Amazon.com 2001 Annual Report Download - page 30

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Item 6. Selected Consolidated Financial Data
The following selected consolidated financial data should be read in conjunction with the consolidated
financial statements and the notes thereto and the information contained herein in Item 7 of Part II,
“Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Historical results
are not necessarily indicative of future results.
As of and for the Years Ended December 31,
2001 2000 1999 1998 (1) 1997 (1)
(in thousands, except per share data)
Statements of Operations Data:
Net sales ............................. $3,122,433 $ 2,761,983 $1,639,839 $ 609,819 $147,787
Gross profit ........................... 798,558 655,777 290,645 133,664 28,818
Loss from operations .................... (412,257) (863,880) (605,755) (109,055) (32,595)
Interest income ........................ 29,103 40,821 45,451 14,053 1,901
Interest expense ........................ (139,232) (130,921) (84,566) (26,639) (326)
Net loss .............................. (567,277) (1,411,273) (719,968) (124,546) (31,020)
Basic and diluted net loss per share (2) ...... $ (1.56) $ (4.02) $ (2.20) $ (0.42) $ (0.12)
Shares used in computation of basic and
diluted net loss per share (2) ............ 364,211 350,873 326,753 296,344 260,682
Balance Sheet Data:
Cash and cash equivalents ................ $ 540,282 $ 822,435 $ 133,309 $ 71,583 $110,119
Marketable securities ................... 456,303 278,087 572,879 301,862 15,256
Total assets ........................... 1,637,547 2,135,169 2,465,850 648,460 149,844
Long-term debt ........................ 2,156,133 2,127,464 1,466,338 348,140 76,702
Stockholders’ Equity (Deficit) ............ (1,440,000) (967,251) 266,278 138,745 28,591
(1) Reflects restatement for 1998 business acquisition accounted for under the pooling-of-interests method.
(2) For further discussion of loss per share, see Notes 1 and 10 of Notes to Consolidated Financial Statements.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
This Annual Report on Form 10-K includes forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including
statements regarding industry prospects and future results of operations or financial position, made in this Annual
Report on Form 10-K are forward looking. We use words such as anticipates, believes, expects, future, intends
and similar expressions to identify forward-looking statements. Forward-looking statements reflect
management’s current expectations and are inherently uncertain. Our actual results may differ significantly from
management’s expectations. The following discussion includes forward-looking statements regarding
expectations of future pro forma operating profitability and loss, net sales, cash flows from operations and free
cash flows, all of which are inherently difficult to predict. Actual results could differ materially for a variety of
reasons, including, among others, the rate of growth of the economy in general, the Internet and online
commerce, customer spending patterns, the amount that we invest in new business opportunities and the timing
of those investments, the mix of products sold to customers, the mix of net sales derived from products as
compared with services, risks of inventory management, the degree to which we enter into, maintain and develop
relationships with third party sellers and other strategic transactions, fluctuations in the value of securities and
non-cash payments we receive in connection with such transactions, foreign currency exchange risks,
seasonality, international growth and expansion, and risks of fulfillment throughput and productivity. These risks
and uncertainties, as well as other risks and uncertainties that could cause our actual results to differ significantly
from management’s expectations, are described in greater detail in Item 1 of Part I, “Business—Additional
Factors That May Affect Future Results,” which, along with the following discussion, describes some, but not all,
of the factors that could cause actual results to differ significantly from management’s expectations.
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