Auctionbytes-NewsFlash, Number 690 - January 28, 2004 - ISSN 1539-5065      Previous Story | | Next Story

By Ina Steiner
AuctionBytes.com
January 28, 2004
Reading AuctionBytes: Amazon.com Releases Financial Results for Fourth Quarter and 2003

Amazon.com announced financial results for its fourth quarter and year ended December 31, 2003. Net sales were $1.946 billion in the fourth quarter, up 36% from fourth quarter 2002. Net income was $73 million in the fourth quarter.

For the year 2003, net sales were $5.264 billion, up 34% from 2002. Net income was $35 million in 2003, compared with a net loss of $149 million in 2002. Amazon.com also announced that its Board of Directors authorized a debt repurchase program, and it will redeem $150 million in principal amount of its outstanding 4.75% Convertible Subordinated Notes due 2009 at a redemption price of 102.375%, plus accrued and unpaid interest from February 1 through February 25, 2004.