Your News Alert for YHOO

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IMAGE] [IMAGE] =09 As requested, your News Alert for YHOO follows from Eq=
uityAlert.com. Yahoo! Reports Fourth Quarter, Year End 2001 Financial R=
esults=1DYahoo! Exceeds Expectations with Fourth Quarter Revenue of $189 Mi=
llion, and Pro Forma Net Income of $17 Million or $0.03 Per Share SUNNYVA=
LE, Calif., Jan 16, 2002 (BUSINESS WIRE) -- Yahoo! Inc. (Nasdaq:YHOO) today=
reported results for the fiscal fourth quarter and the fiscal year ended D=
ec. 31, 2001. Net revenues for the fourth quarter ended Dec. 31, 2001 total=
ed $188.9 million, compared to net revenues of $310.9 million for the fourt=
h quarter ended Dec. 31, 2000. Pro forma net income for the fourth quarter =
of 2001 was $16.7 million or $0.03 per share diluted(1). This compares to p=
ro forma net income of $80.2 million or $0.13 per share diluted for the fou=
rth quarter of 2000(1). On a GAAP (Generally Accepted Accounting Principles=
) basis, the net loss for the fourth quarter ended Dec. 31, 2001, which inc=
ludes restructuring costs of $16.8 million, was $8.7 million or $0.02 loss =
per share diluted. The GAAP net loss for the fourth quarter ended Dec. 31, =
2000, which includes a write-down and loss on certain equity investments of=
$164.6 million, was $97.8 million or $0.17 loss per share diluted. Net r=
evenues for fiscal 2001 were $717.4 million compared to net revenues of $1,=
110.2 million in fiscal 2000. Pro forma net income in fiscal 2001 was $41.4=
million or $0.07 per share diluted compared to pro forma net income of $29=
1.0 million or $0.48 per share diluted in fiscal 2000(1). On a GAAP basis, =
the net loss for fiscal year 2001, which includes $62.2 million of restruct=
uring and acquisition-related costs, was $92.8 million or $0.16 loss per sh=
are diluted. This compares to GAAP net income of $70.8 million or $0.12 per=
share diluted for fiscal year 2000, which includes $22.8 million of acquis=
ition-related costs. "While 2001 was a year of challenges and transition,=
Yahoo! adapted and executed to end the year on a high note, with fourth qu=
arter revenues and income exceeding the business outlook we previously prov=
ided. As we reorganized the business and reduced costs throughout the year,=
Yahoo! managed through the difficult environment. We continue to focus on =
long-term growth as we execute our strategy of building a diversified globa=
l business," said Terry Semel, chairman and chief executive officer, Yahoo!=
. Leading Global Audience During the fourth quarter, Yahoo!'s strong con=
sumer metrics underscored the company's leadership position among online co=
nsumers. Yahoo!'s global network continues to be the worldwide leader in te=
rms of unique users, reach, and total time spent (Nielsen//NetRatings, Nove=
mber 2001). Yahoo!'s global audience grew to 219 million unique users, comp=
ared to 180 million in the fourth quarter of 2000. In addition, a record 86=
million active registered members logged onto Yahoo! during December 2001.=
The company's traffic increased to a record 1.32 billion page views per da=
y on average during December 2001, compared to 900 million in December 2000=
. Global Business Strategy In November 2001, Yahoo! outlined the company=
's strategy and key priorities in order to achieve sustainable, profitable =
growth over the long term. As part of the overall strategy, Yahoo! realigne=
d the organization around six key businesses in order to become more focuse=
d and efficient: listings, access, commerce, communications, media and info=
rmation and enterprise solutions. "We remain steadfast in our strategy to=
build a diversified global business by focusing our efforts and leveraging=
our core strengths to provide deeper, more valuable solutions for our cons=
umers and business partners. In the fourth quarter we executed on a number =
of initiatives to support our new business strategy and our goal is to main=
tain that momentum as we enter 2002," said Semel. "Yahoo!'s organizationa=
l strategy for 2002 and beyond is to ensure that we are in the right busine=
sses, with the structure and people to achieve maximum potential from the o=
pportunities we see," said Jeff Mallett, president and chief operating offi=
cer, Yahoo!. "We have made significant progress on our goals during a parti=
cularly challenging economic period and we will continue to leverage the st=
rength of our six business areas in order to position ourselves for growth.=
" Business Outlook "We are very pleased with our strong fourth quarter p=
erformance and we remain committed to operating in a financially discipline=
d manner as we manage through the ongoing challenging economic environment,=
" said Susan Decker, chief financial officer, Yahoo!. "To support our state=
d financial objective of maximizing long term free cash flow, we are focuse=
d in the near term on balancing short term profitability with the investmen=
t required to drive sustainable growth and, in the longer term, increasing =
revenue per user. We are extremely excited about the future, as we have cre=
ated a strong foundation that will serve as a platform to permit us to driv=
e profitable growth in the years ahead." Based on information as of Janua=
ry 16, 2002, and excluding the effects of the pending acquisition of HotJob=
s and of any other potential acquisitions, the company expects revenues for=
the first quarter 2002 to be between $160 and $180 million, and between $7=
50 and $800 million for the full year 2002. On that same basis, in the fi=
rst quarter 2002, Yahoo! expects pro forma earnings before interest, deprec=
iation and amortization (EBITDA) to range from $5 to $15 million and pro fo=
rma earnings per share (EPS) to be $0.01 or $0.02. For the full year 2002, =
pro forma EBITDA is expected to be between $70 and $100 million and pro for=
ma EPS to be in the range of $0.07 to $0.10. The Business Outlook for the=
company as of today will be available on the company's Investor Relations =
Web site throughout the current quarter. It is currently expected the full =
Business Outlook will not be updated until the release of Yahoo!'s next qua=
rterly earnings announcement; however, Yahoo! reserves the right to update =
the full Business Outlook or any portion thereof at any time for any reason=
. Quarterly Conference Call Yahoo! will host a conference call today to =
discuss fourth quarter and year end results at 5:00 p.m. Eastern Time. A li=
ve Webcast of the conference call can be accessed at http://webevents.broad=
cast.com/yahoo/011602. In addition, a replay of the call will be available =
for 48 hours following the conference call and can be accessed through the =
"Conference Calls" area of the company's Investor Relations Web site at www=
.yahoo.com/info/investor, or by calling 800/633-8284, reservation No. 20087=
964. About Yahoo! Yahoo! Inc. is a leading global Internet communication=
s, commerce and media company that offers a comprehensive branded network o=
f services to more than 219 million individuals each month worldwide. As th=
e first online navigational guide to the Web, www.yahoo.com is the leading =
guide in terms of traffic, advertising, household and business user reach. =
Yahoo! is the No. 1 Internet brand globally and reaches the largest audienc=
e worldwide. Through Yahoo! Enterprise Solutions, the company also provides=
online business and enterprise services designed to enhance the productivi=
ty and Web presence of Yahoo!'s clients. The company's global Web network i=
ncludes 24 World properties. Headquartered in Sunnyvale, Calif., Yahoo! has=
offices in Europe, Asia, Latin America, Australia, Canada and the United S=
tates. This press release and its attachments contain forward-looking sta=
tements that involve risks and uncertainties concerning Yahoo!'s expected f=
inancial performance (as described without limitation in the Business Outlo=
ok section and quotations from management in this press release), as well a=
s Yahoo!'s strategic and operational plans. Actual results may differ mater=
ially from the results predicted and reported results should not be conside=
red as an indication of future performance. The potential risks and uncerta=
inties include, among others, the slower spending environment for advertisi=
ng sales; the actual increases in demand by customers for Yahoo!'s premium =
and corporate services; the ability to successfully change the customer mix=
among Yahoo!'s advertising customers; general economic conditions (includi=
ng the effects of the terrorist attacks on the United States on Sept. 11, 2=
001 and related events); the ability to adjust to changes in personnel, inc=
luding management changes; and the dependence on third parties for technolo=
gy, content and distribution. All information set forth in this release and=
its attachments is as of Jan. 16, 2002, and Yahoo! undertakes no duty to u=
pdate this information. More information about potential factors that could=
affect the company's business and financial results is included in the com=
pany's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2000 a=
nd Quarterly Report on Form 10-Q for the quarterly period ended Sept. 30, 2=
001, including (without limitation) under the captions, "Risk Factors" and =
"Management's Discussion and Analysis of Financial Condition and Results of=
Operations," which are on file with the Securities and Exchange Commission=
(the "SEC") and available at the SEC's website at www.sec.gov. Additional =
information will also be set forth in those sections in Yahoo!'s Annual Rep=
ort on Form 10-K for the fiscal year ended Dec. 31, 2001 which will be file=
d with the SEC in the near future. (1) Pro forma net income and net incom=
e per share calculations for all 2001 and 2000 periods exclude acquisition-=
related and restructuring charges, amortization of intangibles and stock co=
mpensation, employer payroll taxes on gains realized by employees from non-=
qualified stock option exercises, investment gains and losses, and income r=
elated to a contract termination fee. Yahoo! Inc. Unaudited Pro Forma C=
ondensed Consolidated Statements of Operations (in thousands=
, except per share amounts) Three Months Ended =
Year Ended December 31, Dec=
ember 31, ------------------ ---------------=
--- 2001 2000 2001 2000 =
-------- -------- -------- -------- Net revenu=
es $ 188,911 $ 310,873 $ 717,422 $1,110,178 Costs and expe=
nses: Cost of revenues 37,301 40,071 157,001 =
149,744 Sales and marketing 90,665 122,252 38=
2,826 407,854 Product development 30,339 29,179 =
121,012 102,382 General and administrative 19,506 =
17,974 78,141 65,511 ---------- --------=
--- --------- ----------- Total costs and expenses 177,=
811 209,476 738,980 725,491 ---------- =
----------- --------- ----------- Pro forma income (loss) from operatio=
ns 11,100 101,397 (21,558) 384,687 Investment inc=
ome, net 22,452 27,901 101,905 89,939 =
Minority interests in operations of consolidated subsidiaries =
(1,465) 124 (693) (5,298) -----=
------ ----------- ---------- ----------- Pro forma income before income =
taxes 32,087 129,422 79,654 469,328 Provision for income=
taxes 15,402 49,180 38,234 178,345 =
---------- ----------- --------- ----------- Pro form=
a net income $ 16,685 $ 80,242 $ 41,420 $ 290,983 =
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Pro forma =
net income per share - diluted $ 0.03 $ 0.13 $ 0.07 $ =
0.48 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D Shares used in per share pro forma calculation - diluted =
598,244 599,518 596,545 610,678 =3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=
=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D ------------------------=
---------------------------------------------- Supplemental Financial Data =
--------------------------- Pro forma EBITDA (1) $ 28,495 $ 111,077 =
$ 43,622 $ 410,605 Pro forma after tax cash earnings (2) $ 34,17=
5 $ 90,897 $ 107,229 $ 322,546 Pro forma after tax cash earnings pe=
r share - diluted $ 0.06 $ 0.15 $ 0.18 $ 0.53 ---=
------------------------------------------------------------------- The=
above unaudited pro forma condensed consolidated statements of operations =
are not a presentation in accordance with generally accepted accounting pri=
nciples as they exclude the effects of the following (in thousands): Pro fo=
rma net income $ 16,685 $ 80,242 $ 41,420 $ 290,983 Amortiza=
tion of intangible assets (18,449) (7,661) (64,085) (28,3=
28) Payroll taxes on option exercises (197) (2,566) =
(1,310) (14,856) Stock compensation expense (989=
) (3,708) (9,096) (20,898) Restructuring costs (16,771) =
-- (57,471) -- Acquisition-related costs =
-- -- (4,750) (22,785) Other income, net: =
Investment gains (losses), net 879 (164,617) (26=
,623) (118,943) Contract termination fee -- =
-- 9,000 -- Goodwill amortization of Ya=
hoo! Japan equity investment (1,786) (1,786) =
(7,144) (4,697) Supplemental provision for income taxes (3)=
11,969 2,277 27,271 (9,700) -=
--------- ----------- --------- ----------- Reported net income (loss) =
$ (8,659) $ (97,819) $ (92,788) $ 70,776 =
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D (1) Defi=
ned as income (loss) from operations before depreciation and amortizati=
on, stock compensation expense, and acquisition-related costs and restr=
ucturing charges. (2) Defined as pro forma net income before depreciation b=
ut after payroll taxes on option exercises. (3) Supplemental provision =
for income taxes reflects a pro forma effective tax rate of 48% for 200=
1 and a pro forma effective tax rate of 38% for 2000. =
Yahoo! Inc. Unaudited Condensed Consolidated Statements=
of Operations (in thousands, except per share amounts) =
Three Months Ended Year Ended =
December 31, December 31, =
------------------ ------------------ =
2001 2000 2001 2000 -------- =
-------- -------- -------- Net revenues $ 188,911 $ 310,=
873 $ 717,422 $1,110,178 Costs and expenses: Cost of revenues =
37,301 40,071 157,001 149,744 Sales and marketing 90,6=
65 122,252 382,826 407,854 Product development 30,339 =
29,179 121,012 102,382 General and administrative =
19,506 17,974 78,141 65,511 Payroll taxes on option ex=
ercises 197 2,566 1,310 14,856 Stock compensat=
ion expense 989 3,708 9,096 20,898 =
Amortization of intangibles 18,449 7,661 64,085=
28,328 Restructuring costs 16,771 -- 57,471 =
-- Acquisition-related costs -- =
-- 4,750 22,785 --------- --------- -=
-------- ----------- Total costs and expenses 214,=
217 223,411 875,692 812,358 --------- =
--------- --------- ----------- Income (loss) from operations =
(25,306) 87,462 (158,270) 297,820 Investment income (loss), =
net 21,545 (138,502) 77,138 (33,701) Minor=
ity interests in operations of consolidated subsidiaries =
(1,465) 124 (693) (5,298) -------=
--- --------- ---------- ----------- Income (loss) before income taxes =
(5,226) (50,916) (81,825) 258,821 Provision for income =
taxes 3,433 46,903 10,963 188,045 =
--------- --------- ---------- ----------- Net incom=
e (loss) $ (8,659) $ (97,819) $ (92,788) $ 70,776 =
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Net income=
(loss) per share - diluted $ (0.02) $ (0.17) $ (0.16) $ 0.=
12 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D Shares used in per share calculation - diluted 57=
1,928 559,872 569,724 610,678 =3D=3D=3D=
=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=
=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Yahoo!=
Inc. Unaudited Consolidated Summary Balance Sheet Data =
(in thousands) =
December 31, December 31, 200=
1 2000 ---------------- -=
-------------- ASSETS Cash, cash equivalents, and investments in mar=
ketable debt securities (1) $1,730,655 $1,688,666=
Accounts receivable, net 68,648 90,561 Pro=
perty and equipment, net 131,648 109,781 Investment=
s in marketable equity securities 34,852 =
87,545 Other assets, net 427,674 293,02=
3 ---------- ---------- =
Total assets $2,393,477 $2,269,576 =
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: =
Accounts payable, accrued expenses and other liabilities =
$ 287,051 $ 226,184 Deferred revenue =
109,402 117,165 =
---------- ---------- Total liabilities =
396,453 343,349 --------=
-- ---------- Minority interests in consolidated subsidiaries =
30,007 29,313 Stockholders' equity =
1,967,017 1,896,914 -----=
----- ---------- $2,393,477 =
$2,269,576 =3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D (1) Cash, cash equivalents,=
and investments in marketable debt securities include restricted amoun=
ts of $259 million and $30 million at December 31, 2001 and 2000, respe=
ctively. Yahoo! Inc. Unaudited Co=
nsolidated Summary Cash Flows Data (in thousand=
s) Three Months Ended Year Ended =
December 31, December 31, =
------------------ ------------------ =
2001 2000 2001 2000 --=
------ -------- -------- -------- CASH FLOWS FROM OPERATING ACTIVITIE=
S: Net income (loss) $ (8,659)$ (97,819)$ (92,788)$ 70,776 =
Adjustmentto reconcile net income (loss) to net cash provided by =
operating activities: Depreciation and amortization =
36,041 19,907 130,575 69,102 Tax benefits from st=
ock options (4,055) 46,991 2,003 172,525 Noncash =
restructuring costs 3,132 -- 14=
,790 -- Other noncash items 2,580 166,805 37,856 =
144,822 Change in working capital (16,056) =
(56,946) 14,414 52,482 ---------- --------=
-- ---------- ----------- Net cash provided by operating activities =
12,983 78,938 106,850 509,707 -------=
--- ---------- ---------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES:=
Acquisition of property and equipment, net of proceeds from di=
sposals (14,342) (28,628) (86,211) (94,413) Purchase=
s of equity securities (1,800) (16,989) (11,275) (1=
06,675) Sales of equity securities 8,921 15,200 =
23,280 15,200 Acquisitions and dispositions, net of cash acq=
uired -- -- (14,478) 2,726 =
---------- ---------- ---------- ----------- Net cash used in in=
vesting activities (7,221) (30,417) (88,684) (183,162) =
---------- ---------- ---------- ----------- CASH FLOWS F=
ROM FINANCING ACTIVITIES AND OTHER: Proceeds from issuance of Capital =
Stock, net 21,006 29,379 83,875 352,279 Repurchase of Cap=
ital Stock -- -- (59,988) -- =
Other (8,771) 296 (64) 5,541 =
----------- --------- ---------- ---------- Net cash p=
rovided by financing activities and other 12,235 =
29,675 23,823 357,820 ----------- -----=
---- ---------- ---------- Net change in cash, cash equivalents, and mark=
etable debt securities 17,997 78,196 41,989 6=
84,365 Cash, cash equivalents, and investments in marketable debt ] secu=
rities at beginning 1,712,658 1,610,470 1,688,666 1,004=
,301 ---------- ---------- ---------- -----------=
Cash, cash equivalents, and investments in marketable debt securities a=
t end of period $1,730,655 $1,688,666 $1,730,655 $1,688,=
666 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D =3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D Yahoo! Inc. Fourth Q=
uarter 2001 Operating Highlights January 16, 200=
2 Audience Growth, Usage and Loyalty -- Yahoo!'s audience across i=
ts global network grew to 219 million unique users during December =
2001, up from 180 million in December 2000. A record 86 million act=
ive registered members logged into their personalized Yahoo! servic=
es during December 2001, up from 60 million in December 2000. -=
- Yahoo!'s traffic increased to a record 1.32 billion page views p=
er day on average during December 2001, compared to 900 million in =
December 2000. Yahoo! Japan and Yahoo! Europe's traffic, which is i=
ncluded in these page view totals, totaled more than 196 million an=
d 72 million page views per day on average in December 2001, respec=
tively. -- Yahoo! was ranked the number one global Web destination for=
the 18th consecutive month. Yahoo! has the largest global =
reach, reaching 52.4 percent of the global Internet population. (Ni=
elsen//Netratings Global Internet Index, November 2001, Home Panel =
Only) -- More time is spent on Yahoo! than on any other portal. An =
average U.S. Yahoo! consumer spends 2 hours and 15 minutes per =
month. (Nielsen//Netratings, November 2001) -- According to Brand Ass=
et Valuator(R)(Young and Rubicam, December 2001), the U.S. populati=
on ranks Yahoo! first among all Internet companies in terms of bran=
d equity. According to the study, Yahoo! is also perceived as being=
one of the most revolutionary brands, being dynamic, innovative, u=
p-to-date, a leader, fun and progressive. -- Yahoo! is the num=
ber one Internet property in Argentina, Hong Kong, India, Ireland, =
Japan, Singapore, and Taiwan, and the number two Internet property =
in Australia, Canada, Korea, Mexico, New Zealand, the United Kingdo=
m, and the United States. Yahoo! is in the top five in Brazil, Fran=
ce, Germany, and Spain. (Nielsen//Netratings, November 2001) Ap=
pointments -- The company announced the appointment of Gary L. Wilson =
and Ronald W. Burkle to its Board of Drectors. Wilson, 61, is =
chairman of the Board of Directors of Northwest Airlines, the wo=
rld's fourth largest airline. Burkle, 48, is founder and managing p=
artner of The Yucaipa Companies, widely known for its leadership in=
acquisitions, mergers and management of large retail and distribut=
ion companies. -- During the quarter, Yahoo! also announced the appoin=
tment of John Costello as chief global marketing officer. Costello =
will be responsible for leading Yahoo!'s worldwide strategic =
branding as well as supporting the company's product marketing in=
itiatives. Major Announcements In the fourth quarter of 2001, Yahoo=
! entered into a number of major agreements. Highlights include the followi=
ng: -- In December, Yahoo! announced the company had entered into a =
definitive agreement to acquire HotJobs.com, Ltd. The acquisi=
tion will accelerate the growth of Yahoo!'s listings business by in=
stantly positioning Yahoo! as the number two player in the online r=
ecruiting segment, one of the fastest growing opportunities within =
online classifieds. -- In November, Yahoo! announced the company had e=
ntered into a landmark strategic alliance with SBC Communications t=
o provide Internet access to millions of consumers in SBC's service=
area. SBC and Yahoo! are joining access with compelling co=
ntent to offer a first-of-its-kind service. Partnering with the lar=
gest DSL provider in the country leapfrogs Yahoo! into a top three =
position in the race to provide broadband Internet access. -- =
Yahoo! also announced the launch of Yahoo! Sponsor Matches, an enha=
nced placement program to give partner Web sites increased visibili=
ty in Yahoo!'s search results. Yahoo! introduced the program throug=
h an alliance with Overture Services Inc., formerly GoTo, the leadi=
ng provider of Pay-For-Performance search to Web sites across the I=
nternet. -- Yahoo! Europe also formed an alliance with Espotting Media=
to launch Yahoo! Sponsored Matches in five European countries -- =
United Kingdom, Germany, France, Italy and Spain -- powering =
2.5 billion search requests over the next year. -- In Brazil, Yahoo! =
announced the company would acquire Cade?, that country's leading s=
earch engine. The deal further supports Yahoo!'s commitment to grow=
its international properties and maintain a leadership position in=
key markets around the world. Essential Marketing Solutions =
-- Yahoo! served 3,795 advertisers and merchants during the four=
th quarter. Yahoo! clients include 31 of the Fortune 50 and 52 of t=
he Fortune 100 advertisers. -- New accounts and major brands served in=
the fourth quarter include American Eagle Outfitters, Hearst Busin=
ess Media, Hilton Hotels, Penguin Putnam, Seagrams, Target Stores a=
nd Toshiba. Internationally, Yahoo! signed marketing agreements =
with major brand name companies around the world including: Al=
italia, L'Oreal, Virgin Music, and Vodafone in Europe; MasterCard a=
nd Proctor & Gamble in Australia & New Zealand; JVC, Lufthansa, and=
Singapore Airlines in Asia; and IBM in Latin America. -- Yaho=
o! announced it has teamed with Arnold MPG to develop marketing sol=
utions for leading global advertisers. This agreement represents th=
e first upfront commitment made by an agency for strictly online ma=
rketing programs with an online media company. -- As outlined =
in the December 17, 2001 issue of Advertising Age, Yahoo! was the l=
eader among all competitors in the Advertising Age Survey of Agency=
Satisfaction. Yahoo! placed first in all categories evaluated incl=
uding overall score, responsiveness, willingness to negotiate, flex=
ibility, ability to customize programs, understanding of the ad bus=
iness and improvement. Enterprise Solutions -- Yahoo! Portal Solut=
ions, formerly known as Corporate Yahoo!, now has 40 customers. Yah=
oo! recently entered into a multi-year agreement with CIGNA Corpora=
tion that will give 16 million CIGNA health care members and retire=
ment plan participants the opportunity to have personalized benefit=
s Web sites based on the My Yahoo! interface starting in the first =
half of 2002. Yahoo! Portal Solutions also continued to post =
international wins through agreements with BBVA in Spain and Ceme=
x in Mexico. -- The company announced the formation of a strategy serv=
ices practice for the Yahoo! Enterprise Solutions division and the =
appointment of Joseph Cha to the new position of vice presi=
dent for strategservices. The strategy services department is a key=
new element in Yahoo!'s efforts to expand business service offerin=
gs to clients. -- Yahoo! Broadcast Solutions averaged nearly 13 millio=
n hours per month of streamed audio and video in the fourth quarter=
and delivered 707 corporate events for 532 customers. -- In O=
ctober, Yahoo! launched Yahoo! Mail - Business Edition, a new premi=
um service that allows small businesses to get a professional, bran=
ded e-mail address that is easier to use and more affordable than a=
lternative business e-mail hosting solutions. -- Yahoo! Store =
numbers rose to record 17,000 merchants, and Yahoo! launched Ad Man=
ager, a cost-effective, self-service advertising tool that enables =
Yahoo! Store merchants to create, purchase and manage advertising c=
ampaigns on the Yahoo! network within almost any budget. Consum=
er Services -- The company launched Yahoo! Essentials, an easy-to-down=
load application that customizes consumers' desktop environments by=
installing Yahoo!'s most popular products and services, in=
cluding Yahoo! Messenger, Mail, Briefcase, Photos, Games, My Yahoo!=
, Search and Companion, on their Windows operating system. Comm=
erce -- Yahoo! enabled approximately $1.5 billion in commerce =
transactions in the fourth quarter of 2001. -- During the fourth quart=
er, Yahoo! launched the new Yahoo! Shopping network, which integrat=
es the company's U.S. commerce offerings including: Auctions, Class=
ifieds, Shopping and Warehouse, the new discount shopping platform.=
These enhancements bolster Yahoo!'s commerce platform by providing=
consumers with easier access to multiple shopping options, and =
by offering Yahoo! sellers and merchants increased visibility =
for their merchandise. -- Yahoo! also introduced a new performance-bas=
ed pricing model for Yahoo! Auctions resulting in a 24 percent incr=
ease in U.S. listings since November. Yahoo! Auctions began chargin=
g sellers based on the final value of an item sold, while r=
educing item listing fees, making it more cost effective to list on=
Yahoo! Auctions and deepening Yahoo!'s relationship with the selli=
ng community. -- Expanding on its commitment to personal finance, Yaho=
o! Finance introduced Money Manager, a free set of financial =
tools and services that provides an integrated view of an individ=
ual's financial life, organizing and summarizing everything consume=
rs need to know about their money in one convenient online location=
. It enables users to automatically track their finances and net wo=
rth, analyze their spending habits and long-term goals, benchmark t=
heir investments against the market, actively manage their money wi=
th the ability to pay bills and move funds among financial accounts=
, and can even save consumers money on wireless, long-distance =
and banking services. -- Just this week, Yahoo! Finance also annou=
nced an agreement with Intuit to offer consumers online tax prepara=
tion and filing services through the Yahoo! Tax Center. Communi=
cations -- Yahoo!'s communication platform, including Yahoo! Messenger=
, Yahoo! Mail and Yahoo! Groups, delivered 19.1 billion messages =
in December. Messages delivered in the fourth quarter were up =
over 30 percent from the previous quarter. -- Yahoo! Messenger launch=
ed IMVironments(TM), the first interactive, multimedia experience d=
elivered within the Yahoo! Messenger window. Marketing partners for=
this first-of-its-kind instant messaging viral marketing tool =
include Dilbert, Garbage, Nintendo of America Inc., PEANUTS, an=
d Sanrio. Yahoo! Messenger IMVironments -- "instant messaging envir=
onments" -- are interactive, themed backgrounds for Yahoo! Messenge=
r conversations that appear directly in the instant messaging windo=
w and are shared virally among friends. Media and Information -- I=
n November, Yahoo! launched FIFAworldcup.com, the official web site=
of the 2002 FIFA World Cup in Japan and Korea. Budweiser, MasterCa=
rd International and the Korean National Tourism Organization (KNTO=
) have joined as site sponsors. In September, Yahoo! and FIFA enter=
ed into an exclusive, multi-year, global relationship, whereby both=
parties jointly produce, market and commercially operate the offic=
ial Web site of the FIFA World Cup(TM). -- During the fourth q=
uarter, Yahoo! also announced the debut of its new music destinatio=
n, LAUNCH, Your Yahoo! Music Experience. This new prperty is the re=
sult of Yahoo!'s acquisition of LAUNCH Media, Inc., now a wholly-ow=
ned subsidiary, and its subsequent integration with Yahoo! Music. =
Bringing together the best elements of both sites, Yahoo! has =
created the Web's premier music destination, offering the most co=
mprehensive music-related content, features and information availab=
le. -- Yahoo! Astrology expanded its offerings with new personalized =
services including a for-pay hotline, email horoscopes, and =
astrological charts, available to fans around the world. -- Yahoo! Bro=
adcast unveiled new television, movie and music programming and ann=
ounced a syndication deal with Carsey-Werner Distribution. Some of =
the unique content announced includes full-length episodes from "To=
wnies," starring Molly Ringwald, Jenna Elfman and Lauren Graham as =
well as clips from "That 70's Show," "3rd Rock from the Sun," =
and "Rosanne;" exclusive webcasts from Dr. Stephen Covey and Sti=
ng; and a variety of content from Allfood.com. -- Yahoo! and Sony Pict=
ures Digital Entertainment announced a comprehensive online motion =
picture promotional agreement for the online promotion and marketin=
g of Sony Pictures films. This implementation was a part of the pre=
viously announced relationship between Sony Corporation of America =
and Yahoo!. Select motion picture releases from Sony Pictures =
Entertainment are being comprehensively integrated across the Ya=
hoo! network. Note to Editors: Yahoo!, Corporate Yahoo!, My Yahoo! and the=
Yahoo! logos are trademarks and/or registered trademarks of Yahoo! Inc. Al=
l other names are trademarks and/or registered trademarks of their respecti=
ve owners. CONTACT: Yahoo! Inc. =
Diana Lee, 408/349-6501 (Media Relations) =
dianalee@yahoo-inc.com =
Cathy La Rocca, 408/349-5188 (Investor Relation=
s) cathy@yahoo-inc.com =
or =
Fleishman-Hillard =
Nicole Waddell, 415/356-1037 (Media Relations) =
waddelln@fleishman.com URL=
: http://www.businesswire.com Today's News On The Net - Busine=
ss Wire's full file on the Internet with Hyperlinks to your home page. Cop=
yright (C) 2002 Business Wire. All rights reserved. -0- KEYWORD: =
CALIFORNIA INDUSTRY KEYWORD: INTERNET E-COMMERCE =
EARNINGS CONFERENCE CALLS =
SOURCE: Yahoo! Inc. =
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