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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Duper who wrote (6254)	1/26/1999 8:50:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 8307

Dear Mark: Bloomberg doesn't sound much better: Egghead.com's 3rd-Qtr Loss Widens as Revenue Declines 58% Spokane, Washington, Jan. 26 (Bloomberg) -- Egghead.com Inc., an online retailer of computer and software products, said its fiscal third-quarter loss widened as its revenue fell after the closing of its 80 stores, though Internet sales surged. The company said its net loss was $8.87 million, or 36 cents a basic share, for the period ended Dec. 26, compared with a net loss of $6.63 million, or 29 cents, in the year-earlier period. Total sales fell 58 percent to $41.9 million from $99.1 million, sales, which included $75.4 million in sales from its now-closed retail stores. Sales from its Internet sites rose 77 percent to $41.9 million from $23.7 million. Egghead.com shut its stores last year to focus on building its three Internet sites to sell computer and software-related products. During the holidays, Egghead opened its revamped Web site that integrated its three Web sites, Surplusdirect.com, Surplusauction.com and Egghead.com under one Internet address, or www.egghead.com. ''The quarter was the most significant in the development of our online business since closing the retail stores in February and repositioning the company on the Internet,'' said Egghead.com Chairman and Chief Executive George Orban in a statement. The company said its gross margin from operations fell to 8 percent from 10.6 percent in the previous quarter because of an increase in the company's aged inventory reserve and a free shipping promotion related to the introduction of the new Web site. The Spokane, Washington-based company said its registered auction bidders rose 35 percent to 326,000 as of Dec. 26 from 242,000 on Sept. 26. Shares of Egghead.com fell 3/16 to 20. Its financial results were released after the close of U.S. trading.

To: Mark Duper who wrote (6254)	1/26/1999 11:04:00 PM
From: Annette	Read Replies (2) \| Respond to of 8307

Isn't "The Street" that goofy Cramer guys site?

To: Mark Duper who wrote (6254)	1/27/1999 6:54:00 AM
From: Dorine Essey	Respond to of 8307

FOCUS-Egghead.com third-quarter loss widens, sales dip -------------------------------------------------------------------------------- (Recasts, adds comments from company spokesman) SPOKANE, Wash., Jan 26 (Reuters) - Online retailer Egghead.com Inc EGGS.O on Tuesday reported that its third-quarter loss widened from its loss in the same period a year earlier, as sales fell sharply. The company, which last year closed its physical stores, and transformed itself into an online retailer, said it lost $8.9 million or 36 cents per share in the quarter, compared with a loss of $6.6 million or 29 cents in the year-ago period. Sales fell to $41.9 million from $99 million the year before, which the company said reflected the closing of 83 physical stores over the past year, as it implemented its new online business strategy. Although total sales remained well below what the company generated a year ago, online sales increased from $23.7 million last year. "The sales decline was completely and totally related to the fact that we closed those stores," said a company spokesman. Originally, a software retailer, Egghead now offers a variety of merchandise from computer hardware to sporting goods, and is continuing to diversify its product mix. "In spite of the recent progress we have many challenges ahead of us in the next two fiscal quarters," Chairman George Orban said in a statement. "We will continue to make improvements in our technology and processes in order to provide a progressively better shopping experience." REUTERS Rtr 00:49 01-27-99