Akamai Aiming To Ease The Flow Of Net Data, But That Goal's Elusive Profit At Least A Year Away Company has rebounded a bit, but it still faces lots of competition, questions.(INTERNET & TECHNOLOGY)

Byline: MURRAY COLEMAN

Investors in Akamai Technologies Inc. certainly have been through the best and worst of times.

Like many other tech companies, the Internet services developer profited mightily in boom times. Shortly after it went public, its shares shot past 327 in late 1999.

But that was then. This autumn, the stock fell to 2.50 as the slowing economy kicked the already free-falling tech market down further.

Now the company is claiming a comeback of sorts. It says costs are under control, and it's completed an expansive -- as well as expensive -- project designed to improve network computing for clients.

Still, not everyone's convinced. While Akamai's stock has shown a slight improvement lately, even its most ardent supporters admit it's still a year or more away from breaking into profitability.

"They've built a system with an enormous amount of capacity to pass information along the Internet," said Adam Holiber, a Wedbush Morgan analyst, who gives Akamai his firm's highest buy rating.