Priceline.com reports $1.3 million loss

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> <br> 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> <br> 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> <br> &#34;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,&#34; said Jeffrey H. Boyd, the company&#39;s president and chief operating officer. <br> <br> Revenue for the fourth quarter was $235.3 million, up 3 percent from $228.1 million for the same period a year ago. <br> <br> Airline tickets make up a major portion of Priceline.com&#39;s business, but the company has been diversifying. Hotel and car rental businesses are growing, Priceline.com said. <br> <br> 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> <br> 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> <br> Shares of Priceline.com were trading Monday morning on the Nasdaq at $5.80, down 52 cents or 8 percent. <br> <br> -------- <br> <br>

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