Wed May 3 ADTM Adatom.com Signs Product Fulfillment Agreement With BuyersEdge, Inc. - Business Wire
Mon May 1 ADTM Adatom.com Signs Agreement With Premier Chinese Agricultural Center - Business Wire
Fri Apr 28 ADTM Adatom.com CEO, Richard Barton Catches the Eye of Wall Street - Business Wire
Wed Apr 26 ADTM Adatom.com Introduces Version 2.0 of E-Commerce Solution Program - Business Wire
Mon Apr 24 ADTM Adatom.com Forms Partnership With New Multimedia Marketing Company - Business Wire
Adatom.com Reports Strong Sales Gains for 1999
Stage is Set for Accelerating Internet Expansion
MILPITAS, Calif.--(BUSINESS WIRE)--March 30, 2000--Adatom.com, Inc. (Nasdaq:ADTM - news) today reported a gain of 229.7% in its revenues for the year ended December 31,1999.
For the 12 months of 1999, revenues advanced to $956,000 from $290,000 in 1998. Most of that growth occurred in the fourth quarter 1999. After going public on October 13, 1999, Adatom achieved revenues of $474,000 on sales of $744,652 during the fourth quarter 1999, with over $200,000 of unshipped orders going into the first quarter of 2000. More significantly was the Company's quarter-to-quarter sequential growth. The fourth quarter versus third quarter 1999 results represented growth increases of 347% in orders, 108% in user sessions and 75.1% in conversion rate (user sessions divided by orders). Fourth quarter versus third quarter revenue increased by 114.3% on a sales increase of 148.9%.
Of the loss from operations in 1999, $8.5 million of the $12.7 million is attributable to common stock and stock options issued in connection with the merger. The remaining $4.1 million in expenses are comparable to the 1998 loss of $1.2 million. The increased costs were used to add staffing required to position Adatom.com to be more competitive, launch the AESP business-to-business offering, and consummate the negotiations for a joint venture program with the China Product Trade Net Center (CPTNC). Additionally Adatom.com invested in a sharply focused advertising campaign in the fourth quarter 1999. The loss per share was $1.83 in 1999 versus $0.23 in 1998.
CEO Richard Barton said, ``Adatom.com achieved its primary goals of 1999. They were to become a publicly traded company with access to equity markets, put in place the staffing and processes to make Adatom.com a viable and competitive e-tailer, and make substantial sales and order growth over 1998.'' In what has almost become a cliche for Silicon Valley, four guys meet at the Sloan Fellowship program at Stanford and with their own capital develop a company that in the five months since becoming a publicly traded company announce an international trading deal with the CPTNC in China, raise $4 million, and launch a robust B to B offering in their Adatom.com E-Commerce Solution Program (AESP).
``Most importantly, the advances and investments we have made to date have set the stage for accelerating expansion in the business-to-business as well as the business-to-consumer markets in 2000 and beyond,'' Mr. Barton continued. ``Early this year we launched our AESP offering, a turnkey solution that provides 'instant' e-commerce capabilities, including back-end fulfillment, web site development and a full scale e-commerce infrastructure. While we are just starting to build the ESP revenue stream, we expect that this will become a substantial part of our business in the years ahead. We plan to continue to make substantial investments in both our consumer and business-to-business operations to take advantage of the fast growing e-commerce and Internet services and solutions marketplaces here and abroad.
``Our primary goal is to become a one-of-a-kind Internet company. Last week, we took an important step towards that goal when we announced that Adatom.com has signed an exclusive joint venture agreement with the China Product Trade Net Center (CPTNC). This joint venture will form a pioneering U.S.-China 'electronic marketplace,' that covers both consumer and industrial goods and aims to use Internet technology as its primary information and distribution medium,'' he concluded.
Adatom and the CPTNC are establishing a joint venture company located in Beijing, China, to work directly with the CPTNC. The joint venture company will develop and implement the systems, Internet applications, services and support to enable the marketing and sale of industrial and consumer goods produced in China into the U.S. as well as goods produced in the U.S. into the Chinese marketplace exclusively through Adatom.com, Inc.
About Adatom.com, Inc.
Adatom.com is a fast growing e-commerce company. By leveraging its proprietary e-commerce infrastructure and efficient distribution system, the Company reaches both the business-to-business market with E-Commerce Solution Program (ESP) and the business-to-consumer market with its Internet superstore, www.adatom.com. Benefits from both its business-to-business and business-to-consumer capabilities provide price savings and increased customer service for consumers. Adatom.com offers a comprehensive product mix of name brand products for the individual, the home, and the office in 29 product categories. Recently, the Company signed an exclusive joint venture agreement with the China Product Trade Net Center (CPTNC). The scope of this agreement includes the establishment of an electronic business-to-business and business-to-consumer marketing, selling and distribution system accessible in both Chinese and English with back-end factory quality and level of service standards.
