Online bookseller Amazon.com Inc. reported a net loss of $22.2 million for the quarter ended Dec. 31, up from a net loss of $10.8 million in the fourth quarter of 1997.
The Seattle-based company posted net sales of $252.9 million for the quarter ended Dec. 31, a 283% increase over net sales of $66 million for the fourth quarter of 1997.
Amazon also reported a fourth quarter operating loss of $17.8 million, or 7% of net sales, compared to an operating loss of $11.3 million, or 17% of net sales, in the same period the year before.
For the year 1998, the net loss for was $74.4 million, more than double 1997’s net loss of $31 million.
Net sales for fiscal 1998 were $610 million, a 313% increase over $147.8 million reported for fiscal 1997.
Company officials attributed these losses to merger and acquisition costs.
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