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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (6746)	10/20/1998 9:52:00 PM
From: Panita	Read Replies (2) \| Respond to of 119973

Nikkei moving up 4%. This plus IBM, MSFT , + CA better than expected earnings will give a further lift to US markets. At least for a little longer.

To: TokyoMex who wrote (6746)	10/20/1998 10:17:00 PM
From: ayahuasca	Read Replies (1) \| Respond to of 119973

EGGS bad earnings ,, good lord ,, we got out at 9 ,, But why? I was as wrong as can be about EGGS today but I just cant agree with this statement. EGGS is a company in transition and what is important and impressive with EGGS their internet revenue growth. I like this earnings report and think (hope) that the rest of the investment community sees what I think is glaringly obvious. EGGS is taking their first steps toward being a presence on the internet. If they continue to be successful they will never see the like of these prices again. Egghead.com Same Quarter Sales Increase 73%, Exceed $35 Million; Company Prepares for Further Growth SPOKANE, Wash.--(BUSINESS WIRE)--Oct. 20, 1998--Egghead.com, Inc. (Nasdaq:EGGS), today released financial results for the fiscal 1999 second quarter ended September 26, 1998. The company's total revenues were $35.1 million, a 73 percent increase from the proforma ongoing revenue of $20.2 million for the comparable period last year and a 19 percent increase over revenues of $29.5 million for the quarter ended June 27, 1998. Egghead.com Chairman and CEO George Orban said, "While growing our business we made substantial investments to consolidate and integrate our web sites on a common Oracle technology platform. We are already experiencing benefits from this effort which over the long term is designed to enable us to increase merchandise revenues, improve the management of gross margin, expand into new product categories, add revenue from advertising, and lower our operating expense ratios. This developmental effort is key to launching our new web site and off-line marketing program in November." Egghead's sites, in the aggregate, ranked 8th among at-home and at-work visitors respectively, when compared to all shopping sites on the web, according to Media Metrix, a leading independent market research firm. During the quarter Egghead.com's registered auction bidders increased 44 percent from 168,000 to 242,000. The company's e-mail customer database expanded 14 percent from 2.0 million to 2.3 million and the number of visitors to its web sites exceeded 20 million, consistent with the prior quarter. Further, Egghead.com entered into marketing agreements with AOL, Netscape, Microsoft, ZDNet, CNET's Shopper.com and ebay.com and also selectively canceled certain on-line agreements. "Egghead.com's long-term strategy is to create a major value- oriented on-line retail enterprise," Orban added. "We were also pleased to announce during the quarter that C. Scott Gibson, Robert T. Wall and Karen White, all individuals with substantial industry experience, joined our board of directors." Financial Results The company's total revenues were $35.1 million, a 73 percent increase from the proforma ongoing revenue of $20.2 million for the same period in fiscal 1998. Proforma ongoing revenues for the same period in fiscal 1998 exclude retail store revenue of $50.7 million attributable to retail stores closed February 28, 1998 and include revenues of $7.6 million attributable to Surplus Direct for the period prior to its acquisition. Total revenues for the six months ended September 26,1998 were $64.6 million, a 67 percent increase from the proforma ongoing revenue of $38.6 million for the same period in fiscal 1998. Proforma ongoing revenues exclude retail store revenue of $102.7 million for closed stores and include revenues of $21.9 million attributable to Surplus Direct for the period prior to its acquisition. Gross margin from ongoing operations was 10.6 percent for the second quarter of fiscal 1999, an increase of 20 basis points from the first quarter of fiscal 1999. Operating expenses for the quarter, excluding depreciation and amortization of $0.9 million declined $5.1 million from the comparable period in fiscal 1998. Management attributed the improvement to the elimination of retail store operations expense of $7.3 million and the reduction in administrative and corporate expense of $1.2 million, offset by an increase in ongoing operations selling and marketing expenses of $3.5 million. The second quarter pre-tax loss from ongoing operations was $7.2 million, or $0.30 per share compared to $4.9 million or $0.24 per share for the comparable period last year. The six month pretax loss from ongoing operations was $12.7 million compared to $8.6 million for the prior year comparable period. The company's cash position was $59.5 million as of September 26, 1998.