Amazon.com Sees 4Q Sales Up 40% From Year Ago, but Shy of Estimates

Amazon.com(AMZN Quote - Cramer on AMZN - Stock Picks) expects net sales for the fourth quarter to exceed $960 million, an increase of more than 40% from the same period a year ago, but that estimate would fall short of analysts' projections.

The online book and music retailer reported revenue of $676 million in the fourth quarter of 1999. The company expects gross profits for the fourth quarter to total $210 million, an increase of more than 140% from the prior year.

Amazon didn't provide a specific bottom line forecast, but the company said the "pro forma operating loss for the fourth quarter of 2000 is expected to be less than 7% of net sales, compared to a pro forma operating loss of 26% of net sales in the fourth quarter of 1999."

Wall Street expects Amazon to lose 26 cents a share for the fourth quarter, with sales of just more than $1 billion, according to First Call/Thomson Financial.

Amazon.com expects to release fourth-quarter results after the market closes on Jan. 30.