Amazon.com Announces Financial Results for Second Quarter 2000.Business/High-Tech Editors SEATTLE--(BUSINESS WIRE)--July 26, 2000 U.S. Books, Music and DVD/Video Segment Achieves Pro Forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma Operating Profitability; Over 23 Million Cumulative Customers Served in Five Years; Cash Balance at $908 Million Amazon.com (Amazon.com, Seattle, WA, www.amazon.com) The largest online shopping site and one of the most widely known e-commerce sites on the Web. Founded by Jeff Bezos in 1995, it had 11 employees by year's end. Within four years, it had more than 1,600 employees and four million customers. , Inc. (Nasdaq:AMZN AMZN Amazon.com (NASDAQ symbol) ) today announced that net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the second quarter of 2000 were $578 million, an increase of 84% over net sales of $314 million for the second quarter of 1999. The Amazon Amazon, in Greek mythology Amazon (ăm`əzŏn), in Greek mythology, one of a tribe of warlike women who lived in Asia Minor. Electronics store, launched in July July: see month. 1999, became Amazon.com's fastest-growing store yet. Pro forma operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for the second quarter of 2000 was $89 million, or 15% of sales, compared to a pro forma operating loss of $67 million, or 21% of sales, in the second quarter of 1999. Second-quarter pro forma net loss was $0.33 per share, compared with a pro forma net loss of $0.26 per share in the second quarter of 1999. Amazon.com's U.S. Books, Music and DVD/Video segment pro forma operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. was $10 million. Cumulative customer accounts increased by 2.5 million during the second quarter to more than 22.5 million as of June 30, 2000, and now stand at over 23 million. Repeat customer orders represented 78% of orders in the second quarter, up from 70% the previous year. Trailing 12-month sales per customer who purchased during the 12 months ended June 30, 2000, was $125, up from $108 for the same period a year ago. Total sales outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , including exports from the U.S., were 23% of sales in the second quarter. Amazon.co.uk and Amazon.de sales were $73 million, up 134% from $31 million for the second quarter of 1999. The two sites added more than 500,000 new customer accounts in the second quarter of 2000, bringing their total customer accounts to more than 3 million, up from about 800,000 as of June 30, 1999. "Our vision remains being Earth's most customer-centric company, the best place for customers to find and discover anything they want to buy online," said Jeff Bezos Jeffrey Preston Bezos (born January 12, 1964 , Albuquerque ) is the founder, president, chief executive officer, and chairman of the board of Amazon.com. Bezos, a Phi Beta Kappa graduate of Princeton University, worked as a financial analyst for D. E. Shaw & Co. , Amazon.com founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "While we continue to see improvements in all of our businesses, we are especially pleased with the profitability in our U.S. Books, Music and Video group and the unusual growth in our Electronics store. For the company as a whole, we're well on our way to achieving our 2000 objectives." "We are pleased to report strong year-over-year growth in revenue, gross margin and operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: improvement, U.S. Books, Music and DVD/Video segment pro forma operating profitability, and a cash balance of $908 million," said Warren Jenson, Amazon.com chief financial officer. "Looking ahead, we continue to expect pro forma operating losses in the single digits as a percentage of sales by the fourth quarter of this year and strong year-over-year sales growth. In addition we expect to end the year with roughly $1 billion in cash." In July, a worldwide total of 410,000 copies of Harry Potter A potter is someone who makes pottery. Potter may also refer to: People
Amazon.com's overall fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. expenses, which comprise distribution center costs, customer service costs and net credit card fees, were $88 million, or 15% of sales in the second quarter. A live Webcast of the company's second quarter 2000 financial results conference call can be heard at 5:00 p.m. EDT/2:00 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT today at www.amazon.com/ir. The call will also be archived and available until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links 30, 2000. RECENT HIGHLIGHTS Branded Platform -- Amazon.com celebrated its five-year anniversary this month with over 23 million cumulative customers. -- The World's Most Valuable Brands 2000, Interbrand's annual survey, valued the Amazon.com brand as the 48th most valuable brand in the world, up from 57th in 1999. -- The Amazon Tools and Hardware, Toys, Video/DVD, Music, Books and Home Living stores were named the overall top stores in their respective categories in the most recent Gomez Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Scorecard and/or Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
-- Amazon.com partnered with Stephen King <noinclude></noinclude>
Stephen Edwin King (born September 21, 1947) is an American author of over 200 stories including over 50 bestselling horror and to provide online payment services for downloading downloading - download installments of The Plant, a new episodic episodic sporadic; occurring in episodes. e. falling a paroxymal disorder described in Cavalier King Charles spaniels in which affected dogs, starting at an early age, experience episodes of extensor rigidity, possibly brought on by stress. e. novel that can be found at www.amazon.com/stephenking. Global Expansion -- Amazon Anywhere, Amazon.com's mobile e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. initiative, extended beyond Amazon.com and Amazon.co.uk to provide easy access to Amazon.de using the Wireless Application Protocol. The global Amazon Anywhere initiative underscores Amazon.com's commitment to enhancing the customer buying experience with the convenience, safety and speed of state-of-the-art wireless commerce. -- According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the MMXI MMXI Media Metrix Europe May 2000 European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Audience Ratings Report, the Amazon.co.uk, Amazon.de and Amazon.com sites were the top three online retail sites based on reach. -- Within the past month, Amazon.co.uk added Software and Video Games stores and Amazon.de added a Video Games See video game console. store. Expanded Selection and Partnerships -- Amazon.com launched the Amazon Kitchen store (www.amazon.com/kitchen), featuring thousands of culinary cu·li·nar·y adj. Of or relating to a kitchen or to cookery. [Latin cul  n
products and accessories alongside in-depth editorial content, including original product reviews, recipes, and cooking and entertaining tips. -- Amazon.com launched a Home Living store, providing Amazon.com customers direct access to living.com from the top of Amazon.com's welcome page. Home Living visitors can shop for furniture, decorative accessories, bed and bath linens Noun 1. bath linen - linens for use in the bathroom bath mat - a heavy towel or mat to stand on while drying yourself after a bath bath towel - a large towel; to dry yourself after a bath linen - white goods or clothing made with linen cloth , lighting and rugs. -- Amazon.com introduced the Amazon.com NextCard Visa, offering no annual fee and the ability to purchase both online and offline while earning reward points that can be redeemed re·deem tr.v. re·deemed, re·deem·ing, re·deems 1. To recover ownership of by paying a specified sum. 2. To pay off (a promissory note, for example). 3. for Amazon.com gift certificates. -- Amazon.com announced the availability of more than 22,000 hours of spoken audio content from Audible A protected MP3 file format from the Audible.com audio download service. See Audible.com. , Inc. Located within the Amazon bookstore, the new audible.com Audio Downloads Store is the only place Amazon.com customers can find more than 4,700 audiobooks plus a vast array of comedy, audio newspapers, magazines, speeches, lectures, language lessons, motivational programs, business information and subscriptions to public radio programs. -- Amazon Books added Spanish Language Spanish language, member of the Romance group of the Italic subfamily of the Indo-European family of languages (see Romance languages). The official language of Spain and 19 Latin American nations, Spanish is spoken as a first language by about 330 million persons , Large Print and Gay & Lesbian stores within the Amazon bookstore. -- Amazon Music, the No. 1 online music retailer, added several new areas to its store, including Bargain Music, Music Accessories and Classical for Beginners, and it opened the Music Lovers Lounge, which features exclusive live streaming concerts, artist spotlights, interviews, digital downloads  The perspective and/or examples in this article do not represent a world-wide view. Please [ edit] this page to improve its geographical balance. and
discussion boards. -- Amazon.com entered into an agreement with Hewlett-Packard to be Amazon.com's primary Internet infrastructure provider and become an anchor tenant in the Amazon Electronics store, providing Amazon.com's customers with an even more extensive selection of HP products. -- The Amazon Electronics store also added Handspring hand·spring n. A gymnastic feat in which the body is flipped completely forward or backward from an upright position, landing first on the hands and then on the feet. Visor An electronic PDA originally from Handspring, Mountain View, CA (www.handspring.com) that was introduced in 1999 by the people who invented and marketed the PalmPilot. Based on the Palm OS, it was the first handheld to use the USB interface. handheld computers A computing device that can be easily held in one hand while the other hand is used to operate it. The Palm devices are a popular example. See Palm, smartphone and palmtop. to its ever-growing electronics selection. Handspring appointed Amazon Electronics as the exclusive online reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. for its Visor and Visor Deluxe The Handspring Visor Deluxe is one of the Visor family of PDAs produced by Handspring, Inc. between 1999 and 2004. Visor Deluxe used Palm OS 3.1H running on a 16MHz DragonBall processor, a modified version of the OS from Palm that included an enhanced datebook, a city time handheld computers through July 2000. -- Amazon.com's DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. store, the largest online retailer of DVDs, has become the top retailer (online or offline) for pre-order sales of many of the industry's top DVDs, including the highly anticipated August 29 Braveheart DVD release, with over 26,000 units ordered to date. -- Amazon zShops introduced new storefront features that offer sellers custom browse (1) To view the contents of a file or a group of files. Browser programs generally let you view data by scrolling through the documents or databases. In a database program, the browse mode often lets you edit the data. See Web browser. , search, featured items, merchant photos and business description functionality. About Amazon.com Amazon.com (Amazon.com, Inc., and its subsidiaries) is the Internet's No. 1 music, No. 1 DVD and video, and No. 1 book retailer. Amazon.com (Nasdaq:AMZN) opened its virtual doors on the World Wide Web in July 1995 and today offers Earth's Biggest Selection, along with online auctions and free electronic greeting cards See e-card. . Amazon.com seeks to be the world's most customer-centric company, where customers can find and discover anything they may want to buy online. Amazon.com lists more than 18 million unique items in categories including books, CDs, toys, electronics, videos, DVDs, tools and hardware, lawn and patio patio In Spanish and Latin American architecture, a courtyard open to the sky within a building. A Spanish development of the Roman atrium, it is comparable to the Italian cortile but provides more seclusion, possibly due to Moorish custom. The patio of the contemporary U.S. items, kitchen products, software, and video games. Through Amazon.com zShops, any business or individual can sell virtually anything to Amazon.com's more than 23 million customers, and with Amazon.com Payments, sellers can accept credit card transactions, avoiding the hassles of offline payments. The company also participates in sothebys.amazon.com, the leading auction site for guaranteed art, jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. , and collectibles, at www.sothebys.amazon.com. Amazon.com operates two international Web sites: www.amazon.co.uk and www.amazon.de. It also operates the Internet Movie Database (www.imdb.com), the Web's comprehensive and authoritative source of information on more than 220,000 movies and entertainment programs and 800,000 cast and crew members dating from the birth of film in 1892 to 2003. Amazon Anywhere is the leader in mobile e-commerce, providing access from anywhere in the world to Amazon.com, Amazon.co.uk, and Amazon.de on personal digital assistants (PDAs) and through handheld wireless Internet devices that use HDML (Handheld Device Markup Language) A specialized version of HTML designed to enable wireless pagers, cellphones and other handheld devices to obtain information from Web pages. HDML was developed by Phone. or the Wireless Application Protocol. Amazon.com has invested in leading Internet retailers that are improving the lives of customers by making shopping easier and more convenient: Greenlight.com, the only company that offers car buyers the control of auto purchasing online with ongoing service and support from local dealerships, at www.greenlight.com; living.com, the leading online home products and services retailer, at www.living.com; drugstore.com, an online retail and information source for health, beauty, wellness, personal care and pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. , at www.drugstore.com; Pets.com, the online leader for pet products, expert information, and services, at www.pets.com; HomeGrocer.com, the first fully integrated Internet grocery-shopping and home-delivery service--with operations in Seattle; Portland, Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. ; and Southern California--at www.homegrocer.com; Gear.com, which offers brand-name sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport at prices from 20 to 90 percent off retail, at www.gear.com; Ashford.com, the leading Internet retailer of luxury and premium products and the Web's No. 1 retailer of watches and jewelry, at www.ashford.com; Audible, Inc., the leader in Internet-delivered spoken audio for PC-based listening or playback Playback could mean:
n. Variant of handicraft. tr.v. hand·craft·ed, hand·craft·ing, hand·crafts To fashion or make by hand. hand·craft products from around the world, at www.eziba.com; and WineShopper.com, the San Francisco- and Napa-based Internet start-up Start-up The earliest stage of a new business venture. that will ultimately offer consumers online access to the largest selection of wines available anywhere, at www.wineshopper.com. Amazon.com also has a minority interest in WeddingChannel.com, which brings together leading retailers with gift registry The configuration database in all 32-bit versions of Windows that contains settings for the hardware and software in the PC it is installed in. The Registry is made up of the SYSTEM.DAT and USER.DAT files. Many settings previously stored in the WIN.INI and SYSTEM. , expert advice, and personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. gift suggestions to help everyone give and receive the right wedding gifts, at www.weddingchannel.com; NextCard, Inc., considered the industry's leading issuer of consumer credit on the Internet, at www.nextcard.com; and Kozmo.com, the world's leading "e-mmediate" Internet-to-door delivery service, at www.kozmo.com. Historical results of operations are preliminary and unaudited. This press release also contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements regarding expectations of future sales, pro forma operating losses and cash, all of which are inherently difficult to predict. Actual results could differ materially for a variety of reasons, including the rate of growth of the Internet and online commerce, the amount that Amazon.com invests in new business opportunities and the timing of those investments, customer spending patterns, the mix of products sold to customers, the mix of revenues derived from products sales as compared to services, risks of inventory management, the magnitude of losses arising from investments accounted for under the equity method, the degree to which the company enters into Amazon Commerce Network (ACN ACN Accenture (stock symbol) ACN Accenture ACN Australian Company Number ACN Automatic Collision Notification (US DOT) ACN Acetonitrile ACN Anglican Communion Network ) and other strategic transactions, fluctuations in the value of securities and non-cash payments Amazon.com receives in connection with such transactions, and risks of distribution and fulfillment throughput The speed with which a computer processes data. It is a combination of internal processing speed, peripheral speeds (I/O) and the efficiency of the operating system and other system software all working together. 1. and productivity. Other risks and uncertainties include Amazon.com's limited operating history, anticipated losses, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risks associated with distribution center expansion, adverse consequences arising from system interruptions, risks associated with management of potential growth, risks related to auction and zShops services, risks related to fraud and Amazon.com Payments, and risks of new business areas, international expansion, business combinations, and strategic alliances. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999, and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2000. Note on Financial Presentation Financial results are prepared in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with U.S. generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting . Pro forma financial results exclude amortization of goodwill and other intangibles, equity in losses of equity-method investees, stock-based compensation costs, and merger-, acquisition- and investment-related costs. Customer accounts exclude users of the ACN and catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. businesses but include users of Amazon marketplace Amazon Marketplace ( i.e:Third-party Marketplace ) is Amazon.com's fixed-price online marketplace that allows sellers to survey their goods alongside Amazon's offerings. Buyers can buy new and used items sold directly by a third party through Amazon. services. Trailing 12-month sales per customer figures include revenue recorded from ACN partners and exclude catalog sales and catalog customers.
AMAZON.COM, INC.
Statements of Operations
(in thousands, except per share data)
(unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
--------------------------- ------------------------
2000 1999 2000 1999
----------- -------------- ----------- -----------
Net sales $ 577,876 $ 314,377 $ 1,151,765 $ 608,019
Cost of sales 441,812 246,846 887,567 475,696
----------- ----------- ----------- -----------
Gross profit 136,064 67,531 264,198 132,323
Operating expenses:
Marketing, sales
and fulfillment 129,813 86,165 269,924 146,883
Technology and
content 67,132 34,149 128,376 57,552
General and
administrative 28,468 14,469 54,513 25,712
Stock-based
compensation 8,166 4,669 21,818 4,780
Amortization of
goodwill and
other intangibles 80,413 37,150 163,368 58,050
Merger, acquisition
and investment-related
costs 2,449 3,809 4,468 4,208
----------- ----------- ----------- -----------
Total operating
expenses 316,441 180,411 642,467 297,185
----------- ----------- ----------- -----------
Loss from operations (180,377) (112,880) (378,269) (164,862)
Interest income 10,314 12,860 20,440 23,780
Interest expense (33,397) (28,320) (61,018) (44,954)
Other expense, net (3,272) (74) (8,046) (122)
----------- ----------- ----------- -----------
Net interest
expense and
other (26,355) (15,534) (48,624) (21,296)
----------- ----------- ----------- -----------
Loss before equity in
losses of equity-method
investees (206,732) (128,414) (426,893) (186,158)
Equity in losses of
equity-method
investees (110,452) (9,594) (198,716) (13,517)
----------- ----------- ----------- -----------
Net loss $ (317,184) $ (138,008) $ (625,609) $ (199,675)
=========== =========== =========== ===========
Basic and diluted
loss per share $ (0.91) $ (0.43) $ (1.80) $ (0.63)
=========== =========== =========== ===========
Shares used in
computation of basic
and diluted loss
per share (Note 1) 349,886 322,340 346,885 318,106
=========== =========== =========== ===========
Pro Forma Results (Note 2 )
Pro forma loss
from operations $ (89,349) $ (67,252) $ (188,615) $ (97,824)
=========== =========== =========== ===========
Pro forma net loss $ (115,704) $ (82,786) $ (237,239) $ (119,120)
=========== =========== =========== ===========
Pro forma basic and
diluted loss
per share $ (0.33) $ (0.26) $ (0.68) $ (0.37)
=========== =========== =========== ===========
Shares used in
computation of
pro forma basic
and diluted loss
per share (Note 1) 349,886 322,340 346,885 318,106
=========== =========== =========== ===========
Note 1: The Company effected a three-for-one stock split and
two-for-one stock split on January 4, 1999 and September 1, 1999,
respectively. Each stock split was in the form of a stock dividend
to stockholders of record on December 18, 1998 and August 12, 1999,
respectively. Accordingly, the accompanying balance sheets and
statements of operations have been restated to reflect the splits.
Note 2: Pro forma results for the 3-month and 6-month periods
ended June 30, 2000 and 1999 are presented for informational purposes
only and are not prepared in accordance with generally accepted
accounting principles. These results present the operating results of
Amazon.com, excluding charges of $201.5 million and $55.2 million for
the 3-month periods, and $388.4 million and $80.6 million for the
6-month periods ended June 30, 2000 and 1999, respectively, related to
amortization of goodwill and other intangible assets, equity in losses
of equity-method investees, stock-based compensation and merger,
acquisition and investment-related costs.
AMAZON.COM, INC.
Balance Sheets
(in thousands, except per share data)
(unaudited)
JUNE 30, DECEMBER 31,
2000 1999
--------------- -------------
ASSETS
Current assets:
Cash and cash equivalents $ 720,377 $ 116,962
Marketable securities 187,244 589,226
Inventories 172,360 220,646
Prepaid expenses and other
current assets 86,659 85,344
--------------- ---------------
Total current assets 1,166,640 1,012,178
Fixed assets, net 344,042 317,613
Goodwill, net 441,240 534,699
Other purchased intangibles,
net 155,538 195,445
Investments in equity-method
investees 211,715 226,727
Other investments 88,261 144,735
Deferred charges and other 53,294 40,154
--------------- ---------------
Total assets $ 2,460,730 $ 2,471,551
=============== ===============
LIABILITIES AND
STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 286,239 $ 463,026
Accrued expenses and
other current liabilities 146,874 181,909
Unearned revenue 115,566 54,790
Interest payable 41,213 24,888
Current portion of long-term
debt and other 17,731 14,322
--------------- ---------------
Total current liabilities 607,623 738,935
Long-term debt 2,131,531 1,466,338
Commitments and
contingencies
Stockholders' equity (deficit):
Preferred stock, $0.01 par value:
Authorized shares -- 500,000
Issued and outstanding shares -- none - -
Common stock, $0.01 par value:
Authorized shares -- 5,000,000
Issued and outstanding
shares -- 355,400 and 345,155
shares at June 30, 2000 and
December 31, 1999, respectively 3,554 3,452
Additional paid-in capital 1,335,733 1,194,369
Stock-based compensation (25,410) (47,806)
Accumulated other comprehensive loss (84,664) (1,709)
Accumulated deficit (1,507,637) (882,028)
--------------- ---------------
Total stockholders' equity
(deficit) (278,424) 266,278
--------------- ---------------
Total liabilities and
stockholders' equity $ 2,460,730 $ 2,471,551
(deficit) =============== ===============
Note 1: The Company effected a three-for-one stock split and
two-for-one stock split on January 4, 1999 and September 1, 1999,
respectively. Each stock split was in the form of a stock dividend to
stockholders of record on December 18, 1998 and August 12, 1999,
respectively. Accordingly, the accompanying balance sheets and
statements of operations have been restated to reflect the splits.
AMAZON.COM, INC.
Segment Information
(in thousands)
(unaudited)
Three Months Ended June 30, 2000
--------------------------------------
--------------------------------------
US Books, Early-Stage
Music and Businesses Consol-
DVD/Video Intl And Other idated
Net sales $ 385,275 $ 73,393 $ 119,208 $ 577,876
Gross profit 86,862 16,286 32,916 136,064
Proforma Operating
Income (Loss) by Segment 10,056 (34,503) (64,902) (89,349)
Other operating expenses -- -- -- (91,028)
Net interest expense
and other -- -- -- (26,355)
Equity in losses of
equity-method investees -- -- -- (110,452)
-------- -------- -------- ---------
Net loss -- -- -- $ (317,184)
Three Months Ended June 30, 1999
--------------------------------------
--------------------------------------
US Books, Early-Stage
Music and Businesses Consol-
DVD/Video Intl And Other idated
Net sales $ 279,593 $ 31,345 $ 3,439 $ 314,377
Gross profit 61,680 6,575 (724) 67,531
Proforma Operating
Income (Loss) by Segment (11,147) (16,034) (40,071) (67,252)
Other operating expenses -- -- -- (45,628)
Net interest expense
and other -- -- -- (15,534)
Equity in losses of
equity-method investees -- -- -- (9,594)
-------- ------- ------- --------
Net loss -- -- -- $ (138,008)
Six Months Ended June 30, 2000
--------------------------------------
--------------------------------------
US Books, Early-Stage
Music and Businesses Consol-
DVD/Video Intl And Other idated
Net sales $ 786,689 $ 148,525 $ 216,551 $1,151,765
Gross profit 169,716 32,323 62,159 264,198
Proforma Operating
Income (Loss) by Segment 7,630 (61,949) (134,296) (188,615)
Other operating expenses -- -- -- (189,654)
Net interest expense
and other -- -- -- (48,624)
Equity in losses of
equity-method investees -- -- -- (198,716)
-------- -------- -------- ---------
Net loss -- -- -- $ (625,609)
===========
Six Months Ended June 30, 1999
--------------------------------------
--------------------------------------
US Books, Early-Stage
Music and Businesses Consol-
DVD/Video Intl And Other idated
Net sales $ 547,114 $ 57,064 $ 3,841 $ 608,019
Gross profit 120,946 11,732 (355) 132,323
Proforma Operating
Income (Loss) by Segment (14,264) (30,287) (53,273) (97,824)
Other operating expenses -- -- -- (67,038)
Net interest expense
and other -- -- -- (21,296)
Equity in losses of
equity-method investees -- -- -- (13,517)
------- ------- -------- ---------
Net loss -- -- -- $ (199,675)
===========
Note 1: The Company identifies operating segments based on product
line information, considering line maturity, within the United States
and separately identifies its international operations as an operating
segment.
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