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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.55

+0.2%

Dec 5 9:30 AM EST

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To: Glenn D. Rudolph who wrote (124311)	4/30/2001 1:03:47 AM
From: H James Morris	Read Replies (1) of 164684

>What surprises companies provided investors were mostly on the upside. As one columnist who has questioned Amazon.com's figures in the past, I feel duty-bound to acknowledge that the company hit its targets in the first quarter. Amazon also disclosed financial details of its year-old services business for the first time, showing that alliances with Toys R Us, drugstore.com and others generated gross profit margins of 67 percent, compared with 23 percent gross margins across the rest of the group. That will help as that part of the business grows. The quarterly results are encouraging, but I'll stay on the sidelines with Amazon. It is still a company of nearly 20 stores with about $2.8 billion in sales with only books, music and videos generating operating profits. The others, housewares and consumer electronics, as well as international operations, continue to lose money. And pro-forma operating profits, which Amazon hopes to reach in the fourth quarter of this year, still exclude important payments, most notably interest on Amazon's $2 billion in debt.

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