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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: gladman who wrote (123242)	4/9/2001 8:15:03 AM
From: Gary Korn	Read Replies (2) \| Respond to of 164684

Amazon to beat Q1 forecast E-tailer cites strong electronics sales By Steve Gelsi, CBS.MarketWatch.com Last Update: 8:07 AM ET Apr 9, 2001 SEATTLE (CBS.MW) -- Amazon.com said Monday it'll post stronger-than-expected first quarter results, but the online retailer is still swimming in red ink. Wall Street had been expecting a loss of 30 cents per share for Amazon.com (AMZN: news, msgs, alerts) , according to First Call/Thomson Financial. Amazon says it's expecting to file a loss of 22 cents per share. Shares of Amazon rose in pre-market trades to $10.45, well up from their close of $8.37 on Friday, according to the Island ECN. CEO and founder Jeff Bezos said the company has had an "excellent" quarter and cited strong sales of electronics products. The company reaffirmed its 2001 target for a loss of 86 cents per share. Net sales are expected to exceed $695 million, an increase of more than 21 percent over the $574 million in the year-ago. Gross profit is expected to exceed $175 million, an increase of over 35 percent compared to gross profit of $128 million last year. Cash and marketable securities are expected to be over $640 million, and the company continues to expect cash and marketable securities to be over $900 million by the end of the year. The company plans to release quarterly results on April 24 after the bell. Shares of Amazon.com shares dropped 75 cents to $8.37 on Friday ahead of the report. Steve Gelsi is a reporter for CBS.MarketWatch.com. www2.marketwatch.com