NORWALK, Conn. - Priceline.com, the name-your-own-price Internet company, reported a fourth-quarter net loss of $1.3 million Monday, far smaller than the same period a year ago despite a weakened airline industry. <br>
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The loss of one penny per share for the October-December period compared to a loss of $105 million, or 62 cents per year, for the fourth quarter a year earlier. <br>
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Excluding one-time gains and losses, Norwalk-based Priceline.com reported a pro-forma profit of $3.3 million, or 1 cent per share. That beat the consensus estimate of analysts surveyed by Thomson Financial/First Call by one penny. <br>
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"Priceline performed well in the fourth quarter, achieving year-over-year growth in revenue and pro forma earnings, despite continued weakness in airline retail pricing and, consequently, in our airline ticket bind rate," said Jeffrey H. Boyd, the company's president and chief operating officer. <br>
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Revenue for the fourth quarter was $235.3 million, up 3 percent from $228.1 million for the same period a year ago. <br>
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Airline tickets make up a major portion of Priceline.com's business, but the company has been diversifying. Hotel and car rental businesses are growing, Priceline.com said. <br>
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For the year, Priceline.com reported a net loss of $15.8 million, or 8 cents per share, on revenue of $1.17 billion. That compared with a net loss of $329.5 million, or $1.97 per share, on revenue of $1.23 billion for 2000. <br>
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For the first quarter this year, Priceline.com said it expects pro forma profits of 0 cents to 2 cents per share and revenue between $260 million and $290 million. For the year, the company said it is comfortable with median First Call estimates of pro forma profits of 12 cents per share. <br>
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Shares of Priceline.com were trading Monday morning on the Nasdaq at $5.80, down 52 cents or 8 percent. <br>
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