February 3, 2005, 12:00 AM

Amazon’s sales up 31% for year, net income up 17-fold

Amazon.com’s sales grew 31% in 2004 to $6.92 billion from $5.26 billion a year ago, the company reported. Excluding a $276 million benefit from foreign exchange rates, net sales were up 26%. Net income reached $588 million vs. $35 million a year ago.

 

Amazon.com Inc.’s sales grew 31% in 2004 to $6.92 billion from $5.26 billion a year ago, the company reported. Excluding a $276 million benefit from foreign exchange rates, net sales were up 26%. Net income reached $588 million vs. $35 million a year ago.

Operating cash flow was $567 million for 2004, compared with $392 million for 2003. Free cash flow grew 38% to $477 million for 2004, compared with $346 million for 2003.

Net sales were $2.54 billion in the fourth quarter, up 31% from $1.95 billion in fourth quarter 2003. Q4 net income reached $347 million up from $73 million in Q4 a year ago.

Among highlights that Amazon reported were:

• U.S. and Canadian sales were $1.39 billion, up 22% from fourth quarter 2003. Operating income increased to $122 million from $114 million, compared with fourth quarter 2003.
• North America Media (books, music, videos) growth was 18% in the fourth quarter, driven in part by continued price reductions, including an increase in the discount on books over $15 from 30% to 32%, and books over $25 from 32% to 34%.
• International sales, representing U.K., German, French, Japanese, and Chinese sites, were $1.15 billion, up 43% from Q4 2003. Excluding the benefit from exchange rates, net sales growth was 33%. International operating income increased to $55 million from $39 million in Q4 2003.
• International sales accounted for 44% of worldwide net sales in 2004, up from 38% in 2003. Shipments to 225 countries outside the U.S. accounted for 49% of worldwide shipments in 2004, up from 43% in 2003.
• Electronics & Other General Merchandise sales grew 53% to $1.69 billion for 2004, representing 24% of worldwide net sales.

 

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