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Slow and steady: EarthLink impresses investors

An article at TheStandard discusses EarthLink’s success with sticking to a more traditional business plan that has left the company with no debt, good cash reserves, and nearing profitability. Shares of EarthLink have more than tripled this year from their low in December of 2000 to about US$14 today. The article notes that shares could be hurt by Sprint, which has filed to sell 20 million shares (half of its stake, and 15 percent of EarthLink), and Apple, which has registered to sell its 5.1 percent stake, but hasn’t officially filed for a formal offering. Apple purchased the shares for close to $30 each, and wrote them off as an investment loss two quarters ago.

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