I don't know how the stock will respond to this, but....
Revenues Quadrupled in Fourth Quarter
JERSEY CITY, N.J.--(BUSINESS WIRE)--Jan. 6, 1999-- CyberShop® International, Inc. (Nasdaq: CYSP - news), a leading online retailer, today announced its fourth quarter sales were approximately $3.4 million, more than four times 1997's fourth quarter sales of $847,000.
''Our greatest success was recognizing early on that Furby was going to be the hottest toy of the 1998 holiday season,'' said Jeff Tauber, Chairman, President and CEO of CyberShop. ''We were able to secure a large supply of Furby for the holiday shopping rush and successfully made it known to disappointed brick-and-mortar retail shoppers that Furby was just a mouse click away.''
Furby was available at www.egift.com, as well as at its store on America Online throughout the holiday selling season. Sales of Furby represented approximately 60% of the company's total revenues during the fourth quarter. The average order size in the fourth quarter of 1998 was approximately $125 compared to $95 in the prior year fourth quarter. At December 31, 1998, the company had cash on hand in excess of $12 million. CyberShop expects to release complete fourth quarter and fiscal year financial results in mid-February.
About CyberShop
CyberShop, a leading online retailer, can be found on the World Wide Web at cybershop.com and on America Online in their Shopping Channel or by using keyword 'cybershop.' egift can be found on the World Wide Web at egift.com. electronics.net can be found on the World Wide Web at electronics.net.
This announcement contains forward-looking statements that involve risks and uncertainties that include, among others, CyberShop's limited operating history, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, competition, risks associated with system development and operation risks, management of potential growth and risks of new business areas, and strategic alliances.
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