I am looking at Amzn's financial statements. Do you know if the deferred interst
payment(s)(from Gary's post) are Income statement//and or balance sheets items for the
first 5 years?
Jan,
I am including the recent financial statement.
The junk bond will not show until next quarter
and the interest should be in the Income Statement and the balance
owed in the Balance Statement.
Cumulative Customer Accounts Increased 50% Quarter-to-Quarter to 2,260,000
Amazon.com Now 3rd Largest Bookseller in the US
SEATTLE, April 27 /PRNewswire/ -- Amazon.com, Inc. (Nasdaq: AMZN) today
announced financial results for the first quarter of 1998.
Net sales for the first quarter ended March 31, 1998 were $87.4 million, a
32 percent increase over net sales of $66.0 million reported for the fourth
quarter ended December 31, 1997. Net sales increased 446 percent over net
sales of $16.0 million reported for the first quarter of 1997. Net loss for
the first quarter ended March 31, 1998 was $9.26 million, or $0.40 per share,
compared with a net loss in the quarter ended December 31, 1997 of
$9.33 million, or $0.41 per share. The company reported a net loss of
$3.04 million or $0.16 per share in the quarter ended March 31, 1997.
Amazon.com also announced that cumulative customer accounts grew to over
2,260,000 at March 31, 1998, an increase of 50 percent from 1,510,000 customer
accounts at December 31, 1997 and 564 percent from 340,000 customer accounts
at March 31, 1997. Repeat customer orders represented more than 60 percent of
orders placed during the quarter ended March 31, 1998.
The Web measurement services continued to highlight Amazon.com's growing
reach among Internet users and strengthening market leadership: in March,
Amazon.com was ranked in the top 20 across all Internet sites in all major
market surveys (Media Metrix and Relevant Knowledge). In addition, not only
was Amazon.com the leading online bookseller in these surveys, it was the
leading online shopping site.
"We are very pleased with our acceleration in new customer acquisition: it
took us 27 months to serve our first million customers, and less than 6 months
to serve our second million," said Jeff Bezos, Amazon.com president and chief
executive officer. "Our strong revenue growth has now made us the third
largest bookseller in the US, online or offline. We believe that our
leadership position in the online market allows us to offer our customers the
benefits of Amazon.com selection, convenience, price and personalized services
for an expanded range of products, such as music. And we are now inviting our
customers to come help build the best music store on the Web."
Separately, Amazon.com today announced that it has acquired three leading
Internet companies: Bookpages Limited, Telebook, Inc. and Internet Movie
Database Limited. Online retailers Bookpages and Telebook are fundamental
components of Amazon.com's expansion into the European marketplace, and
Internet Movie Database is a key underpinning for Amazon.com's eventual entry
into online video sales.
"With these acquisitions, we have accelerated our expansion into European
e-commerce and acquired a foundation for a best-of-breed video store. These
acquisitions will enable Amazon.com to offer a new set of consumers the same
combination of selection, service and value that we now provide our US book
customers. We remain committed to moving quickly to solidify and extend our
current market leadership position in books while pursuing these new
opportunities. This will require aggressive future investment in building our
business and brand, expanding our product offerings, launching international
operations and integrating our recent acquisitions."
Bookpages (www.bookpages.co.uk) is one of the largest online bookstores in
the United Kingdom, providing access to all 1.2 million UK books in print.
Telebook (www.telebuch.de), operating through its ABC Bucherdienst subsidiary,
is Germany's number one online bookstore, with a catalog of nearly
400,000 German language titles. Originally launched in 1990, Internet Movie
Database (www.imdb.com) is a comprehensive repository for movie and television
information on the Internet, and is an excellent example of genuine community
on the Internet.
Each of the acquisitions will be accounted for under the purchase method
of accounting. The company will incur total charges of approximately
$55 million in connection with all three transactions. Consideration was
comprised of cash and common stock, and the company anticipates issuing an
aggregate of approximately 540,000 shares of common stock as a result of these
transactions.
Last week, Amazon.com invited music enthusiasts everywhere to contribute
to developing the music store of their dreams and launched a pilot version of
its online music area (accessible from the Amazon.com home page). Customers,
artists, music industry professionals, and other music lovers can put their
personal stamp on the music store Amazon.com is now building by contributing
their ideas and music reviews.
In February, Amazon.com launched Amazon.com Advantage, an innovative new
program designed to increase the visibility and sales of titles from
independent publishers and authors. It will help level the playing field for
smaller publishers and authors by providing the tools and framework to ensure
their books appear more often, more prominently, and with 24-hour availability
throughout Amazon.com's catalog of 3 million book, music, and other titles.
In March, Amazon.com launched Amazon.com Kids, a comprehensive resource
for children's and young adult books. Amazon.com Kids features a catalog of
more than 100,000 books for children, teens, and parents.
Separately, Amazon.com today announced that its Board of Directors
approved a 2-for-1 split of its common stock. Shareholders will receive an
additional share of common stock for every share held on the record date of
May 20, 1998. The additional shares will be payable on June 1, 1998.
Amazon.com, Inc., Earth's Biggest Bookstore, is the largest online
retailer of books. Amazon.com offers a catalog of more than 3 million book,
music, and other titles, plus easy-to-use search and browse features, e-mail
services, personalized shopping services, secure Web-based credit card
payment, and direct shipping to customers. Amazon.com has virtually unlimited
online shelf space and offers customers a vast selection through an efficient
search-and-retrieval interface, as well as streamlined ordering through
1-Click(SM) technology. Amazon.com pioneered the concept of syndicated
selling on the Internet and has more than 40,000 members in its Associates
Program including AOL.com, Yahoo!, Netscape, Excite, the AltaVista Search
Service, the @Home Network, the Prodigy Shopping Network, and iVillage.
This announcement contains forward-looking statements that involve risks
and uncertainties that include, among others, Amazon.com's limited operating
history, the unpredictability of its future revenues, and risks associated
with capacity constraints, management of growth, and new business
opportunities. More information about factors that potentially could affect
Amazon.com's financial results is included in the company's Annual Report on
Form 10-K for the year ended December 31, 1997, both filed with the Securities
and Exchange Commission.
NOTE: Amazon.com, Earth's Biggest Bookstore, and 1-Click are service
marks of Amazon.com, Inc. All other names are trademarks of their respective
owners.
AMAZON.COM, INC.
Statements of Operations
(in thousands, except per share amounts)
Quarter Ended March 31,
1998 1997
(Unaudited)
Net sales $87,375 $16,005
Cost of sales 68,054 12,484
Gross profit 19,321 3,521
Operating expenses:
Marketing and sales 19,503 3,906
Product development 6,729 1,575
General and administrative 1,963 1,142
Total operating expenses 28,195 6,623
Loss from operations (8,874) (3,102)
Interest income 1,640 64
Interest expense (2,025) --
Net loss $(9,259) $(3,038)
Pro forma basic and diuted loss
per share $(0.40) $(0.16)
Shares used in computation of
pro forma basic and diluted loss
per share 23,311 19,402
On April 27, 1998, the Company announced a two-for-one stock split,
effective June 1, 1998. The share and per share data have not been restated
to reflect this split.
AMAZON.COM, INC.
Balance Sheets
(in thousands, except per share data)
March 31, December 31,
1998 1997
(Unaudited) (Audited)
ASSETS
Current assets:
Cash and cash equivalents $98,600 $109,810
Short-term investments 18,220 15,256
Inventories 11,674 8,971
Prepaid expenses and other 4,399 3,298
Total current assets 132,893 137,335
Fixed assets, net 9,773 9,265
Deposits 293 166
Deferred charges 2,048 2,240
Total assets $145,007 $149,006
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $34,374 $32,697
Accrued advertising 5,349 3,454
Accrued product development -- --
Other liabilities and accrued
expenses 8,071 6,167
Current portion of debt 684 1,500
Total current liabilities 48,478 43,818
Long-term debt 76,521 76,521
Long-term lease obligations 181 181
Stockholders' equity:
Preferred stock, $0.01 par value -
Authorized, 10,000,000 shares
Issued and outstanding - none -- --
Common stock, $0.01 par value -
Authorized, 100,000,000 shares
Issued and outstanding, 24,162,932
and 23,937,169 shares, respectively 242 239
Additional paid-in capital 63,952 63,792
Deferred compensation (1,493) (1,930)
Accumulated deficit (42,874) (33,615)
Total stockholders' equity 19,827 28,486
Total liabilities and stockholders'
equity $145,007 $149,006
On April 27, 1998, the Company announced a two-for-one stock split,
effective June 1, 1998. The share and per share data have not been restated
to reflect this split.
SOURCE Amazon.com
/CONTACT: Russell Grandinetti, Investor Relations, 206-694-2171, or
ir@amazon.com, or Kay Dangaard, Media Relations, 206-694-2078, or
dangaard@amazon.com, both of Amazon.com/
/Company News On-Call: prnewswire.com or fax, 800-758-5804,
ext. 121176/ |
