KENT, CT – December 22, 1998 – Cyberian Outpost, Inc. (Nasdaq: COOL), a leading, global Internet retailer of computer hardware, software and peripheral products through its Web site, Outpost.com, today announced financial results for the third quarter ended November 30, 1998. Net sales were $23.5 million, an increase of approximately 286% over net sales of $6.1 million for the same quarter last year, and a sequential increase of 38% over net sales of $17.0 million for the second quarter ended August 31, 1998.
The Company also reported a third quarter net loss of $7.6 million, or a pro forma basic and diluted net loss per share of $0.34, compared with a net loss of $1.1 million, or a pro forma basic and diluted net loss per share of $0.12, for the same quarter last year. Gross margin for the third quarter improved slightly to 10.1%.
Revenue for the nine months ended November 30, 1998 was $52.1 million, up 257% from $14.6 million reported in the same period last year. Net loss for the nine-month period was $17.4 million, or a pro forma basic and diluted net loss per share of $0.89, compared with a net loss of $2.6 million, or a pro forma basic and diluted net loss per share of $0.34, for the same period last year.
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