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Technology Stocks : OnSale Inc.
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To: Mike Magarahan who wrote ()11/22/1999 6:27:00 PM
From: polarisnh  Read Replies (1) of 4903
 
Egghead.com sees profitability at start of 2002

MENLO PARK, Calif., Nov 22 (Reuters) - Egghead.com (NasdaqNM:EGGS - news) (NasdaqNM:ONSL - news), the online computer retailer that completed its merger with Onsale Inc., said Monday it expected to achieve profitability at the start of 2002.

The company said in a statement it also expected revenues of about $135 million to $140 million in the fourth quarter of 1999, an estimate that reflects uncertainties about customer reaction to the unified Web site.

An further increase of 10 percent to 12 percent is expected in the first quarter of 2000 while revenues for the whole year were seen rising 45 percent to 50 percent, followed by growth of 35 percent to 40 percent hike in 2001.

The companies announced the completion of their merger earlier on Monday.

Egghead.com said it expected gross margins -- a measure of profits as a percentage of sales -- to reach about 3 percent to 5 percent in the fourth quarter of 1999 and 4 percent to 6 percent in the first quarter of 2000.

The combined company said it expected one-time merger-related costs to be about $56 million in the fourth quarter of 1999 and $2 million in the first quarter of 2000.

The company traded on Nasdaq under the symbol ``ONSL' on Monday but will switch of ``EGGSD' on Tuesday for 10 days, and then change its symbol to ``EGGS.'

Its stock closed up 2-11/16 at 26-5/8 on Monday.
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