1 February 2008
Amazon chief financial officer Thomas Szkutak has given the world an insight into the company's plans for the coming year.
In 2008, you know, we're going to do more of what we did in 2007,
he said. Unsurprisingly, Amazon is intending to increase its sales, again:
We're going to make sure we have great prices across all our categories and geographies, as was reflected in our 2007 final quarter results.
In the quarter ending December 31, 2007, Szkutak announced, Amazon's net sales hit $5.67billion, a 42% increase from the fourth quarter of 2006. Even if you ignore the $0.20billion boost that came courtesy of fortuitous foreign exchange rates, sales increased a full 37%. This translates to a massive 112% profit increase, from $98million in the fourth quarter of 2006 to $207million in the final quarter of 2007.
2007 as a whole saw net sales increased 39% to $14.84billion, and net income climbed a giant 150% to $476million. This was the company's fastest annual growth rate since 2000. In 2008, the company expects net sales of between $18.75billion and $19.75billion. This would provide an increase of between 26% and 33%.
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