Alloy earnings surge

Cyberbiz Brief

Gen Y entertainment venture Alloy Online said Thursday it’s one step closer to recording its first profitable year in 2001. Company reported a surge in fourth quarter earnings of $42.5 million, up 151% over last year, with profits rising to $24.5 million, or a gain of 58%. Net profits, before goodwill amortization, stock-based compensation and non-cash, non-operating items was $779,000, compared to a net loss of $4 million for the same three-month period a year ago. Alloy expects to make an estimated $145 million this year. It has been reaping much of its revenues from e-commerce and sponsorship dollars from companies looking to tap into the teen market. As of January, Alloy’s database included 6.6 million names, of which 1.5 million were active online buyers. “Our strong results against a challenging economic background are testimony to our productive database, expanding relationships with major advertisers and the healthy teen market,” said Alloy Online CEO Matt Diamond.

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