ADVISORY/Dwayne Walker, CEO of Network Commerce Inc., formerly ShopNow.com, SPNW, Discusses New Corporate Name and Accelerated Profitability Schedule on CNBC Marketwatch.Business Editors ADVISORY... --(BUSINESS WIRE) Network Commerce Inc., (Nasdaq:NWKC) (www.networkcommerce.com), expects gross margins to exceed 50 percent by the end of 2000; company objective is to reach profitability in Q4 2001 WHO: Dwayne Dwayne is a given name for a male. Its origin is in the northern British Isles, and is derived from "D'Wain," meaning "of Wagons". In the United States, the spelling Dwayne is typically favored by African-Americans, who also employ variants such as Dwane, D'Wan, and DeWayne. Walker, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Network Commerce Inc., formerly ShopNow.com interviewed by Renay Re`nay´ v. t. 1. To deny; to disown. San Miguel San Miguel (sän mēgĕl`), city (1993 pop. 118,214), E El Salvador, at the foot of San Miguel volcano (6,996 ft/2,132 m). It has textile, rope, and dairy-products industries. The region produces cotton, henequen, and vegetable oil. , host of CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. Marketwatch WHAT: Discussion on the new corporate name, Web site and accelerated profitability schedule for Network Commerce Inc., formerly ShopNow.com WHEN: May 19, 2000 at 11:30 EST EST electroshock therapy. EST abbr. electroshock therapy WHERE: CNBC CNBC's Renay San Miguel will interview Chairman and Chief Executive Officer Dwayne Walker regarding ShopNow.com's announcement about the creation of a new corporate identity better reflecting the company's position as a leading provider of technology, services and commerce networks for Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the sites, businesses and merchants. The new corporate name is Network Commerce Inc. (Nasdaq:NWKC) and will serve as an umbrella identity for the company. Network Commerce's core commerce infrastructure technology, commerce applications and services will be known as the Network Commerce Distributed CommerceSuite. Built on the Distributed CommerceSuite are the Network Commerce Distributed Business Network, which includes b2bNow.com, FreeMerchant.com and pending its acquisition, Ubarter.com; and the Network Commerce Distributed Consumer Network which includes ShopNow.com, BottomDollar.com, and SpeedyClick.com. The names of these Internet properties will remain the same. The company also offers consulting, custom commerce solutions, and integrated marketing services through the Network Commerce eBusiness Solutions division. Network Commerce Inc. also announced its goal of achieving profitability, on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis consistent with current reporting, in the fourth quarter of 2001, significantly earlier than consensus analyst expectations. The company has reported strong financial results over the last several quarters, with total revenue for the first quarter of 2000 at $18.7 million, an increase of 39 percent from $13.4 million in the fourth quarter of 1999 and an increase of 146 percent from $7.6 million in the third quarter of 1999. The company's gross margins increased to 44 percent in the first quarter of 2000 from 42 percent in the fourth quarter of 1999, and 36 percent in the third quarter of 1999. The company anticipates gross margins will exceed 50 percent by the end of 2000. |
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