To: Richie who wrote (42987 ) 1/11/1999 10:53:00 AM From: Kenya AA Respond to of 97611
Hi Richie: I ESPECIALLY like this article!!! Shopping.com Announces Record Third Quarter Revenues November 10, 1998 04:47 PM CORONA DEL MAR, Calif., Nov. 10 /PRNewswire/ -- Frank W. Denny, Chairman of Shopping.com IBUY today announced that preliminary results show the company achieved record revenues for the third quarter, which ended October 31, 1998. Revenues for the quarter of $2,150,000 were up 207% over revenues of the previous quarter. Final audited figures will be releases to the public on or before December 15, 1998. "This has been a quarter of tremendous significance for Shopping.com," commented Mr. Denny. "The tremendous increase in our revenue run rate from $4.1 million annually at the end of the second quarter to $8.8 million at the end of the third quarter is comparable, if not superior, to almost any other web retailer at our stage of development. What is truly significant is how little capital it took us to accomplish such growth. I believe that the volume of up to 1500 transactions per day with an average value approximating $200 per transaction is a validation that Shopping.com is becoming a retail leader across a broad spectrum of consumer-products and validation of the unique business model our Company offer to Internet shoppers worldwide." The Company expects the holiday sales period for Internet shopper to be up significantly over last year. Commenting on the effect of the increased business, Mr. Denny said, "Our Company continues to refine its infrastructure and increase the capacity of its state-of-the-art web-management, ordering and fulfillment systems to maintain the rapid growth of sales anticipated in future quarters. We expect to offer 1,000,000 additional SKU's in the coming year." About Shopping.com Shopping.com was founded with the mission to be the dominant low-price leader on the Internet, selling brand-name consumer products every day. Shopping.com is an online retailer offering over 2 million item selections of top brand-name consumer products organized by category. Shopping.com targets both the consumer and commercial markets utilizing state-of-the-art proprietary systems technology. Shopping.com offers internet shoppers products, ranging from computers, books and office products to CDs, with low prices and fast delivery using direct vendor shipping, secure on-line payment protection, and customer-friendly check-out services, to provide a user-friendly web shopping experience. Based in Corona del Mar, CA, Shopping.com has recently opened European offices in the Netherlands. Visit Shopping.com's website at www.shopping.com. PRESS CONTACT Bender, Goldman & Helper 310/473-4147