Alloy cuts its loss

Nov 29, 2001 10:30 PM  By

Alloy Lessens Loss New York–Generation Y marketer Alloy (Nasdaq: ALOY) shaved off $7 million in losses for the quarter ended Oct. 31. Alloy reported a net loss of $2.7 million, significantly less than the $9.7 million net loss it posted last year. Total revenue increased 58%, to $44.5 million, compared to $28.1 million last year. Net merchandise revenue increased 31%, to $31.8 million year.

“We expect fourth quarter revenue to be in the range of $60 million to $62 million, with net merchandise revenue of $43 million to $45 million and sponsorship and other revenue of $15 million to $17 million,” said Matt Diamond, chairman/CEO in a statement. “We expect fourth quarter pro forma income to be between $6.4 million and $6.6 million, resulting in full year fiscal 2001 pro forma income of $2.0 million to $2.2 million.”