Fourth quarter sales at Amazon.com Inc. reached $1.12 billion, up 15% from $972 million in the fourth quarter of 2000, Amazon reported today. The company further reported that it has reached pro forma profitability on an operating basis and on a net basis. Q4 was the first quarter in which Amazon has exceeded $1 billion in sales.
Pro forma operating profit was $59 million, compared with a loss of $60 million in the fourth quarter of 2000. Pro forma net profit for the fourth quarter of 2001 was $35 million compared with a pro forma net loss of $90 million in the fourth quarter of 2000. On a GAAP basis, Amazon recorded a fourth quarter 2001 net profit of $5 million compared with a fourth quarter 2000 net loss of $545 million.
For the year, net sales reached a record $3.12 billion, a 13% increase over the previous year. Fiscal 2001 pro forma operating loss was $45 million, an improvement of more than $270 million. Annualized inventory turns improved 38% to 25 in fourth quarter 2001, up from 18. Pro forma operating losses from Amazon`s international sites declined by 76% to $11 million, or 4% of international net sales in fourth quarter 2001. Cash and marketable securities were approximately $1 billion at December 31, 2001.
International segment sales across Amazon`s UK, Germany, France and Japan sites grew 81%. Including sales from the U.S. site, more than 29% of Amazon`s sales were to international customers. In addition, Amazon reported that its operations for the UK and German sites had a combined pro forma operating profit for the fourth quarter 2001, three years after launch.
Amazon is expecting that first quarter net sales will be $775 million to $825 million, growth of 11% to 18%, and that full year sales will increase 10%.