CS First Boston Raises Register.com Outlook

Analyst Suji De Silva says lower than expected market costs helped boost company's operating earnings

CS First Boston raised its 2002 operating earnings estimates for Internet domain name registration company Register.com (RCOM )to $0.43 from $0.41. Analyst Suji De Silva said the company's reported second quarter earnings per share were roughly in line with estimates but that its operating earnings at $0.13 beat expectations by $0.04, thanks to lower than expected marketing costs.

The analyst cut fourth quarter 2001 revenue estimate to $28 million from $30 million to reflect a more conservative growth track. The analyst finds valuation relatively attractive, but is looking for re-acceleration of fundamentals before getting more aggressive. The stock is rated as a hold.

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