CHICAGO, Dec. 17 /PRNewswire/ -- PC Quote, Inc. (Amex: PQT), engineer of
HyperFeed(TM) -- the fastest datafeed available -- and a leading provider of
real-time and delayed stock and market quotes, today announced the formation
of an internal Internet division, PC Quote.com. An outgrowth of its financial
content website, http://www.pcquote.com, the division's objective is to provide a
comprehensive array of investment tools to empower the growing sophistication
of the individual investor.
Continued growth in page views, increasingly attractive demographics and
the subsequent increase in advertising revenue led to the firm's decision to
segregate the website into its own business unit. "Our website has grown in
size and popularity to such a point that it is a sustainable business in its
own right. As a distinct business unit, PC Quote.com may be able to raise
financing for the Internet business separately from the market data business,"
stated Jim R. Porter, PC Quote Chairman and Chief Executive Officer. "It will
also afford PC Quote.com more flexibility in considering opportunities that
are available solely to the Internet website business."
What started out in 1995 as a corporate communications site quickly
evolved into a major financial content site for both real-time and delayed
stock quotations, in-depth financial information, news and analysis.
PC Quote, long a technological leader in the financial market data industry
was the first to offer delayed stock quotes on its website and the first to
offer free real-time quotes. http://www.pcquote.com receives over 987,000 visitors
each month from serious individual investors, portfolio managers and
professional traders. According to Fall 1998 statistics obtained from @plan,
the leading research provider of consumer behavior data on the Web,
http://www.pcquote.com's audience demographics are extremely valuable to web
marketers. In fact, http://www.pcquote.com is twice as efficient as the web at large
in reaching visitors who own shares of common stock in a company other than
their own (65.6% of http://www.pcquote.com visitors) and 57% more efficient at
reaching viewers with self-directed IRAs (34.2% of http://www.pcquote.com visitors).
"It has been obvious for a long time that the two businesses are very
different," Porter continued. "We have experienced some incredible advantages
due to the fact that PC Quote is both a market data vendor and a financial
website. However, it appears inevitable that the two units will follow very
different business models and will be presented with distinct opportunities.
This step affords our PC Quote.com management team with the charter they need
to build the business and to be decisive and responsive to market
opportunities. Now that our financial situation has improved significantly,"
Porter concluded, "we think the timing is ideal."
PC Quote has experienced continued revenue growth from both its
traditional quote business and the Internet, with revenue growth from
Internet-related products, like the website, outpacing quote revenue growth.
The last year of infrastructure building and website planning and re-design
has led the firm to identify a variety of new opportunities that it is now in
a much better position to pursue.
About PC Quote, Inc.
PC Quote, engineer of HyperFeed(TM), the fastest and most accurate
datafeed available, provides delayed and real-time securities quotations and
news to financial and consumer markets worldwide. Long a technological leader
in market data delivery, PC Quote boasts a long line of industry "firsts."
Most recently, PC Quote was the first data vendor to power its datafeed by a
100% Windows NT-based ticker plant and the first to deliver 1024KB over the
Internet. PC Quote's professional clients include brokerage firms, banks,
insurance companies, fund managers, as well as institutional and professional
investors. The company has expanded its service offerings to the individual
investor, application developers and businesses by offering its products
through the Internet. The company's website, http://www.pcquote.com, offers non-fee
delayed quotes to all visitors as well as fee-based real-time subscription
market data services.
The statements made herein that are not historical facts may contain
forward-looking information that involve substantial risks and uncertainties.
The Company's actual results, performance or achievements could differ
materially from the results, performance or achievements expressed in, or
implied by, these forward-looking statements. Among the factors that could
cause or contribute to such differences are those set forth in the Company's
filings with the Securities and Exchange Commission and include the Company's
ability to (i) obtain adequate financing to continue as a going-concern and
fund its current and future business strategies, (ii) attract and retain its
key employees, (iii) compete successfully against competitive products and
services, (iv) maintain its relationships with key suppliers and providers of
market data, and (v) the effect of economic and business conditions generally.
For more information visit pc quote's website at http://www.pcquote.com.
SOURCE PC Quote, Inc.
 back to top
Related links:
http://www.pcquote.com
CONTACT:
Jim R. Porter, Chairman and CEO,
312-913-2800, or Lorelei M. Lenzen, Manager, Marketing
Communications, 312-913-3517, both of PC Quote; or William
Murphy, General Inquiries, 312-266-6764, or Carol Barbour,
General Inquiries, 312-640-6693, both of The Financial Relations
Board
|
