transaction volume, CyberCash entered into strategic relationships with technology companies. These
relationships included: NetGravity to add click-through banner ad capabilities to merchants; HNC to provide fraud screening;
and Commission Junction to offer affiliate marketing services.

In addition, CyberCash succeeded during the quarter at enabling more than 350 merchant sites with its InstaBuy Form
Wizard(TM) capability, allowing consumers to complete a sales transaction at a merchant site without manually filling in payment
information. As transaction management technologies continue to emerge and adoption rates continue to increase, CyberCash
has seen transaction volumes rise. In September of 1999 alone CyberCash processed approximately 54,000 InstaBuy
transactions.

To further encourage the rapid widespread adoption of the InstaBuy service, CyberCash became the preferred wallet provider
during the third quarter of 1999 for several top financial institutions and affiliations in the United States and worldwide, although
these relationships have yet to be made public as a result of contractual agreements.

Dennis N. Cavender, chief financial officer, added, "Our growth rates as measured by revenues, merchant count, units sold and
transaction volume during the third quarter, demonstrate that our core business fundamentals are strong and that we are proving
the CyberCash e-commerce model.

"During August, we raised an additional $15 million in equity capital to fund strategic investments and the expansion of our
business. We firmly believe that in order to substantially grow our revenues in the years 2000 and beyond, we must continue to
invest in extending our suite of offerings with additional products and services and the ways in which those products and services
are distributed. By investing in high-growth e-commerce opportunities today, we are paving the way to create value for our
shareholders in the future," Cavender said.
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