To: Banjo who wrote (30080 ) 3/29/1999 9:09:00 PM From: Jenna Respond to of 120523
COOL reports after the close. our earnings play $-0.34 instead of $-0.39.. looks good, we'll see. Cyberian Outpost Reports Fiscal 1999 Fourth Quarter and Year-End Financial Results COOL Net Sales Increase 310% in Fourth Quarter 276% Growth Over Previous Fiscal Year KENT, Conn., March 29 /PRNewswire/ -- Cyberian Outpost, Inc. (Nasdaq: COOL - news), a leading, global Internet retailer of computer hardware, software and accessories through its Web site, Outpost.com, today announced financial results for the fourth quarter and fiscal year ended February 28, 1999. Net sales for the fourth quarter were $33.1 million, an increase of approximately 310% over net sales of $8.1 million for the same quarter last year, and a sequential increase of 41% over the third quarter ended November 30, 1998. The Company reported a fourth quarter net loss of $7.8 million, or a pro forma basic and diluted net loss per share of $0.34, compared with a net loss of $4.5 million, or a pro forma basic and diluted net loss per share of $0.48, for the same quarter last year. Net sales for the fiscal year ended February 28, 1999 were $85.2 million, up 276% from $22.7 million reported last year. Outpost.com reported net loss for the twelve-month period ended February 28, 1999 of $25.2 million, or a pro forma basic and diluted net loss per share of $1.24, compared with a net loss of $7.1 million, or a pro forma basic and diluted net loss per share of $0.86, for fiscal year 1998. Outpost.com achieved solid customer growth, ending the fourth quarter with approximately 280,000 customers in over 150 countries, an increase of 33% over the third quarter of fiscal year 1999. Purchases from existing customers remained very strong, with repeat buyers accounting for approximately 45% of net sales in the fourth quarter. ''This past year has been an exciting one for Outpost.com,'' commented Darryl Peck, Chief Executive Officer of Cyberian Outpost. ''We took the Company public in July and continue to be one of the fastest growing e-commerce companies. Our customer base has increased more than three-fold to 280,000 in February, up from 81,000 the year prior, and our revenues have nearly quadrupled to over $85 million. We have continued to attract new customers over the past year, while our percentage of repeat business is a tribute to our loyal existing base. The growth in our affiliate network has also helped increase our exposure dramatically.'' Mr. Peck continued, ''Looking forward into fiscal 2000, we will continue to focus on our key strategy of providing superior service and comprehensive product selection, in addition to extending service offerings to our customers, such as the recently announced OutpostAuctions site. We will also utilize targeted marketing and promotional activities to continue building our brand equity and positioning Outpost.com as a premier global Internet retailer.'' Recent Highlights