COOL, Cyberian Outpost Reports Fiscal 2000 First Quarter Financial Results; Outpost.com Net Sales Increase 183% in First Quarter
KENT, Conn., June 22 /PRNewswire/ -- Cyberian Outpost, Inc. (Nasdaq: COOL - news), a leading global Internet retailer of computer hardware, software and accessories, today announced financial results for the first quarter ended May 31, 1999.
Net sales for the first quarter of fiscal 2000 were $32.7 million, an increase of approximately 183% over net sales of $11.6 million for the same quarter last year. Gross profit for the quarter increased to $3.4 million, with gross margin of 10.4%, up from gross profit of $1.0 million and gross margin of 9.0% in the first quarter ended May 31, 1998. Gross margin also improved on a sequential basis, up from 9.7% in the prior quarter.
The Company reported a first quarter net loss of $8.9 million, or a basic and diluted net loss per share of $0.38, compared to a net loss of $4.2 million, or a basic and diluted net loss per share of $0.69, for the same quarter last year. On a pro forma basis, basic and diluted net loss per share were $0.38 and $0.25, for the quarters ended May 31, 1999 and 1998, respectively.
Outpost.com achieved solid customer growth, ending the first quarter with approximately 331,000 customers in over 150 countries, an increase of 18% over the fourth quarter of fiscal year 1999. Purchases from existing customers remained very strong, with repeat buyers accounting for approximately 43% of net sales in the first quarter. |
