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Technology Stocks : ITURF Inc. ( NASDAQ:TURF )
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To: googster who wrote (606)2/8/2000 10:41:00 AM
From: Big Dog  Read Replies (1) of 614
 
iTurf Inc. Preliminary Fourth Quarter Revenue Tops Analyst Targets by 70%: $13.8 Million Net Revenue Represents Nearly Sixfold Increase Over Fourth Quarter Last Year

1999 Q4 Revenue Exceeds Business Model Projection By One Year

NEW YORK--(BUSINESS WIRE)--Feb. 8, 2000-- iTurf Inc. (Nasdaq: TURF - news), the leading proprietary online teen network, today announced better-than-expected preliminary net revenue of $13.8 million from commerce and advertising activities on its network of web sites for the fourth quarter ended January 29, 2000. Net revenue for the full fiscal year is expected to be $24.7 million. Supported by record holiday traffic, iTurf's fourth quarter net revenue surpassed median analyst projections by 70%. iTurf expects to announce complete financial results for the fourth quarter and full fiscal year on the morning of March 28, 2000.

iTurf's fourth quarter preliminary net revenue of approximately $13.8 million represents a 160% increase over net revenue of $5.3 million in the third quarter ended October 30, 1999 and a 557% increase over net revenue of $2.1 million for the fourth quarter last year. The Company's fiscal 1999 net revenue of approximately $24.7 million increased 518% over the prior year's net revenue of $4.0 million.

These expected results are preliminary and are subject to the completion of iTurf's annual audit of full fiscal year financial statements.
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