Alloy Reports $9.2M Loss for Q1
Generation Y marketer Alloy Inc., New York, yesterday reported a ballooning net loss for the first quarter of fiscal 2004, reaching $9.2 million compared with a net loss of $400,000 last year.The company also said it registered a $4.3 million loss before interest and other income/expense, income taxes, depreciation and amortization, stock-based compensation expense and restructuring charges. This represented a shift from earnings of $2.2 million last year.
Operating expenses were $49.8 million compared with $32.5 million last year. Expenses related to acquiring Delia's Corp. accounted for part of the increase. However, also reported was a 27 percent rise in total revenue to $87.8 million.
Also, first-quarter net merchandise revenue jumped 48 percent to $44.3 million. The increase resulted from the Delia's acquisition, which offset an overall decline in revenue for Alloy's catalog titles. Fiscal first-quarter sponsorship and other revenues of $43.6 million were up 10 percent over last year.
