Barnesandnoble.com at ease with estimates
Come on $20.00,I need twenty.
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NEW YORK, July 22 (Reuters) - Barnesandnoble.com Inc. Chief Financial Officer Marie Toulantis said on Thursday that she was comfortable with analysts' estimates of its results for the remainder of 1999 and next year.
First Call Corp.'s consensus estimate for the online book retailer see a loss of $0.87 a share for all of 1999 and a loss of $0.77 a share in 2000.
Earlier, Barnesandnoble.com reported second-quarter sales of $39.1 million and a net loss of $22 million, or $0.17 a share, compared with last year's sales of $11.4 million and a loss of $23.7 million, or $0.21.
Wall Street analysts were expecting the company to report a loss of 24 cents a share for the second quarter.
The company completed its initial public offering in May 1999.
Barnesandnoble.com Chief Executive Jonathan Bulkeley said the company was expecting a ''real good fourth quarter.''
The company is expecting to step up advertising for the site on other Internet venues and building up its media presence outside cyberspace, Bulkeley said. The company advertised on television during the fourth quarter last year and this year's first quarter.
Also, Barnesandnoble.com will use Barnes & Noble stores to promote the Internet site, Bulkeley said.
Bulkeley declined to give guidance about future sales, but he said the company planned to be aggressive in adding customers, but it wanted to drive down costs of acquiring customers.
Barnesandnoble.com's coffers are filled with cash to build its brand. As of June 30, the company had $360.2 million in cash and cash equivalents and $262.5 million in marketable securities and no debt. |
