Leading Internet gateway site and navigational guide, Yahoo.com, has announced its first full year of profits. The news comes as a relief to investors who have poured money into the publicly quoted company over the past year.

Yahoo posted net income of $18.5 million (#16 million), or 16 cents per diluted share, after one-time charges and other non-recurring costs during the fourth quarter, on revenues of $76.4 million (#66.43 million). In a separate announcement, Yahoo announced a stock split, with each owner of Yahoo shares, from January 22nd, to receive an additional share for every share they owned on that date. In addition, Yahoo promoted current president and chief executive officer, Mr Tim Koogle, to the post of chairman and CEO, while chief operating officer, Mr Jeff Mallett, takes over as president.