Cyberian Outpost expects jump in revenues
The e-tailer of computer hardware, software, and accessories says it is likely to post a four-fold increase in total revenues for the fourth quarter of fiscal 1999.
For the fourth quarter that ended February 28, the company is expecting to reach about $33 million in revenues, a 40 percent increase compared to $8.1 million reported for the year ago quarter.
Still, the company's net results will depend largely on operating costs. Earlier, Cyberian posted a narrower-than-expected loss for its quarter ended in November as spending on merchandising systems and advertising were offset by surging Net sales.
Cyberian expects to report audited results for these periods during the first week of April 1999.
"[These results] are a product of our continued success in attracting new customers to Outpost.com and our proven ability to deliver top notch customer service, both domestically and around the globe," said Cyberian Outpost CEO Darryl Peck.
The company said it saw the number of customers grow 33 percent in the last quarter, with a total of 280,000 customers at the end of February 1999, an addition of approximately 70,000 customers since the last quarter.
Cyberian closed yesterday at 16.13, well off its 52 week high of 45.5. The stock has a hit a low of 5.94 since it began trading last July.