Troy Wolverton

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Amazon's Shares Float Higher as Revenue Flows In

01/24/03 - 02:31 PM EST

Troy Wolverton

Amazon's overall bottom line benefited from a $5 million restructuring gain in the quarter. The gain resulted from a termination agreement signed during the quarter with the landlord for one of the company's shuttered distribution centers. Amazon closed its distribution center in Georgia as part of a restructuring announced in 2001.

Conversely, the company's bottom line was negatively affected by the company's increasing stock price and the decline of the dollar vs. the euro. The increasing stock price led to a $31 million stock-based compensation charge related to a stock-option swap in 2001. Meanwhile, the decline of the dollar led to a $38 million charge related to the company's euro-denominated debt.




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Troy Wolverton



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