Some signs of life. Let's see what shakes.
Nice looking candlestick on Wednesday's close, with volume.
Support @ 0.41...0.38
Resistance @ 0.45...0.48...0.56...0.61
MACD is bearish
Stochastic is bullish
Profile Get Profile for:
Verticalnet Inc.
400 Chester Field Parkway
Malvern, PA 19355
Phone: 610-240-0600
Fax: 610-240-9470
Web Site: http://www.verticalnet.com
DETAILS
Index Membership: N/A
Sector: Technology
Industry: Internet Information Providers
Full Time Employees: 157
BUSINESS SUMMARY
Verticalnet, Inc. provides supply management on-demand solutions globally. It offers software and services in the areas of program management, spend analysis, esourcing, advanced sourcing, contract management, and supplier performance management. The company offers Verticalnet XE, a suite of software solutions, which consist of five modules: Program Manager, Spend Manager, Negotiation Manager, Contract Manager, and Performance Manager. Program Manager facilitates the rollout of reusable program and process management to ensure that strategic sourcing processes are applied across the supply management lifecycle. Spend Manager provides solution to analyze spending patterns to monitor compliance and identify sourcing opportunities. Negotiation Manager is a solution for creating, collaborating, publishing, negotiating, and analyzing auctions, requests for proposal, and/or requests for quote. Contract Manager provides the tracking, management, and negotiation capabilities necessary to negotiate and provide enterprise-wide access to contracts. Performance Manager provides management of performance and compliance, and then the ability to remedy problem areas. It also offers maintenance and support services, software installation, hosting services, infrastructure management and training, and custom software development. The company also provides supply management business process consulting primarily in the areas of spend analysis and advanced sourcing. In addition, it manages infrastructure management and support services, including buyer and supplier enablement. Further, it performs spending analysis and strategic sourcing engagements for purchasing categories, such as packaging; transportation; maintenance, repair, and operational; services; and printed materials. The company offers its products and services through its sales force and third-party alliances. Verticalnet was founded in 1995 and is headquartered in Malvern, Pennsylvania.
Some insider buying recently at .40 & .41
uc.
I'm a buyer @ 0.46....could not resist the roll of the dice.
There was 1.3 million purchase at 0.46, That should tell you something.
If it doesn't ,"nothing will !"
got in at 50 cents, enjoying my quick 16%, but wondering how far this is going to go. Any opinions? I'm worried about resistance at 61/62 cents. It would be helpful if someone could chart this one out. thanks
Press Release Source: Verticalnet, Inc.
Verticalnet Announces that Akzo Nobel to Leverage Advanced Sourcing for Transportation Categories for the U.S. and Europe
Tuesday December 6, 9:53 am ET
New Verticalnet Customer uses a Combination of Advanced Sourcing Tools and Critical Support Services to Achieve a Win-Win, Lowest Cost of Ownership Approach with Suppliers
MALVERN, Pa.--(BUSINESS WIRE)--Dec. 6, 2005--Verticalnet, Inc. (Nasdaq:VERT - News), a leading provider of on-demand, supply management solutions, today announced that Akzo Nobel, a Fortune 300 manufacturer that serves customers throughout the world with healthcare products, coatings and chemicals, has selected Verticalnet for advanced sourcing of road transportation events spanning North America and Europe. The advanced sourcing events in the U.S. are designed to optimize its shipping for a number of modes that include Less-Than-Truckload (LTL), Full Truckload (FTL), bulk, and Rail. In Europe, advanced sourcing events will include bulk transportation and palletized shipments.
Recognizing the inherent complexities and the data intensive nature of transportation sourcing, Akzo Nobel will use will use a combination of Verticalnet's Advanced Sourcing tools and critical support services to source select transportation subcategories.
According to Ronald Baars, Director Corporate Purchasing at Akzo Nobel, "Our suppliers are critical to our business success so we want to achieve a balanced approach to our optimization process. By engaging suppliers in a bidding process that allows them to express their unique capabilities and strengths, Akzo Nobel seeks to identify win-win opportunities for both buyer and supplier."
Verticalnet's Advanced Sourcing Category Solutions offer a combination of strategic sourcing services and technology tailored to the challenges faced when sourcing complex, strategically important categories. As a specialized strategic sourcing firm with extensive experience leading sourcing initiatives, Verticalnet understands the challenges in successfully sourcing complex categories like transportation - the need to lay a foundation of solid baseline data, obtain insight into complex supplier economics, meet sourcing objectives and manage costs in the face of unpredictable category dynamics. Examples of how Verticalnet meets advanced sourcing needs of large enterprises and mid market companies include:
eRFX solutions with expressive bidding technology that allows suppliers to pass on savings from their unique economics--e.g. through bundling, tiered-pricing, and alternate bids
Optimization software that accelerates bid analysis and guarantees maximum savings in light of real-world sourcing objectives
An extensive set of ongoing category management modules--e.g. cost models / formula pricing, contract management, ongoing bidding, compliance monitoring--ensures that companies translate potential sourcing savings into sustainable, transactional savings
"We are pleased that industry-leading Akzo Nobel has placed its confidence in Verticalnet and our Advanced Sourcing Category Solutions to optimize their ground transportation in the U.S. and Europe," says Nathanael V. Lentz, President and CEO of Verticalnet. "Companies worldwide are faced with rising fuel and transportation costs that contribute to the complexity of sourcing in the transportation category. Verticalnet has demonstrated that its deep category expertise, technology leadership and on-demand delivery drives down global transportation costs and help customers to see real bottom line benefits."
About Verticalnet
Verticalnet is a leading provider of on-demand supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com.
Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC
Contact:
Verticalnet, Inc.
Media:
Sloane & Company
Nevin Reilly, 212-446-1893
[email protected] or
Investor Relations:
Cameron Associates
Al Palombo, 212-245-8800 x209
[email protected]--------------------------------------------------------------------------------
Source: Verticalnet, Inc.
VERT......on the move !
Volume now @......1,153,005......+10.17%
Support @ 0.56...0.52...0.47
Resistance @ 0.61...0.65...0.71
Technicals
MACD is Bullish
Stochastic is Bullish
Last Price Quote is:
20.40%above 13-day EMA
22.19%above 50-day EMA
RS Rating: 32
Fundamentals
Key Data:
Market Cap (M): $25.85
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 02/22/2006
Last Analyst Rating: N/A
Moving on up to the North end..... ;D
+7.69%.........Volume @.......590,545
Set i was watching this one for so long, then it moved, when i wasnt looking Congrats.
Can you tell me the process to post a chart here?
thanks
Go here to this thread......
http://www.3stocksonfire.org/trading/index.php?topic=1434.0
EliteG wrote a post in there that explains it very well.
Let me know if this helped you out.
Good trading to you, and have a nice weekend !! ;)
Here some news that came out Thursday...12/08/2005........
********************************************************************
Press Release Source: Verticalnet, Inc.
Fortune 100 Process Manufacturer Selects Verticalnet to Improve Global Supply Management and Strategic Sourcing
Thursday December 8, 10:01 am ET
Verticalnet Chosen to Strengthen Control Over Supplier Contract Compliance, Performance and Identify New Global Sourcing Opportunities
MALVERN, Pa.--(BUSINESS WIRE)--Dec. 8, 2005--Verticalnet, Inc. (Nasdaq:VERT - News), a leading provider of on-demand supply management solutions, today announced that a leading Fortune 100 process manufacturer has selected Verticalnet's XE Supply Management Suite to support its corporate program to improve global sourcing effectiveness.
The global manufacturing company selected components of Verticalnet's XE Supply Management suite to support internal programs to enable an enterprise-wide process for identifying opportunities for savings and negotiating with suppliers. Another key reason Verticalnet was selected is the ability within the solution to enable corporate control over supplier contract compliance and to manage overall sourcing performance. The Company will leverage Verticalnet XE functionality to include RFx Enablement, Bid Optimization, Program Management, Contract Management, Supplier Performance Management, Supplier Corrective Action, and Supplier Corrective Action Execution. Goals for the program focus on increased savings across a broad set of commodities, a reduction in overall cycle time for sourcing, and improved consistency in global sourcing processes.
"Verticalnet is pleased that this industry-leading process manufacturer has placed its confidence in our Company and Supply Management solutions after they completed a broad and complete evaluation of market alternatives," said Nathanael V. Lentz, President and CEO of Verticalnet. "The company identified Verticalnet as a provider that is uniquely able to deliver the full scope of capabilities required to address its long term sourcing objectives. This win is another example of an industry-leading company choosing to partner with Verticalnet to reach the next level of supply management performance." Lentz concludes, "Companies are increasingly recognizing the breadth and depth of Verticalnet's XE capabilities and the benefits of these capabilities being delivered on-demand."
The Verticalnet XE Supply Management suite is available on-demand and includes:
Verticalnet® Program Manager -- lowers the total cost of ownership and improves productivity through sound and re-usable program and process management
Verticalnet® Spend Manager -- a fast, intelligent, and repeatable solution for identifying, evaluating, and quantifying enterprise-wide sourcing opportunities while measuring compliance
Verticalnet® Negotiation Manager -- accelerates and improves negotiated savings through online auctions and eRFX events
Verticalnet® Procurement Manager -- simplifies and improves control over the procurement process to help companies realize the maximum cost savings identified through supplier sourcing and negotiation
Verticalnet® Contract Manager -- provides real-time insights into contract obligations, exposures, expirations, changes and renewals delivering greater control, reducing costly oversights and minimizing supplier risk
Verticalnet® Performance Manager -- enables companies to effectively track and manage supplier performance, contract compliance and identify potential areas of supplier risk
About Verticalnet
Verticalnet is a leading provider of supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com.
Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC
Contact:
Verticalnet, Inc.
Media:
Sloane & Company
Nevin Reilly, 212-446-1893,
[email protected] or
Investor Relations:
Cameron Associates
Al Palombo, 212-245-8800 x209,
[email protected]--------------------------------------------------------------------------------
Source: Verticalnet, Inc.
This one hit bottom ,that's just IMHO.
And broke the down trend line on heavy volume.Now it has took out the 50-dma, and sets above the 200-dma by one penny.
Support @ 0.65...0.61...0.56
Resistance @ 0.71...0.73...0.75...0.81
Technicals
MACD is Bullish........ ;D
Stochastic is Bullish... ;D
Last Price Quote is:
24.11%above 13-day EMA
32.61%above 50-day EMA
RS Rating: 81
Fundamentals
Key Data:
Market Cap (M): $33.51
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 02/22/2006
Last Analyst Rating: N/A
Nice pick, setravis, somehow I managed to overlook it for a while. If it parks itself here above the 200 ma for a few days, I'll be looking to take a position and sell in your 1.00 target range.
Got a bounce off the 50-dma,also at a 61.8% Fibonacci retracement.
Support @ 0.60...0.55...0.51
Resistance @ 0.64...0.71...0.74
Recent CandleStick Analysis..... ;D
Very Bullish
Dec-21-2005 Inverted Hammer... ;D
Technicals
MACD is Bullish...... :D
Stochastic is Bullish.... :D
Last Price Quote is:
5.24%above 13-day EMA
12.54%above 50-day EMA
RS Rating: 61
Fundamentals
Key Data:
Market Cap (M): $29.68
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 02/22/2006
Last Analyst Rating: N/A
Press Release Source: Verticalnet, Inc.
Verticalnet Announces its Newest Reseller Partner Relationship - Management Toolbox, a Leading New Zealand-Based Sourcing Consultancy
Wednesday December 21, 10:21 am ET
Management Toolbox Leverages Verticalnet XE Supply Management Suite and the Power of On-Demand for Customers in Mining, Healthcare, Government and More
MALVERN, Pa.--(BUSINESS WIRE)--Dec. 21, 2005--Verticalnet, Inc. (Nasdaq:VERT - News), a leading provider of on-demand supply management solutions, announced today that it has established a reseller partner relationship with Management Toolbox - a leading specialized sourcing consultancy based in New Zealand. Management Toolbox will offer customers throughout New Zealand on-demand access to the industry-leading Verticalnet XE Supply Management Suite.
The focus of Management Toolbox is to provide expertise and software solutions to improve supply chain management, procurement and partnering, process improvement and relationship management for customers in Mining, Education, Healthcare, State and local government and other key verticals. From coaching sales teams on total cost of ownership to placing a procurement professional within an organization to develop and implement a supply chain strategy - the Management Toolbox team has unequalled experience, know-how and skills supported by proven tools and processes.
"We are pleased to have a global partner like Verticalnet that delivers end-to-end supply management solutions using an on-demand delivery model," says Ross Darrah, CEO and Founder of Management Toolbox Limited. "Our customers in New Zealand are generally mid market companies or departments within large enterprises, state or local governments, that require cost-effective sourcing solutions that are quick to deploy, provide fast ROI and offer low ongoing cost of ownership. With the Verticalnet XE Suite available on-demand we now have easy to use and deploy capabilities that our customers need to optimize sourcing effectiveness and meet their business objectives."
"Verticalnet is excited that Management Toolbox has placed its confidence in our company and our on-demand XE Supply Management solutions," said Nathanael V. Lentz, President and CEO of Verticalnet. "Our new partner, based in New Zealand, further validates the traction of our global channel program and proves that our on-demand model is the right approach for Verticalnet, our partners and our combined customers."
About Verticalnet
Verticalnet is a leading provider of on-demand supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com.
Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC
Contact:
Verticalnet, Inc.
Media Contact:
Sloane & Company
Nevin Reilly, 212-446-1893
[email protected] or
Investor Relations Contact:
Cameron Associates
Al Palombo, 212-245-8800 x209
[email protected]--------------------------------------------------------------------------------
Source: Verticalnet, Inc.
VERT respected the 61.8% Fibonacci Retracement and bounce like a ball ... great!! (applaud)
just want to point out... do be careful if this starts heading down (say, below .50)... it may be a good fib. retracement but it could also be the start of a head and shoulders pattern.
Recent CandleStick Analysis
Very Bullish
Jan-05-2006 Bullish Engulfing
Support @ 0.58...0.51...0.47
Resistance @ 0.64...0.74...0.81
Technicals
MACD is Bullish
Stochastic is Bullish
Last Price Quote is:
2.04%above 13-day EMA
6.53%above 50-day EMA
RS Rating: 52
Press Release Source: Verticalnet, Inc.
Verticalnet Selected by Leading Pharmaceutical Company to Improve Effectiveness of Global Sourcing and Spend Visibility
Tuesday January 17, 9:47 am ET
Leading Pharmaceutical Manufacturer Selects Verticalnet XE On-Demand Supply Management Solution
Expects to Increase Sourcing Efficiency and Improve Costs
MALVERN, Pa.--(BUSINESS WIRE)--Jan. 17, 2006--Verticalnet, Inc. (Nasdaq:VERT - News), a leading provider of on-demand supply management solutions, today announced that a leading pharmaceutical company has selected the Verticalnet XE Supply Management suite to improve global sourcing, standardize sourcing process for its facilities around the world, and improve spend visibility. The new Verticalnet customer develops, manufactures, markets and distributes branded and generic pharmaceutical products in multiple locations including the U.S. and internationally.
The new Verticalnet pharmaceutical customer plans to roll-out the global sourcing initiative in a two phase approach. In Phase One, the customer will use the Verticalnet XE Negotiation Manager module to automate its sourcing and supplier management process to generate sustainable bottom line savings on their existing global spend. Also in Phase One, the customer will leverage Verticalnet Program Manager to improve efficiency of sourcing events and standardize processes on a global basis. In Phase Two, the Verticalnet XE Spend Manager will be used to improve global spend analysis and visibility across business units and identify opportunities to achieve enterprise sourcing leverage. Also in Phase Two, the customer will leverage Verticalnet XE Performance Manager to facilitate tighter control over supplier performance and risk. The customer expects to increase sourcing efficiency by 25% and lower procurement costs by 10% as a result of its sourcing and supply management project with Verticalnet.
The new customer evaluated all the major players in the sourcing and supply management market, and chose Verticalnet because of its ease of use, on-demand delivery of a complete supply management solution, and the proven effectiveness of the solution for improving and standardizing global sourcing processes.
"We are very pleased that this industry-leading pharmaceutical manufacturer has joined the growing number of Verticalnet on-demand customers that are leveraging the XE Supply Management Suite," says Nathanael V. Lentz, President and CEO of Verticalnet. "The integration among the modules of the XE suite provides customers with synergies that are not possible with individual, stand-alone software products." Lentz concludes, "The fact that the entire XE suite is on-demand also means that our customer will be able to see results sooner without lengthy software implementations and costly software upgrades."
The Verticalnet XE Supply Management suite is available on-demand and includes:
Verticalnet® Program Manager -- lowers the total cost of ownership and improves productivity through sound and re-usable program and process management
Verticalnet® Spend Manager -- a fast, intelligent, and repeatable solution for identifying, evaluating, and quantifying enterprise-wide sourcing opportunities while measuring compliance
Verticalnet® Negotiation Manager -- accelerates and improves negotiated savings through online auctions and eRFX events
Verticalnet® Procurement Manager -- simplifies and improves control over the procurement process to help companies realize the maximum cost savings identified through supplier sourcing and negotiation
Verticalnet® Contract Manager -- provides real-time insights into contract obligations, exposures, expirations, changes and renewals delivering greater control, reducing costly oversights and minimizing supplier risk
Verticalnet® Performance Manager -- enables companies to effectively track and manage supplier performance, contract compliance and identify potential areas of supplier risk
About Verticalnet
Verticalnet is a leading provider of on-demand supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com.
Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC
Contact:
Verticalnet, Inc.
Media:
Sloane & Company
Nevin Reilly, 212-446-1893
[email protected] or
Investor Relations:
Cameron Associates
Al Palombo, 212-245-8800 x209
[email protected]--------------------------------------------------------------------------------
Source: Verticalnet, Inc.
Nice day. MACD heading north, bouncing off center.
Stochastic turned back up way down in oversold.
Small Symmetrical Triangle (continuation) Pattern.....Breakout.
Closed above the 200-dma.
Good volume today.
Volume: 2,434,655
Avg Vol (3m): 881,164
Recent CandleStick Analysis
Very Bullish
Jan-17-2006 Bullish Engulfing
Today a White Opening Marubozu was formed. This shows that the day opened and then the prices continued to go up all day long without coming below the opening level thus forming a long white body, however prices did not close at the high of the day and thus they created an upper shadow.
Support @ 0.64...0.59...0.51
Resistance @ 0.74...0.81
Technicals
MACD is Bullish
Stochastic is Neutral
Last Price Quote is:
13.17%above 13-day EMA
15.28%above 50-day EMA
RS Rating: 75
Fundamentals
Key Data:
Market Cap (M): $27.28
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 02/22/2006
Last Analyst Rating: N/A
Looking good.
50/200-dma crossover looming.
Press Release Source: Verticalnet, Inc.
Verticalnet Reports Financial Results for the Third Quarter of 2006
Tuesday November 14, 4:53 pm ET
MALVERN, Pa.--(BUSINESS WIRE)--Verticalnet, Inc. (Nasdaq: VERT - News), a leading provider of on-demand supply management solutions, today announced results for its third quarter ended September 30, 2006.
Revenues for the quarter ended September 30, 2006 were $4.2 million, as compared to $4.9 million for the quarter ended September 30, 2005. Verticalnet's net loss for the quarter ended September 30, 2006 was $3.4 million, or ($0.42) per share, as compared to a net loss of $3.7 million, or ($0.57) per share, for the quarter ended September 30, 2005. Adjusted net loss from operations(a) for the quarter ended September 30, 2006 was $1.7 million, or ($0.20) per share, as compared to an adjusted net loss from operations(a) of $2.9 million, or ($0.45) per share, for the quarter ended September 30, 2005. For the quarters ended September 30, 2006 and 2005, weighted-average shares outstanding were approximately 8.1 million and 6.5 million shares, respectively.
Total operating expenses, including cost of revenues, for the quarter were $6.4 million, which included non-cash charges for stock based compensation of $350,000 and amortization and depreciation expense of $607,000 as compared to $8.9 million for the third quarter of 2005, which included non-cash charges for stock based compensation of $211,000 and amortization and depreciation expense of $785,000. Excluding these non-cash charges, total operating expenses would have decreased by $2.4 million or 31%, to $5.5 million for the quarter ended September 30, 2006 as compared to $7.9 million for the quarter ended September 30, 2005. Total operating expenses, including cost of revenues, but excluding these non-cash charges as well as non-cash goodwill charges, decreased by $807,000 or 13% from the second quarter of 2006.
The Company reported that billings(b) for the third quarter of 2006 were $4.4 million, a decrease from $5.1 million for the comparable period last year. Total deferred revenues increased by $537,000 or 13% versus the deferred revenue balance at the end of the second quarter of 2006 and increased by $1.2 million or 34% since the beginning of 2006. We believe that our increase in deferred revenues indicates the growth we are achieving in our on-demand subscription business through the signing of new customer subscriptions for which revenue has not yet been recognized.
Total software and software related revenues increased to $2.3 million for the third quarter of 2006, a 46% increase over the third quarter of the prior year. The software and software related revenues for third quarter of 2006 include $800,000 in perpetual software revenue associated with a restructuring of a legacy perpetual software agreement. Services revenues for the third quarter of 2006 were $1.8 million as compared to $3.3 million for the comparable period in the prior year, which included a $925,000 decline in revenues from two of Verticalnet's largest historical accounts, which reflected revenues from legacy solutions that are not part of our go forward product offerings.
The third quarter of 2006 represented Verticalnet's highest bookings quarter over the last several years and Verticalnet's best software bookings(c) quarter in its history. Bookings were driven primarily by new customer contracts, broadening of existing customer relationships, as well as renewals of subscription software relationships. Software bookings(c) for the third quarter of 2006 were $4.6 million compared to $1.0 million for the comparable period in the prior year representing a 372% improvement over the prior year. Excluding the $1.0 million of bookings associated with the restructuring of a legacy perpetual software agreement, software bookings in the third quarter of 2006 represented a 270% increase over the same period in 2005. 78% of the total software and service bookings during the third quarter of 2006 are expected to be recognized as revenues in future quarters and 60% of the total potential billings are expected to be issued in future quarters as contractually agreed.
Over the past 12 months Verticalnet has executed a rigorous cost reduction strategy focused on aligning costs with sustainable revenue levels. Having focused on successful integration of four separate businesses between 2004 and 2005, the subsequent management effort has been on driving efficiency across the business. As a result of the cost reduction strategies, we have achieved significant reductions in cost of revenues and operating expenses for the third quarter of 2006 versus the same quarter in 2005. Compared to the same period in 2005, cost of revenues declined by 33%, research and development expenses declined by 34%, sales and marketing expenses declined by 24%, and general and administrative has remained relatively flat. We have achieved improved solution sales within our strategic lines of business and have continued investment across Verticalnet's XE suite while we have undertaken cost reductions.
Verticalnet finished the third quarter of 2006 with $2.5 million in cash having consumed $677,000 in operations and $1.2 million in debt service over the quarter. As of December 31, 2006, the Company expects to have approximately $2.0 to $2.5 million in cash and cash equivalents based on expected receipts from signed contracts and contracts in negotiation, including repaying $1.3 million in debt service during the fourth quarter of 2006.
As of September 30, 2006, the Company's current portion of long term debt, including convertible notes and other non-current liabilities, was $7.8 million. The Company is seeking to obtain the consent of the holders of our senior secured promissory notes to allow us to grant a security interest in our assets to the holder of our senior subordinated discounted promissory note (the "Discount Note"). If we are successful in obtaining that consent, the maturity date of the Discount Note will be extended to November 18, 2007 from January 31, 2007, the current portion of long term debt, convertible notes, and other non-current liabilities will be reduced to $3.1 million, and long term debt, convertible notes, and other non-current liabilities will be increased from $1.0 million to $5.7 million as of September 30, 2006. In addition, we are pursuing longer term options for restructuring our existing debt obligations.
"Our core business continues to see improved performance as reflected in our record quarter of bookings, our continued management of costs, and significant improvements in our adjusted results from operations," stated Nathanael V. Lentz, President and CEO of Verticalnet. "Increasingly, customers are selecting Verticalnet for our leading supply management solutions as well as our proven on-demand delivery model and I am pleased with some of the leading brand-name customers who have signed with us over the past quarter. We expect the benefit of these relationships will be reflected in the quarters to come." Lentz continued. "Despite new customer success and improved operating performance, we remain constrained by the structure of our current debt. We are committed to exploring paths to reduce this debt burden and position the business for accelerated growth."
BUSINESS HIGHLIGHTS:
Verticalnet experienced a strong selling quarter with new total bookings of $6.9 million and software bookings of $4.6 million. Specific business highlights since the beginning of the third quarter include:
Continued success in head-to-head competitive wins versus all major competitors with a short-list win rate of over 65% for the period;
17 new contracts signed or committed with existing customers, including a major sale of our Verticalnet® Spend Manager application to a global consumer packaged goods ("CPG") customer previously using Verticalnet® Negotiation Manager, multi-year software renewals to major hi-tech, retail, and CPG customers, and additional enablement and spend analysis services to a number of existing customers;
11 new customers, which include seven new software customers, were added during the third quarter. In addition, three existing software customers expanded their agreements to incorporate new software modules over the quarter. Since the beginning of the fourth quarter, Verticalnet has added two additional software customers and three additional services customers. During the third quarter and the fourth quarter to date approximately 88% of all new software contracts were on-demand subscriptions;
European momentum has continued with nine new European contracts signed over the quarter including four new software customers and significant services engagement to an existing customer; and
Verticalnet's optimization-led category sourcing solution, XECS, saw strong wins across both the US and Europe with eight new contracts signed in the third quarter.
"Success builds on success and our record total bookings in the third quarter suggests that we are doing many things right" stated Lentz. "Our best sales weapons are our customers and the references they provide. Our goal is to turn our new customers into reference worthy customers and to continue to build on the base of customers who speak both of satisfaction and value delivery. Our corporate culture is built on a foundation of customer focus, not simply new business focus, because a foundation of customer satisfaction is a strong place from which to build a sustainable business."
(a) Adjusted net loss from operations is a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. We believe that adjusted net loss from operations provides useful information to investors as it excludes transactions not related to the core cash operating business activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. All companies do not calculate adjusted net loss from operations in the same manner, and adjusted net loss from operations as presented by Verticalnet may not be comparable to adjusted net loss from operations presented by other companies. Included, following the financial statements, is a reconciliation of net loss to adjusted net loss from operations that should be read in conjunction with the financial statements.
(b) Billings represents all invoices billed to customers during the quarter.
(c) Software bookings represent all software and software related agreements entered into during the referenced period with new or existing customers.
About Verticalnet, Inc.
Verticalnet is a leading provider of on-demand supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise.
Cautionary Statement Regarding Forward-Looking Information
This announcement contains forward-looking information that involves risks and uncertainties. Such information includes statements about growth in our on-demand subscription business, recognized revenues from bookings in future quarters, issued billings in future quarters, expected future cash balances, expected receipts from signed contracts and contracts in negotiation, continued improved performance, the benefit of customer relationships being reflected in the quarters to come, obtaining the consent of the holders of our senior secured promissory notes to allow us to grant a security interest in our assets to the holder of our senior subordinated discounted promissory note, extending the maturity date of the Discount Note from January 2007 to November 2007, pursuing options for restructuring debt obligations, exploring paths to reduce debt and positioning the business for accelerated growth, and turning our new customers into reference worthy customers and continuing to build on the base of customers, as well as statements that are preceded by, followed by or include the words "believes," "plans," "intends," "expects," "anticipated," "scheduled," or similar expressions. For such statements, Verticalnet claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include, but are not limited to, the continued availability and terms of equity and debt financing to fund our business, our reliance on the development of our enterprise software and services business, competition in our target markets, our ability to maintain our listing on The Nasdaq Capital Market, economic conditions in general and in our specific target markets, our ability to use and protect our intellectual property, and our ability to attract and retain qualified personnel, as well as those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2005 and our Quarterly Report on Form 10-Q for the quarters ended March 31, 2006 and June 30, 2006, which have been filed with the SEC. Verticalnet is making these statements as of November 14, 2006 and assumes no obligation to publicly update or revise any of the forward-looking information in this announcement. Verticalnet is a registered trademark or a trademark in the United
Contact:
Verticalnet, Inc.
Public Relations:
Scuzscon Walker, 610-695-2301
[email protected]or
Investor Relations:
Gene S. Godick, 610-240-0600
[email protected]--------------------------------------------------------------------------------
Source: Verticalnet, Inc.
The chart.....
52wk Range: 0.55 - 5.39
Volume: 635,582
Avg Vol (3m): 51,621.5
Technicals
Last Price Quote is:
53.66%above 13-day MA
40.13%above 50-day MA
RS Rating: 19
Fundamentals
Key Data:
Market Cap (M): $7.34
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 02/15/2007
Last Analyst Rating: N/A
bizjournals.com
Verticalnet completes private stock sale
Monday June 4, 11:36 am ET
Verticalnet Inc. said Monday it has completed a private placement of $2.175 million of preferred stock through placement agent Kildare Capital Inc.
The Malvern, Pa., developer of supply management software netted $1.95 million from the placement, in which it received $1.575 million in new capital and agreed to convert $600,000 in debt it took on in early May into Series B Preferred Stock. Verticalnet issued 8.7 million shares of Series B preferred stock in the placement.
Verticalnet (NASDAQ:VERT) intends to use money from the placement for working capital, to make the final two payments on its senior secured convertible notes, and to repay part of its subordinated discount note.
The preferred stock pays in-kind interest at 12 percent per year and can be redeemed by its owner after two years. Verticalnet has agreed to ask its common shareholders to approve at its annual meeting a proposal to enable all the preferred stock to be converted into common stock and to allow it to issue Series B preferred shareholders 4.35 million warrants to be priced at the closing bid price of its stock prior to the day the warrants are issued and 4.35 million priced at 70 cents. If the proposal is approved, the interest on the preferred stock would be considered paid and the stock's redemption feature would be eliminated.
If the proposal to convert the shares is not approved, a portion of the Series B preferred stock equal to 19.9 percent of Verticalnet's outstanding common stock will be convertible into common stock, the preferred stock will still pay interest and be redeemable, and the preferred stock's owners will be granted warrants to buy 27 million shares of Verticalnet's common stock at an exercise price to be set on the day prior to Verticalnet's annual shareholders meeting.
Published June 4, 2007 by the Philadelphia Business Journal
Starting to move up on good volume.......
Stochastic oversold, turning around... highly speculative. Keep a tight stop !
Could have a Double Bottom to work off here @ 0.31...0.30
Closed well above the 13 and 50-day MA's,
strong volume to go along with this move north.
52wk Range: 0.25 - 1.82
Volume: 2,128,563
Avg Vol (3m): 139,543
Technicals
Last Price Quote is:
54.46%above 13-day MA
32.66%above 50-day MA
RS Rating: 7
Fundamentals
Key Data:
Market Cap (M): $3.53
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Moving on...
Busted through the 200-day MA
Another outstanding day of price movement and volume.
52wk Range: 0.25 - 1.75
Volume: 2,120,793
Avg Vol (3m): 156,497
Technicals
Last Price Quote is:
134.26%above 13-day MA
114.11%above 50-day MA
RS Rating: 94
Fundamentals
Key Data:
Market Cap (M): $3.53
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Back again...Sweet ! ;)
Starting to move up on good volume. Looking for a break out.
Stochastic oversold, turning around.
It looks like a good growth/value play here at this point..........
52wk Range: 0.25 - 1.20
Volume: 1,087,282
Avg Vol (3m): 271,467
Technicals
Last Price Quote is:
31.98%above 13-day MA
40.09%above 50-day MA
RS Rating: 95
Fundamentals
Key Data:
Market Cap (M): $5.71
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Investor's Business Daily
Remember B2B? It's Trying For A Comeback
Are business-to-business Internet services back?
B2B Internet HOLDRs (AMEX:BHH - News) seems to make that case as it gained 21.1% for the month through Sept. 13, according to Lipper data.
But its sterling performance doesn't show that it tracks only four stocks and as such is more volatile.
During the Internet boom, "B2B" was hot. But since then, most of the companies were bought out or went bankrupt.
The stocks in the exchange traded fund are CheckFree Corporation (NasdaqGS:CKFR - News), Ariba Inc. (NasdaqGM:ARBA - News), Internet Capital Group (NasdaqGM:ICGE - News) and VerticalNet (NasdaqCM:VERT - News).
During the course of the year the ETF's share closing price has been as high as 2.39 and as low as 1.82.
At the end of July when the major market indexes all took a tumble, B2B Internet HOLDRs went with them -- but the fall was much worse.
Finding A Bottom
Going into July 19, the ETF was at 2.32. By the end of the day it had dropped on extremely heavy volume to 1.94 before settling at 2.00.
By Aug. 1, it had bottomed out at 1.84. The total loss was 14.8% on the year.
By contrast, the S&P 500 had lost 5.6% between its peak July 19 and Aug. 1 and gained 3.3% for the year, despite the late-July swoon.
When B2B Internet came back, it nearly reached its old price level, gapping up from 1.84 to 2.20 on Aug. 2. After that, it made relatively steady gains going into September. The ETF closed at 2.24 Thursday.
CheckFree is the best-performing stock of the group. It started the year at about 40 and closed Thursday at 46.36, a 16% gain.
It gapped up Aug. 2 in the wake of the announcement that Fiserv (NasdaqGS:FISV - News) would buy it for $4.4 billion, and has traded between 44 and 47 since then.
CheckFree has an IBD Composite Rating of 93 and a Relative Strength Rating of 85.
Back And Forth
Ariba has been a volatile stock, breaking through its 10-week moving average a number of times over the past several months.
It has traded between 7.50 and 11.08 since the start of the year. Earnings growth has been inconsistent, ranging from 1,000% in the third quarter of 2005 to -33% in the third quarter of this year.
The stock has a Relative Price Strength of 74 and closed Thursday at 9.75. It has shown some upside in the wake of narrowing its third-quarter losses.
Internet Capital Group, like Ariba, has broken through its moving average line several times and is nearly flat for the year, closing Thursday at 10.89. It began the year at 10.26.
Its IBD SmartSelect Composite Rating is 43, in part reflecting third-quarter sales that were 22% lower than a year before.
VerticalNet started the year at 5.36 and stayed on a steady slide until it bottomed out in April and May.
__________________________________________________________________
• Verticalnet OKs Reverse Stock Split
AP (Wed, Aug 15)