This release looks MUCH better for COOL:
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Cyberian Outpost sees upside
By Corey Grice
Staff Writer, CNET News.com
October 1, 1998, 4:15 p.m. PT
Cyberian Outpost, an e-commerce leader, today reported
better-than-expected second-quarter results despite a
widening loss.
The company posted a net loss of $5.6 million or 29
cents a share on a pro forma basis, compared with a net
loss of $838,000 or 10 cents a share on a pro forma basis
reported for the like quarter a year ago.
Wall Street expected the
company to lose 43 cents a
share, according to First
Call.
The company's quarterly
revenue rose to $17
million from $4.6 million
last year.
"Cyberian Outpost has clearly positioned itself as the
leading Internet-only retailer of computer hardware,
software, and peripheral products to the consumer and
SOHO [small office/home office] markets," chief
executive Darryl Peck said in a statement. "With net
proceeds of $67 million from our July 1998 IPO, we can
continue to aggressively expand our global customer
base and encourage repeat buying."
The company saw its share price jump seven points
over the price of its first trade after going public in late
July.
Cyberian Outpost stock closed down nearly 3 percent
today at 10.125 ahead of the earnings report. The shares
have traded as high as 26 and as low as 5.9375 since the
company went public.
The company also announced today that it doubled its
customer base to 161,000 during the first half of the
fiscal year and that it will begin a radio, TV, and print
advertising campaign during the second half.
Cyberian Outpost also inked agreements with USA
Today Online, Pathfinder, and StarMedia during the
second quarter, the company said.
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