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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (41959)	5/26/1999 5:15:00 PM
From: Jenna	Respond to of 120523

beat analysts by 4 cents Fatbrain.com Announces Record Financial Results for the First Quarter.. still well off the highs. Even if it sells off or not it will probably provide some interesting trading opportunities again tomorrow. Online Revenues Increase More Than 2.5 Times and Company Experiences Strong Growth in Online Customers and Corporate Partners SUNNYVALE, Calif.--(BUSINESS WIRE)--May 26, 1999-- Fatbrain.com, Inc. (Nasdaq:FATB - news), the Internet's most comprehensive professional bookstore, today announced financial results for its first quarter of fiscal 2000, ended April 30, 1999. The Company announced record online sales of $4.5 million for the quarter, an increase of more than 2.5 times online sales of $1.8 million for the prior year period. Total Company sales (which also include sales generated by physical retail stores, trade shows and book fairs) for the quarter were $6.1 million, a 40 percent increase over total sales of $4.4 million for the same period last year. The Company reported a first quarter net loss of $5.2 million compared to a net loss of $1.7 million in the prior year period. Net loss per share for the first quarter of fiscal 2000 was $0.46 compared to pro forma net loss per share of $0.25 for the same period last year. Per share calculations for the current quarter are based on weighted average shares outstanding at April 30, 1999 of approximately 11,225,000. Pro forma per share calculations for the quarter ended April 30, 1998 are based on pro forma weighted average shares outstanding of approximately 6,749,000, which assumes conversion of all outstanding shares of preferred stock immediately upon issuance. During the quarter, the Company added more than 25,000 customers, raising the total number of customers to just over 103,000. Fatbrain.com customers represent a wide range of purchasers, from individuals to enterprise-wide purchasing managers. Online customer accounts continued to grow at a robust rate and increased 32.2 percent in the past quarter. Repeat customer orders represented more than 55 percent of orders placed during the first quarter. ''Significant increases in the amount of traffic to our site indicate that the consumer response to our new name and our new branding campaign has been excellent'' stated Chris MacAskill, president and chief executive officer. ''Our commitment to serving the online business-to-business market and the expansion of our offerings to include additional professional categories has also been favorably received. The addition of several key online accounts and partnerships during the quarter demonstrates that more and more corporations are realizing the significant time and cost benefits derived from adopting Fatbrain.com's custom e-commerce solutions.''