Amazon.com Announces Second Quarter Sales up 51% to $9.91 Billion
Highlights
Sales growth of Kindle devices accelerated in second quarter 2011 compared to first quarter 2011.
Amazon.com announced the launch of Kindle Textbook Rental, offering students savings of up to 80% off textbook list prices.
The U.S. Kindle Store now has more than 950,000 books, including New Releases and 110 of 111 New York Times Bestsellers. Over 800,000 of these books are $9.99 or less, including 65 New York Times Bestsellers. Millions of free, out-of-copyright, pre-1923 books are also available to read on Kindle.
Amazon.com announced that customers will be able to stream TV shows from CBS’s vast library.
The Company announced three enhancements to Amazon Cloud Drive and Cloud Player: storage plans that include unlimited space for music, free storage for all Amazon MP3 purchases and Cloud Player for Web, now on iPad.
Amazon announced that Marketplace sellers can list their products across all its European websites using just one single seller account, allowing sellers to make their inventory available across Amazon.co.uk, Amazon.de, Amazon.fr and Amazon.it.
International segment sales, representing the Company’s U.K., German, Japanese, French, Chinese and Italian sites, were $4.51 billion, up 51% from second quarter 2010. Excluding the favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, sales grew 36%.
Worldwide Media sales grew 27% to $3.66 billion. Excluding the favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, sales grew 20%.
Worldwide Electronics and Other General Merchandise sales grew 69% to $5.89 billion. Excluding the favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, sales grew 62%.
Amazon Web Services (AWS) and SAP announced that AWS has been certified as a global technology partner of SAP.
AWS announced the availability of Amazon Relational Database Service (RDS) for Oracle databases, allowing customers to easily set up, operate and scale fully managed Oracle databases in the cloud.
AWS lowered prices for the fifteenth time in four years by eliminating inbound Internet data transfer costs and reducing outbound data transfer costs.
Amazon.com, Inc. (NASDAQ:AMZN) announced financial results for its second quarter ended June 30, 2011.
Operating cash flow increased 25% to $3.21 billion for the trailing twelve months, compared with $2.56billion for the trailing twelve months ended June 30, 2010. Free cash flow decreased 8% to $1.83 billion for the trailing twelve months, compared with $1.99 billion for the trailing twelve months ended June 30, 2010.
Common shares outstanding plus shares underlying stock-based awards totaled 468 million on June 30, 2011, compared with 465 million a year ago.
Net sales increased 51% to $9.91 billion in the second quarter, compared with $6.57 billion in second quarter 2010. Excluding the $477 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 44% compared with second quarter 2010.
Operating income was $201 million in the second quarter, compared with $270 million in second quarter 2010. The favorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $28 million.
Net income decreased 8% to $191 million in the second quarter, or $0.41 per diluted share, compared with net income of $207 million, or $0.45 per diluted share, in second quarter 2010. Second quarter 2011 net income was positively impacted by equity-method investment activity of $15 million, including a $49 million gain on the sale of an equity position partially offset by $34 million in losses from equity-method investments.
“Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we’ve seen in over a decade,” said Jeff Bezos, founder and CEO of Amazon.com. “Kindle 3G with Special Offers has quickly become our bestselling Kindle at only $139. Customers love the convenience of a 3G reader — no hunting for or paying for Wi-Fi hotspots. Amazon picks up the tab for the 3G wireless, so you have no monthly payments or annual contracts.”
Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth’s Biggest Selection.
Amazon.com, Inc. seeks to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.
More about AMZN at www.amazon.com
Insmed Incorporated (Nasdaq:INSM) will host a conference call on Monday, August 8th, 2011, at 8:30 AM ET, to discuss its financial results for the second quarter of 2011. Insmed intends to issue its quarterly financial results press release before the market opens on August 8th. To participate in the live conference call, please dial 800-901-5247 (U.S. callers) or 617-786-4501 (international), and provide passcode 14391743. A live webcast of the call will also be available at http://phx.corporate-ir.net/playerlink.zhtml?c=122332&s=wm&e=4160458. Please allow extra time prior to the webcast to register, download and install any necessary audio software. The webcast will be archived for 30 days, and a telephone replay of the call will be available for seven days, beginning at 11:30 AM ET on August 8th, at 888-286-8010 (U.S. callers) or 617-801-6888 (international), using passcode 57316274.
Insmed Incorporated, a biopharmaceutical company, focuses on the development of inhaled pharmaceuticals for the site-specific treatment of serious lung diseases.
icad Inc. (Nasdaq:ICAD) announced that the Company is releasing financial results for the three and six months ended June 30, 2011, following the close of the market on Wednesday, July 27, 2011. Ken Ferry, President and Chief Executive Officer, and Kevin C. Burns, Executive Vice President and Chief Financial Officer, will host a conference call for investors beginning at 10:00 a.m. Eastern time on Thursday, July 28, 2011 to discuss the second quarter 2011 financial results and to answer questions. Shareholders and other interested parties may participate in the conference call by dialing 888-396-2298 (domestic) or 617-847-8708 (international) and entering passcode 32070191 a few minutes before 10:00 a.m. ET on Wednesday, May 4, 2011. The call will also be broadcast live on the Internet at www.streetevents.com, www.fulldisclosure.com and www.icadmed.com.
iCAD, Inc. provides image analysis and workflow solutions that enable radiologists and other healthcare professionals to identify pathologies and pinpoint cancer earlier.
Cleantech Transit, Inc. (CLNO)
Biomass energy can be transformed into other forms of fuel. Ethanol from agricultural crops such as sugar cane and methane from manure and sewage are examples of indirect use. Biomass energy in the forms of gas can occur spontaneously, as marsh gas, or landfill gas for example, but alcohols do not. Agricultural wastes or manures undergo certain processes first.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
The technology used by Phoenix Energy to turn your waste from industry agriculture and forestry into power has many environmental benefits. At Phoenix Energy they are deeply committed to their customers both in reducing their costs of operation and in helping them be good corporate citizens, having a positive impact on the environment. By installing their wood waste gasification systems their customers help to:
o Reduce greenhouse gas emissions.
o Reduce the amount of toxic pollutants in the atmosphere.
o Save landfill space from taking up more of their landscape and Reduce groundwater
Contaminants.
o Improve energy security and reduce dependence on foreign sources of energy.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Westell Technologies Inc. (Nasdaq:WSTL) announced results for its fiscal 2012 first quarter ended June 30, 2011. Consolidated revenue for the quarter was $34.4 million, down from $41.3 million in the fiscal first quarter of the prior year. Most of the revenue decrease resulted from the sale of certain assets of the Company’s Customer Networking Solutions (CNS) division early in the quarter. Net income during the quarter was $21.1 million, or $0.30 per diluted share, compared to net income of $4.6 million, or $0.07 per diluted share, in the same quarter of the prior year.
Westell Technologies, Inc., through its subsidiaries, engages in the design, distribution, marketing, and servicing a range of broadband, digital transmission, remote monitoring, power distribution, and demarcation products used by telephone companies and other telecommunications service providers.
Ocean Shore Holding Co. (Nasdaq:OSHC) announced net income of $1,158,000, or $0.17 per diluted share, for the quarter ended June 30, 2011, as compared to $1,239,000, or $0.18 per diluted share, for the second quarter of 2010. Net income for the six months ended June 30, 2011 was $2,362,000, or $0.35 per diluted share, as compared to $2,575,000, or $0.38 per diluted share, for the same period in 2010. Results reflect after tax expenses of $155,000 during the second quarter and $244,000 for the first six months of 2011 associated with the pending acquisition of CBHC Financialcorp, Inc and its subsidiary Select Bank, compared to no activity during the same periods in 2010. The acquisition is expected to close on August 1, 2011.
Ocean Shore Holding Co. operates as the holding company for Ocean City Home Bank that provides retail banking services to consumers and businesses in New Jersey.
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