Victor, Pcln was up 21% today. I'm now back in the black on this investment. I'm serious.
If this dog could get to 6, I promise to never bother you again.
>LAS VEGAS, NEVADA, Apr 02, 2001 (Newsbytes via COMTEX) -- Comparison shopping portal Priceline.com [NASDAQ:PCLN] said today that it is sticking with a February prediction that it would record a pro forma operating profit in the second quarter of this year.
The announcement came today at Goldman Sachs' 2nd Annual Internet New Media and E-Commerce Conference in Las Vegas, where the company detailed what it described as a "recovery" in 2001 after frightening investors with worse-than-expected losses in the final quarter of 2000.
"We credit the recovery of our business momentum, in large part, to the numerous improvements we've made in our products and in our customer service," Daniel Schulman, Priceline.com's president and chief executive officer, said in a prepared statement.
The company said that it is "comfortable" with its earlier projection that first-quarter revenue would climb 15 percent to 20 percent above that in the final quarter of 2000. That should result in a pro forma loss of between 5 cents and 7 cents a share, the company said.
"We believe our pro forma net loss for the first quarter will come in at the favorable end of the range we gave in February," Schulman said.
Priceline.com had also predicted that second-quarter revenue would climb by another 10 percent to 15 percent sequentially, resulting in an operating profit.
An average of analysts' estimates collected by First Call/Thomson Financial called for the company to record a loss of 5 cents a share in the first quarter and a loss of 1 cent a share in the second quarter.
On the Nasdaq today, Priceline.com stock was up 16 percent, trading at $2.94 in the early afternoon trading, though the stock had been as high as $3.38 earlier in the day. |
