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October 6, 1998

OPEN MARKET SEES POOR Q3 SALES, SHARES PLUNGE

By CBR Staff Writer

Open Market Inc, Burlington, Massachusetts-based internet commerce software house, has announced that revenues for the third quarter will come in between $14m and $15m, below the company’s internal expectations. At that sales level Open Market figures to report a net loss per share will be in the range of $0.20 to $0.17 – far worse than the loss of $0.07 that analysts surveyed by First Call were anticipating. In the year-ago quarter, the company posted a loss of $0.20 per share on revenue of $15.7m. The company blames the poor showing on slower-than- expected sales of its Folio web publishing products to corporate customers and through the reseller channel, as well as (what else?) a shortfall in revenue from Japan and the rest of Asia. Open Market has yet to see a profit since its founding in 1994, having recorded a loss last year of $58m on revenue of $61.3m. The company is scheduled to release full results for the quarter on October 22. Shares in the company fell $2.375, or more than 28%, on the news to close at $6. The shares had fallen as much as 45% in early trading.

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