BancBoston Robertson Stephens Reiterates Buy Rating, Raises Estimates on ALOY
SAN FRANCISCO, June 15 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a
member of the National Association of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens senior eTailing and specialty retailing analyst Lauren Cooks Levitan today reiterated
her Buy rating and raised estimates on Alloy Online, Inc. (Nasdaq: ALOY - news), after the company reported
better-than-expected first quarter fiscal 1999 results. Alloy Online is an emerging leading eTailer of apparel,
accessories and other products specifically targeted at Generation Y (ages 10-24).
''We are raising our second quarter and fiscal 1999 earning per share estimates on Alloy Online based on
better-than-expected user traffic, continued robust sales momentum and solid margin trends. Our second quarter
revenue estimate increases from $2.6 million to $2.9 million, resulting in a new earnings per share estimate of ($0.24),
up from ($0.25),'' said Levitan.
''For the first quarter, Alloy announced revenues of $2.55 million, above our estimate of $1.9 million, on
better-than-expected customer growth. The company's earnings per share loss of ($0.27) also beat our estimated loss
of ($0.29), given solid gross margin of 51.1 percent,'' said Levitan.
''In the quarter, high-margin sponsorship revenues of $162,000 substantially exceeded our estimate. In addition
cumulative customer accounts grew roughly 90 percent sequentially, to approximately 570,000 in the quarter, well
ahead of our 500,000 estimate. We believe this strong business momentum has carried forward into May and June
and continue to rate the stock a Buy,'' said Levitan.
Clients interested in receiving more information should contact their salesperson at 415-781-9700.
BancBoston Robertson Stephens is a leading international investment banking firm focused on growth companies. The
firm's 55 equity and high yield research analysts cover more than 600 companies. Additional information is available
upon request.
The information contained herein is not a complete analysis of every material fact respecting any company, industry or
security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson
Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular
basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to
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results may differ significantly from the results described in the forward-looking statements. Factors that might cause
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may occasionally possess material, nonpublic information regarding such companies. This information is not used in the
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contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently
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SOURCE: BancBoston Robertson Stephens
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