UPDATED: Amazon AMZN sales up 35 percent in Fourth Quarter 2011

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(Best Syndication News) - Amazon.com (NASDAQ:AMZN) announced their 2011 fourth quarter sales were up 35 percent in 2011 compared to the same time the previous year. The company said that Amazon Kindle sales almost tripled during the holiday season. The company had a decrease in their net income for the fourth quarter and for the entire year.

Their net sales totaled $17.43 billion during 2011 in the fourth quarter. In 2010, during the same time, sales were $12.95 billion. However, net income decreased during the fourth quarter in 2011 compared to 2010. In the fourth quarter of 2011, the net income was $177 million with 38 cents per diluted share compared to $416 million in net income for the same period of 2010, with 91 cents per diluted share. This was a 58 percent decrease in net income.

Amazon.com also announced the 2011 full year net sales of $48.08 billion which was a 41 percent increase compared to $34.30 billion in 2010. With adjustments for foreign exchange rates, the increase would have been 37 percent from 2010 to 2011.

Net income from 2011 was $631 million, which was $1.37 per diluted share. The 45 percent decrease was compared to 2010 numbers, which had net income of $1.15 billion or $2.53 per dilute share.

Amazon.com anticipates net sales for first quarter of 2012 to be between $12.0 billion and $13.4 billion, which is a growth forecast of 22 percent to 36 percent increase, compared to 2011 quarter one numbers. However, they are also expecting a operating income loss of $(200) and $100 million.

Amazon.com (NASDAQ:AMZN) stock closed today at $194.44 per share, which was up $2.29 (+1.19 percent). However, the after-hours trading had the shares trading at $177.50, which was a drop of -$16.94 (-8.71 %).

By: Dave Reddy

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