Styleclick, Inc. Announces First Quarter 2001 Results

Apr 23, 2001, 01:00 ET from Styleclick, Inc.

    LOS ANGELES, April 23 /PRNewswire Interactive News Release/ --
 Styleclick, Inc. (Nasdaq:   IBUY), a provider of e-commerce services and
 technologies, today reported results for the first quarter ended March 31,
 2001.
     Sales for the first quarter 2001 were $4,019,000 compared to $4,753,000 in
 the fourth quarter 2000.
     Excluding an inventory write-down of approximately $2,000,000, gross
 margins improved to a negative margin of ($506,000) compared to ($584,000) in
 the prior quarter.
     Excluding charges related to goodwill and one-time charges related to
 employee termination expenses, write-off of capitalized software and write-off
 of deferred advertising and promotion, operating expenses would have been
 $9,084,000 and $9,234,000 in the first quarter and fourth quarters,
 respectively.  Operating expenses decreased to $12,514,000 from $168,998,000
 in the fourth quarter.
     Net loss including merger-related goodwill decreased to $14,809,000 or
 $0.48 per share in the first quarter from a loss of $169,276,000 or $5.46 per
 share in the prior quarter.  EBITDA (earnings before interest, taxes,
 depreciation and amortization), excluding goodwill and write-off of
 capitalized software costs, increased by 27% to ($10,436,000) from
 ($8,246,000) in the prior quarter.  Excluding one-time charges related to
 inventory and employee termination expenses EBITDA would have decreased to
 ($7,952,000).
     The Company ended the quarter with a cash position of approximately
 $10.9 million.  In addition, the Company recently announced the inception of a
 $15 million, 18-month revolving credit line, being made available by
 Styleclick's majority-owner, USA Networks, Inc.  Styleclick's ability to
 borrow under the credit line will be subject to approval by Styleclick's Board
 of Directors.
 
     Conference Call Open To The Public
     Executives from Styleclick will hold a conference call to discuss the
 Company's first quarter financial results today at 4:30 p.m. EDT.  All members
 of the public and the investment community are invited to listen to the call.
 Those parties in the United States and Canada interested in listening to the
 telephone conference should call toll free 1-800-662-8177 or listen on the Web
 at www.vcall.com.  Other international parties should call 1-706-645-9643.
 Replays of the conference call will begin approximately two hours after its
 completion and will run until 9:00 p.m. EDT on April 30, 2001.  To hear the
 replay, the US/Canada participants should call 800-642-1687 or for
 International/Local participants, call 706-645-9291 and enter the Conference
 ID number 737386#.  An online replay of the conference call will be available
 at www.vcall.com.
 
 
      Operation Highlights (Unaudited)
                                      In thousands, except for per share data
                                        First Quarter         Fourth Quarter
                                        Ended March 31,     Ended December 31,
                                             2001                   2000
 
     Net sales                               $4,019                $4,753
     Cost of sales                            6,525                 5,337
     Gross profit                            (2,506)                 (584)
     Operating expenses excluding
      goodwill amortization                  12,417                 9,234
     Amortization of goodwill                    97               159,764
     Total operating expenses                12,514               168,998
     Loss from operations                  $(15,020)            $(169,582)
     Net loss                              $(14,809)            $(169,276)
     Weighted average common shares
      outstanding                        31,029,251            31,012,479
     Loss per share - basic                 $(0.48)                $(5.46)
     EBITDA                                $(10,436)              $(8,246)
     EBITDA excluding one-time items        $(7,952)              $(8,246)
 
 
     About Styleclick, Inc.
     Styleclick, Inc. provides e-commerce technologies and services enabling
 brands to sell online.  The Company's end-to-end offerings include Web design,
 development and hosting, CRM-driven database capabilities, product imaging,
 online sales and merchandising technologies, inventory management and
 integrated back-end fulfillment and customer care.  Styleclick is the
 outsourcing partner of choice for a variety of entertainment, sports,
 publishing, home furnishings, and style businesses.  A majority-owned
 subsidiary of USA Networks, Inc., Styleclick operates as part of USA
 Information and Services (USAIS), which coordinates the efforts of USAi's
 businesses engaged in various forms of transactional interactivity.
 
     For further information, please contact: investor relations, Gail Laguna,
 323-403-1000, glaguna@styleclick.com, or media, Bonnie Poindexter,
 323-403-1052, bpoindexter@styleclick.com, both of Styleclick, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X57116163
 
 

SOURCE Styleclick, Inc.
    LOS ANGELES, April 23 /PRNewswire Interactive News Release/ --
 Styleclick, Inc. (Nasdaq:   IBUY), a provider of e-commerce services and
 technologies, today reported results for the first quarter ended March 31,
 2001.
     Sales for the first quarter 2001 were $4,019,000 compared to $4,753,000 in
 the fourth quarter 2000.
     Excluding an inventory write-down of approximately $2,000,000, gross
 margins improved to a negative margin of ($506,000) compared to ($584,000) in
 the prior quarter.
     Excluding charges related to goodwill and one-time charges related to
 employee termination expenses, write-off of capitalized software and write-off
 of deferred advertising and promotion, operating expenses would have been
 $9,084,000 and $9,234,000 in the first quarter and fourth quarters,
 respectively.  Operating expenses decreased to $12,514,000 from $168,998,000
 in the fourth quarter.
     Net loss including merger-related goodwill decreased to $14,809,000 or
 $0.48 per share in the first quarter from a loss of $169,276,000 or $5.46 per
 share in the prior quarter.  EBITDA (earnings before interest, taxes,
 depreciation and amortization), excluding goodwill and write-off of
 capitalized software costs, increased by 27% to ($10,436,000) from
 ($8,246,000) in the prior quarter.  Excluding one-time charges related to
 inventory and employee termination expenses EBITDA would have decreased to
 ($7,952,000).
     The Company ended the quarter with a cash position of approximately
 $10.9 million.  In addition, the Company recently announced the inception of a
 $15 million, 18-month revolving credit line, being made available by
 Styleclick's majority-owner, USA Networks, Inc.  Styleclick's ability to
 borrow under the credit line will be subject to approval by Styleclick's Board
 of Directors.
 
     Conference Call Open To The Public
     Executives from Styleclick will hold a conference call to discuss the
 Company's first quarter financial results today at 4:30 p.m. EDT.  All members
 of the public and the investment community are invited to listen to the call.
 Those parties in the United States and Canada interested in listening to the
 telephone conference should call toll free 1-800-662-8177 or listen on the Web
 at www.vcall.com.  Other international parties should call 1-706-645-9643.
 Replays of the conference call will begin approximately two hours after its
 completion and will run until 9:00 p.m. EDT on April 30, 2001.  To hear the
 replay, the US/Canada participants should call 800-642-1687 or for
 International/Local participants, call 706-645-9291 and enter the Conference
 ID number 737386#.  An online replay of the conference call will be available
 at www.vcall.com.
 
 
      Operation Highlights (Unaudited)
                                      In thousands, except for per share data
                                        First Quarter         Fourth Quarter
                                        Ended March 31,     Ended December 31,
                                             2001                   2000
 
     Net sales                               $4,019                $4,753
     Cost of sales                            6,525                 5,337
     Gross profit                            (2,506)                 (584)
     Operating expenses excluding
      goodwill amortization                  12,417                 9,234
     Amortization of goodwill                    97               159,764
     Total operating expenses                12,514               168,998
     Loss from operations                  $(15,020)            $(169,582)
     Net loss                              $(14,809)            $(169,276)
     Weighted average common shares
      outstanding                        31,029,251            31,012,479
     Loss per share - basic                 $(0.48)                $(5.46)
     EBITDA                                $(10,436)              $(8,246)
     EBITDA excluding one-time items        $(7,952)              $(8,246)
 
 
     About Styleclick, Inc.
     Styleclick, Inc. provides e-commerce technologies and services enabling
 brands to sell online.  The Company's end-to-end offerings include Web design,
 development and hosting, CRM-driven database capabilities, product imaging,
 online sales and merchandising technologies, inventory management and
 integrated back-end fulfillment and customer care.  Styleclick is the
 outsourcing partner of choice for a variety of entertainment, sports,
 publishing, home furnishings, and style businesses.  A majority-owned
 subsidiary of USA Networks, Inc., Styleclick operates as part of USA
 Information and Services (USAIS), which coordinates the efforts of USAi's
 businesses engaged in various forms of transactional interactivity.
 
     For further information, please contact: investor relations, Gail Laguna,
 323-403-1000, glaguna@styleclick.com, or media, Bonnie Poindexter,
 323-403-1052, bpoindexter@styleclick.com, both of Styleclick, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X57116163
 
 SOURCE  Styleclick, Inc.