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June 25, 1997updated 05 Sep 2016 12:49pm

SPYGLASS WARNS OF POOR Q3 RESULTS

By CBR Staff Writer

Spyglass Inc says it expects revenue for the third quarter of between $2m and $2.3m, resulting in a loss of between $0.26 and $0.28 per share for the internet software developer. The loss will be more than twice the $0.12 per share loss that First Call analysts were expecting. The company blames the poor showing on a market for internet-enabled devices which is in an early adoption stage of development. In January, Spyglass announced its new mission of providing cut-down browsers for network computers and devices such as internet phones (CI No 3,082). The company reported second-quarter net income of $2.1m on revenue of $12m (CI No 3,147), mostly due to an $8m gain from the sale of its Mosaic browser software to Microsoft Corp.

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