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SINA.com
Fourth Quarter Revenues Will Exceed $5.5 million; Sequential Revenue Growth
In Excess of 50% Over Prior Quarter
SUNNYVALE, Calif. - June 27, 2000 --- SINA.com (Nasdaq: SINA),
a leading Internet media and services company for Chinese communities worldwide,
announced today that it expects to report record revenues in excess of $5.5
million for its fourth quarter ending June 30, 2000, well ahead of published
analyst estimates.
SINA.com's revenue growth is expected to be in excess of 50 percent over the
previous quarter. For the prior quarter ended March 31, 2000, SINA.com reported
revenues of $3.6 million and pro forma net loss of $6.7 million or $.20 per
share, excluding non-cash charges for amortization of intangibles and stock-based
compensation and stock accretion.
"We are excited that our revenues have risen beyond the $20 million annualized revenues plateau," said Zhidong Wang, President and Chief Executive Officer of SINA.com. "Our first-mover advantage in China and comprehensive reach across the global Chinese online community continue to draw advertisers worldwide to our site, enabling strong revenue growth in the fourth quarter."
About SINA.com
SINA.com is a leading Internet media and services company for Chinese
communities worldwide, offering on-line news, entertainment, community and e-commerce.
SINA.com offers a Chinese-language network of four localized Web sites that
are produced and updated daily by local teams in China, Hong Kong, Taiwan and
North America.
Voted number one by China Internet users in both the July 1999 and January 2000
semi-annual surveys conducted by the China Internet Network Information Centre,
or CNNIC, SINA.com is a popular website for the world's largest population group.
As of May 2000, SINA.com had over 27 million average daily page views and 6
million registered users.
To learn more about SINA.com, visit the company's corporate site at http://www.sina.com/corp
, or regional sites at http://www.sina.com.cn,
http://sina.com.hk and http://www.sina.com.tw
Cautionary Note Regarding Forward-looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995. Except for the historical information contained herein, the matters discussed
in this news release are forward-looking statements involving risks and uncertainties
that could cause actual results to differ materially from those in such forward-looking
statements. Potential risks and uncertainties include, but are not limited to,
SINA.com's historical and future losses, limited operating history, uncertain
regulatory landscape in the People's Republic of China, fluctuations in quarterly
operating results and our reliance on advertising sales for revenue. Further
information regarding these and other risks is included in SINA.com's prospectus
dated April 12, 2000 and in its other filings with the Securities and Exchange
Commission.
For more information
At SINA.com.hk
Cindy Lee
Tel: (852)2155-8858
Fax: (852)2295-3630
Email: cindy@staff.sina.com
Website: http://www.sina.com.hk