Fatbrain.com posted a smaller-than-expected loss in its fourth quarter Wednesday, losing $10 million, or 79 cents a share, on sales of $11.9 million.
First Call consensus expected it to lose 82 cents a share in the quarter.
Its shares closed off 1 7/8 to 15 3/4 ahead of the earnings report.
The $11.9 million in sales marks a 122 percent jump from the year-ago quarter when it lost $3.4 million, or 37 cents a share, on sales of $5.3 million.
For the year, Fatbrain.com (Nasdaq: FATB) lost $30.3 million, or $2.61 a share, on sales of $35.3 million, a 79 percent improvement from fiscal 1998 when it lost $9.9 million, or $2.87 a share, on sales of $19.8 million.
"With our business-to-business solutions accounting for the lion's share of our revenues, we're expanding our focus on B2B to provide a comprehensive outsourcing solution," said CEO Dennis Capovilla in a prepared release. "We believe that our new information exchange solutions will allow us to address a greater market opportunity and to augment our successful B2B expertise with higher margin generating services."
Last quarter, Fatbrain.com lost $9.1 million, or 80 cents a share, on sales of $8.2 million.
Fatbrain.com shares moved up to a 52-week high of 42 1/4 in November after falling to a low of 11 5/8 in August.
Five of the six analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.
First Call consensus expects it to lose $3.82 a share in fiscal 2000.