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Technology Stocks : Electronics Boutique (ELBO) -- Ignore unavailable to you. Want to Upgrade?

To: Mad2 who wrote (720)	6/21/2000 8:46:00 PM
From: Czechsinthemail	Respond to of 779

Electronics Boutique Reports Expected Second Quarter Results WEST CHESTER, Pa., June 21 /PRNewswire/ -- Electronics Boutique Holdings Corp. (Nasdaq: ELBO - news), among the world's largest specialty retailers of electronic games, today announced that it expects to report losses for the second quarter between $2.5 million and $3.1 million, or $0.11 - $0.14 per share on a fully diluted basis, including a loss of approximately $.9 million to $1.1 million, or $0.04 - $0.05 per share from its Internet business, EBWorld.com. The Company reported a profit of $0.5 million or $0.03 per share in the second quarter of fiscal 2000. The second quarter has traditionally been the slowest quarter of the fiscal year with the lowest earnings. In addition, the Company will report a net gain of approximately $1.1 million or $0.05 per share on the termination fee associated with the acquisition transaction of Funco, Inc. While total sales are expected to be above last year's second quarter, same-store sales will be below last year's comparable period. The Company believes that same-store sales are being negatively impacted by a near term shift in consumer demand as a result of the expected release of the Sony PlayStation 2 scheduled for October 26, 2000. Joseph J. Firestone, President and Chief Executive Officer, commented, ``We sense that consumers are slowing their purchases in anticipation of the release of the PlayStation 2 this fall and we expect third and fourth quarter sales will be quite robust. We believe that annual same-store sales will achieve positive growth over last year's strong positive results. The near term impact of this shift in demand has been a lower desire for existing console systems and a relatively soft release schedule of new titles for these systems. We believe that the video game industry will transition to the next generation of console systems much faster than any previous system introduction due to pent-up demand and a greater level of hardware and software product availability.'' Due to the shortfall in sales increases, profits are being negatively impacted by expenses that are relatively fixed, such as rent and related occupancy costs. The Company expects total revenues for the full fiscal year to be in the range of $890 million to $910 million and diluted earnings per share of $1.48 to $1.52. The anticipated loss of $0.04 to $0.05 per share for the current quarter resulting from the Internet business follows a loss of $0.02 per share incurred in the first quarter of fiscal 2000. The increase over the first quarter is primarily associated with the addition of strategic marketing alliances and aggressive competitive pricing which have contributed to on-line sales growth of almost three times the prior year period. The Company believes that its Internet business will achieve a better than breakeven performance for the second half of the fiscal year. Electronics Boutique is among the world's largest specialty retailers of video and computer games and also sells video game hardware, PC productivity software and accessories. The company currently operates 639 stores in 46 states, Puerto Rico, Canada, Australia, New Zealand and South Korea, primarily under the names Electronics Boutique and Stop 'N Save Software. The Company has also established a separate e-commerce division, EBWorld.com, Inc. The Company's website can be found at ebworld.com. This press release contains ``forward-looking statements.'' Electronics Boutique (``EB'') is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, EB's dependence on the continued introduction of new and enhanced video games and PC hardware and software; the cyclical nature of the video game market; the rapid technological changes which occur in the video game and PC industry; EB's ability to open and operate new stores on a profitable basis; the intensely competitive nature of the electronic game industry and its rapid changes in consumer preferences and frequent new product introductions; the seasonal nature of the retail industry; EB's dependence on its suppliers for products; risks inherent to conducting international operations; and consumer spending patterns and prevailing economic conditions. Please refer to Electronics Boutique's Annual Report on Form 10-K on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially. SOURCE: Electronics Boutique Holdings Corp.

To: Mad2 who wrote (720)	7/5/2000 1:21:23 AM
From: ratherbelong	Read Replies (1) \| Respond to of 779

Mad2, I am hoping that ELBO builds a new trading floor here at the $17.00 a share range. I still think we have another month or so of volatility in front of us with ELBO before we witness the long awaited entrance of the momentum players...probably starting six weeks or so prior to the intro of PlayStation2. I quess much of the timing will depend on just when Sony begins the "hype wave" in earnest. My recollection is that Sega started the push about six weeks ahead of launch. Sony will probably follow suit and do the same. In the meantime, I would like to see ELBO come out with some sort of positive press release between now and the next earnings announcement. Maybe just a reiteration of their intention to show a profit with Ebworld in the second half or maybe just to say that plans with Ebkids are proceeding as planned...just something positive to focus on while we are waiting out the next couple months. Just my two cents... Good luck to ELBO longs. RBL