eTrade 2001 Annual Report Download - page 99
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•
changes in pricing policies by us or our competitors,
•
fluctuation in foreign exchange rates, and
•
changes in the level of operating expenses to support projected growth.
We have also experienced fluctuations in the average number of customer transactions per day. Thus, the rate of growth in customer
transactions at any given time is not necessarily indicative of future transaction activity.
We have incurred losses in the past and we cannot assure you that we will be profitable
We have a long history of incurring operating losses in each fiscal year and we may incur operating losses in the future. We reported
net income (losses) of $(241.5) million in fiscal 2001, $1.4 million in the three months ended December 31, 2000, $19.2 million in
fiscal 2000 and $(56.8) million in fiscal 1999. Although we achieved profitability in fiscal 2000 due in part to sales of investment
securities, we cannot assure you that profitability will be achieved in future periods.
The market price of our common stock may continue to be volatile which could cause litigation against us and the inability of
shareowners to resell their shares at or above the prices at which they acquired them
From January 1, 2001 through December 31, 2001, the price per share of our common stock has ranged from a high of $15.38 to a low
of $4.07. The market price of our common stock has been, and is likely to
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continue to be, highly volatile and subject to wide fluctuations due to various factors, many of which may be beyond our control,
including:
•
quarterly variations in operating results,
•
volatility in the stock market,
2002. EDGAR Online, Inc.