Epoch Partners Issues Research Note on Amazon.com, Inc.

Research Note Highlights 1Q Results



Apr 25, 2001, 01:00 ET from Epoch Partners

    SAN FRANCISCO, Apr 25 /PRNewswire/ -- Epoch Partners today announced it
 has issued a Research Note on Amazon.com, Inc. (Nasdaq:   AMZN). The Note is
 available for free to investors through the Epoch Web site (www.epoch.com).
     The Research Note, issued by Adam Levy, Senior Research Analyst for
 Internet, discusses the current investment thesis of Amazon.com, Inc.
 Highlights from the report include the following:
 
     -- Amazon posted pro-forma EPS of ($0.21), slightly better than revised
        expectations but much narrower than expectations prior to Amazon's
        revision.
     -- The lower-than-expected operating loss offers concrete evidence that
        Amazon has begun to enjoy the efficiencies of the commerce platform it
        has built by improving its vendor relationships, increasing
        productivity, and outsourcing inventory for categories that are less
        efficient to manage internally. Amazon has made progress toward its
        goal of pro-forma operating profitability by the fourth quarter of
        2001.
     -- However, profitability will come at the expense of growth in 2001. The
        company reiterated previous revenue guidance for the year at
        20%-30% growth ($3.3 billion to $3.6 billion of sales). The forecast
        reflects a choice to focus less on sales growth and more on
        profitability.
 
     The information contained herein is based on sources believed to be
 reliable but is neither all inclusive nor guaranteed by Epoch Partners.
 Opinions, if any, reflect our judgment at this time and are subject to change.
 Epoch Partners does not undertake to advise of changes in its opinion or the
 information. Epoch Partners may perform or seek to perform investment banking
 services for the issuers of securities which are the subject of our Research.
 Most of the companies Epoch Partners follows are emerging growth companies
 whose securities typically involve a higher degree of risk and more volatility
 than the securities of more established companies. The securities discussed in
 the Epoch Partners Research may be unsuitable for investors depending on their
 specific investment objectives and financial situation and needs. No report
 included in the Epoch Partners Research is a recommendation that any
 particular investor should purchase or sell any particular security in any
 amount or at all and is not a solicitation of any offer to purchase or sell
 from or to any particular investor. For additional information that may be
 available on the securities mentioned, please contact Epoch Partners. This
 document has been published in the United States for Residents of the United
 States. Member NASD/SIPC.
     Epoch Partners is a member of the National Association of Securities
 Dealers, CRD number 103899.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88662192
 
 

SOURCE Epoch Partners
    SAN FRANCISCO, Apr 25 /PRNewswire/ -- Epoch Partners today announced it
 has issued a Research Note on Amazon.com, Inc. (Nasdaq:   AMZN). The Note is
 available for free to investors through the Epoch Web site (www.epoch.com).
     The Research Note, issued by Adam Levy, Senior Research Analyst for
 Internet, discusses the current investment thesis of Amazon.com, Inc.
 Highlights from the report include the following:
 
     -- Amazon posted pro-forma EPS of ($0.21), slightly better than revised
        expectations but much narrower than expectations prior to Amazon's
        revision.
     -- The lower-than-expected operating loss offers concrete evidence that
        Amazon has begun to enjoy the efficiencies of the commerce platform it
        has built by improving its vendor relationships, increasing
        productivity, and outsourcing inventory for categories that are less
        efficient to manage internally. Amazon has made progress toward its
        goal of pro-forma operating profitability by the fourth quarter of
        2001.
     -- However, profitability will come at the expense of growth in 2001. The
        company reiterated previous revenue guidance for the year at
        20%-30% growth ($3.3 billion to $3.6 billion of sales). The forecast
        reflects a choice to focus less on sales growth and more on
        profitability.
 
     The information contained herein is based on sources believed to be
 reliable but is neither all inclusive nor guaranteed by Epoch Partners.
 Opinions, if any, reflect our judgment at this time and are subject to change.
 Epoch Partners does not undertake to advise of changes in its opinion or the
 information. Epoch Partners may perform or seek to perform investment banking
 services for the issuers of securities which are the subject of our Research.
 Most of the companies Epoch Partners follows are emerging growth companies
 whose securities typically involve a higher degree of risk and more volatility
 than the securities of more established companies. The securities discussed in
 the Epoch Partners Research may be unsuitable for investors depending on their
 specific investment objectives and financial situation and needs. No report
 included in the Epoch Partners Research is a recommendation that any
 particular investor should purchase or sell any particular security in any
 amount or at all and is not a solicitation of any offer to purchase or sell
 from or to any particular investor. For additional information that may be
 available on the securities mentioned, please contact Epoch Partners. This
 document has been published in the United States for Residents of the United
 States. Member NASD/SIPC.
     Epoch Partners is a member of the National Association of Securities
 Dealers, CRD number 103899.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88662192
 
 SOURCE  Epoch Partners

RELATED LINKS

http://www.amazon.com