Amazon.com Inc., trimmed its net loss from $234.1 million in first-quarter 2001 to $23.2 million in the quarter just ended. Its revenue rose from $700.4 million to $847.4 million. The quarter ended March 31.
Much of its loss came from interest payments on its debt. On an operating basis, the company made $1.8 million, compared with a $216.6 million loss a year ago. While Amazon reduced expenses across the board, most of the savings came from cuts in goodwill amortization and restructuring-related costs.
The company also held its fulfillment costs to 10.6% of net sales, compared with 14% a year ago. Amazon made $89 million in shipping revenue, up from $82 million in first-quarter 2001.
Within its U.S. retail market, Amazon’s Books, Music and DVD/Video segment generated $443 million, and had operating income of $46.4 million. Its Electronics, Tools and Kitchen segment had net sales of $126.2 million, and took an operating loss of $20.8 million.
Its International business reported $225.5 million in sales, with an operating loss of $11.2 million, and its services division generated $52.7 million, and operating income of $10.3 million.
During the quarter, Amazon reported 26.2 million active customer accounts, up from 20.5 million a year ago. While net sales per active account slipped from $135 a year ago to $122, its marketing costs per active account fell as well, from $8.60 to $5.10.
At $2.15 billion, the company’s long-term debt is at virtually the same level it was a year ago.
Amazon also announced that effective immediately, all books over $15 would be entitled to a 30% discount. Previously, the 30% discount was applied to books costing more than $20.
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