eToys 3Q loss widens

January 27, 2000: 5:40 a.m. ET

Online toy retailer sales nearly 5 times a year earlier; loss matches estimates

NEW YORK (CNNfn) - eToys, the online toy retailer, Thursday reported a wider fiscal third-quarter loss that was in line with analysts' forecasts.
    The Santa Monica, Calif.-based e-commerce site operator said its loss before special items was $62.5 million, or 52 cents a diluted share, up from $8.2 million, or 9 cents, a year earlier. The results for the quarter ended Dec. 31 were in line with the consensus of analysts surveyed by First Call.
    Including extraordinary charges, the company's net loss grew to $75.5 million, or 63 cents a share, from $9.8 million, or 11 cents, a year earlier.
    Sales were nearly five times higher for the period, which includes the year-end holiday season, at $106.8 million.
    For the nine months, the company lost $141.2 million, or $1.26 a share, up from $15.4 million, or 19 cents, a year earlier. Sales expanded to $128 million from $23.9 million.
    The company also announced it will accelerate plans to develop its own distribution facilities, and not rely on outside vendors for order fulfillment.
    eToys (ETYS) shares rose 1-15/16 to 21-1/4 in Wednesday's trading.