Xenothon (xenothon) wrote in onlygoodnews,

Amazon experiences better-than-expected quarterly profit

"This year was our eighth holiday, and in terms of customer experience it was the best ever," Amazon Chief Executive Jeff Bezos told analysts in a conference call.

Bezos said that Amazon also achieved one of its main objectives for 2002 -- to become cash flow positive.

Free cash flow, which includes cash outflows for interest and capital expenditures but excludes proceeds from stock-options, was $135 million for 2002, compared with negative $170 million for 2001, Amazon said.

For the first quarter of 2003, Amazon said it expects pro forma net profit of between $5 million, or 1 cent per share, and $20 million, or 5 cents per share.

Source: http://www.foxnews.com/story/0,2933,76433,00.html
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