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Technology Stocks : barnesandnoble.com (BNBN) -- Ignore unavailable to you. Want to Upgrade?

To: Bird who wrote (733)	2/8/2000 10:08:00 AM
From: Bird	Read Replies (1) \| Respond to of 766

NEW YORK, Feb 8 (Reuters) - Online bookstore Barnesandnoble.com Inc. on Tuesday reported a fourth quarter loss of 27 cents per share, in line with Wall Street estimates, and projected steadily decreasing losses and a move into profitability by 2002. The net loss for the quarter was $38.4 million, or 27 cents per share, versus a loss of $31.3 million, or 27 cents per share, in the year-ago quarter. Revenues were $82.1 million, compared to $25.9 million for the fourth quarter of 1998. The Wall Street consensus estimate was a loss of 27 cents per share, according to research firm First Call/Thomson Financial, which tracks analysts' earnings forecasts. Following the report, shares of Barnesandnoble.com traded as high as 13 in pre-opening trade, up 1-5/16 from Monday's close on the Nasdaq stock market. In a statement the company said it sees 2000 sales ranging between $350 million to $370 million, more than 80 percent of which will come from book sales. This growth would represent a 73 percent to 82 percent increase over 1999's rate. Barnesandnoble.com, which is majority owned by Barnes & Noble Inc. and German publisher Bertelsmann AG , also forecast a compound annual growth rate of about 40 percent to 50 percent for 2001 through 2004, in a sign of the retailer's confidence that it can continue to flourish in its battle for market share against Amazon.com Inc. . Amazon.com boosted flagging investor confidence in the Internet retail sector last week when it said its U.S. bookselling division was profitable during the quarter and that it expected the trend to continue through 2000. Still, U.S. book sales for Amazon.com account for less that half of total company sales. (( -- Monica Summers, New York Equities Newsdesk, (212) 859-1671, monica.summers@reuters.com))