I'm missing the excitement of ROWE, huge losses to go with huge revenue jumps.
From the 10Q:
RoweCom Inc.
Consolidated Statements of Operations
(in thousands, except per share data)
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30, SEPTEMBER 30, SEPTEMBER 30,
1999 1998 1999 1998
--------------- --------------- --------------- ---------------
(unaudited) (unaudited) (unaudited) (unaudited)
<S> <C> <C> <C> <C>
Revenues $ 9,479 $ 1,413 $ 13,159 $ 3,585
Cost of revenues 8,930 1,391 12,325 3,494
--------------- --------------- --------------- ---------------
Gross profit 549 22 834 91
Operating expenses:
Sales and marketing 3,525 1,425 8,072 3,343
Research and development 882 279 2,725 749
General and administrative 1,643 382 3,541 980
Stock based compensation 656 - 656 -
Goodwill amortization 699 - 903 -
--------------- --------------- --------------- ---------------
Total operating expenses 7,405 2,086 15,897 5,072
--------------- --------------- --------------- ---------------
Loss from operations (6,856) (2,064) (15,063) (4,981)
Interest and other income, net 605 58 1,673 104
--------------- --------------- --------------- ---------------
Loss before income taxes (6,251) (2,006) (13,390) (4,877)
Provision for income taxes 7 31 63 87
--------------- --------------- --------------- ---------------
Net loss $ (6,258) $ (2,037) $ (13,453) $ (4,964)
=============== =============== =============== ===============
Basic and Diluted net loss per share
Net loss applicable to common
stockholders $ (6,258) $ (2,248) $ (13,822) $ (5,408)
Basic and diluted weighted average
shares outstanding 10,116 1,526 7,964 1,534
Basic and diluted loss per share $ (.62) $ (1.47) $ (1.74) $ (3.53)
Pro forma Basic and Diluted net loss
per share
Pro forma net loss applicable to common
stockholders $ (6,258) $ (2,037) $ (13,453) $ (4,964)
Basic and diluted weighted average
shares outstanding 10,116 4,379 9,209 3,377
Basic and diluted pro forma loss per
share $ (.62) $ (.47) $ (1.46) $ (1.47)
</TABLE>
For a B2B company, it is bleeding right now.
I'd wait a quarter to see if it can control losses otherwise this will tank further down.
Jack |
