Synopsis of iTurf's First Quarter results:
1) iTurf's revenues grew tremendously, while expenses were kept in check:
- Net revenues for the first quarter increased nearly 40 times to $2.6 million.
- The gross profit for the first quarter was $1.3 million.
- The net loss for the first quarter was $197,000, or $0.01 per share
2) iTurf enjoyed increased traffic to both its e-commerce and community websites:
- Quarter over quarter, iTurf's traffic grew 74.1% to 50 million page views in the month of April, compared to 29 million page views in January, 1999.
- Cumulative commerce customers increased 88.1% during the first quarter to approximately 66,000 from 35,000 as of January 31, 1999.
- iTurf's gURL.com is one of the largest and fastest-growing online communities focused on Generation Y in the country.
- iTurf added two new e-commerce properties, dotdotdash.com and storybookheirlooms.com, both of which target the younger sisters of the core dELiAs.cOm consumer.
- The recent AOL marketing agreement provides iTurf with a key opportunity to reach the largest consumer audience in cyberspace, which not only gives the company significant "new" customer opportunities, but also serves as an important brand building vehicle.
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