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January 27, 2010

Amazon Q4 net sales up 42% to $9.52bn

Reports 75% surge in operating income to $476m

By CBR Staff Writer

Amazon has reported net sales of $9.52bn in the fourth quarter of 2009, an increase of 42% compared with $6.7bn in the same quarter of 2008. Excluding the $354m favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 37% compared with fourth quarter 2008.

Operating income increased 75% to $476m in the fourth quarter, compared to $272m in the same quarter of 2008. Excluding the $31m favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, operating income would have grown 63% compared to fourth quarter 2008.

For the quarter, net income increased 71% to $384m, or $0.85 per diluted share, compared to $225m, or $0.52 per diluted share, in the same period a year ago.

North America segment sales, representing the company’s US and Canadian sites, were $4.96bn, up 36%, compared to $3.63bn from the fourth quarter of 2008. International segment sales, representing the company’s UK, German, Japanese, French and Chinese sites, were $4.56bn, up 49%, compared to $3.07bn from the prior year quarter.

For the full year 2009, the company reported net sales of $24.51bn, an increase of 28%, compared to $19.17bn in 2008. Operating income increased 34% to $1.13bn from $842m in 2008. Net income rose 40% to $902m from $645m.

Jeff Bezos, founder and CEO of Amazon.com, said: “Millions of people now own Kindles. And Kindle owners read, a lot. When we have both editions, we sell 6 Kindle books for every 10 physical books. This is year-to-date and includes only paid books – free Kindle books would make the number even higher. It’s been an exciting 27 months.”

The company anticipates net sales for the first quarter of 2010 to be in between $6.45bn and $7bn, or to grow between 32% and 43% compared to first quarter of 2009. Operating income is expected to be between $275m and $365m, or to grow between 13% and 50% compared with first quarter 2009.

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