Netflix(NFLX) - 500 Beiträge pro Seite

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Profile:Netflix, Inc. is an online entertainment subscription service in the United States that provides more than 600,000 subscribers access to a comprehensive library of more than 11,500 movie, television and other filmed entertainment titles. The Company`s standard subscription plan allows subscribers to have three titles out at the same time with no due dates, late fees or shipping charges. Subscribers can view as many titles as they want in a month. Subscribers select titles at the Company`s Website (www.netflix.com) aided by its proprietary CineMatch technology, receive them on DVD by first-class mail and return them to the Company at their convenience using its prepaid mailers. Once a title has been returned, the Company mails the next available title in a subscriber`s queue.

http://www.netflix.com

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Monday July 1, 8:49 pm Eastern Time
Reuters Internet Report
DVD Renter Netflix Says Doubles User Base

LOS GATOS, Calif. (Reuters) - Netflix Inc. (NasdaqNM:NFLX - News) which rents DVD videos through its Web site and recently sold shares to the public, said on Monday that it more than doubled subscribers in the second quarter from a year earlier.
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The Los Gatos, California-based firm, which compete with conventional movie rental stores by allowing users to pick DVD videos, receive and return them through the mail, said it had 670,000 total subscribers at the end of the quarter ending in June compared to 308,000 in the same period a year earlier.

Compared with the first quarter, Netflix said the number of subscribers rose 11 percent.

Netflix, which sold its shares in an initial public offering in May, closed Nasdaq trade on Monday at $14.39, up 2.86 percent or 40 cents.

Netflix Chief Executive Officer Reed Hastings told Reuters recently that he "was quite comfortable" with Wall Street estimates calling for sales of $146.5 million to $148.1 million for 2002 and a loss of 40 cents to 55 cents per share.

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Monday July 1, 8:49 pm Eastern Time
Reuters Internet Report
DVD Renter Netflix Says Doubles User Base

LOS GATOS, Calif. (Reuters) - Netflix Inc. (NasdaqNM:NFLX - News) which rents DVD videos through its Web site and recently sold shares to the public, said on Monday that it more than doubled subscribers in the second quarter from a year earlier.
ADVERTISEMENT



The Los Gatos, California-based firm, which compete with conventional movie rental stores by allowing users to pick DVD videos, receive and return them through the mail, said it had 670,000 total subscribers at the end of the quarter ending in June compared to 308,000 in the same period a year earlier.

Compared with the first quarter, Netflix said the number of subscribers rose 11 percent.

Netflix, which sold its shares in an initial public offering in May, closed Nasdaq trade on Monday at $14.39, up 2.86 percent or 40 cents.

Netflix Chief Executive Officer Reed Hastings told Reuters recently that he "was quite comfortable" with Wall Street estimates calling for sales of $146.5 million to $148.1 million for 2002 and a loss of 40 cents to 55 cents per share.

[casinozock]

Monday July 1, 8:49 pm Eastern Time
Reuters Internet Report
DVD Renter Netflix Says Doubles User Base

LOS GATOS, Calif. (Reuters) - Netflix Inc. (NasdaqNM:NFLX - News) which rents DVD videos through its Web site and recently sold shares to the public, said on Monday that it more than doubled subscribers in the second quarter from a year earlier.
ADVERTISEMENT



The Los Gatos, California-based firm, which compete with conventional movie rental stores by allowing users to pick DVD videos, receive and return them through the mail, said it had 670,000 total subscribers at the end of the quarter ending in June compared to 308,000 in the same period a year earlier.

Compared with the first quarter, Netflix said the number of subscribers rose 11 percent.

Netflix, which sold its shares in an initial public offering in May, closed Nasdaq trade on Monday at $14.39, up 2.86 percent or 40 cents.

Netflix Chief Executive Officer Reed Hastings told Reuters recently that he "was quite comfortable" with Wall Street estimates calling for sales of $146.5 million to $148.1 million for 2002 and a loss of 40 cents to 55 cents per share.

[serena]

NetFlix (NFLX: news, chart, profile) rose more than 9 percent after the company said that it ended the second quarter with 670,000 total subscribers, a 118 percent increase from the same period a year earlier. NetFlix, which acquired a total of 236,000 new trial subscribers in the quarter, cited the increasing popularity of the DVD format for its strong growth. Average monthly churn was 6.7 percent for the quarter. The company plans to release its financial results for the period after the closing bell on July 24.

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Netflix Reinventing The "Reel"
Adaptations Abound In Netflix DVD Rentals For June 2002
LOS GATOS, CA--(INTERNET WIRE)--Jul 3, 2002 -- It is said that imitation is the highest form of flattery. This theme prevailed in June as members of Netflix, Inc. (Nasdaq:NFLX - news) the world`s largest online DVD rental source, preferred movies adapted from books, earlier movies and real life. From Harry Potter and the Sorcerer`s Stone (based on J.K. Rowling`s book "Harry Potter and the Philosopher`s Stone") and Black Hawk Down (based on Mark Bowden`s novel "Black Hawk Down: A Story of Modern War") to the Ocean`s Eleven remake of the 1960 original and Ali, a biographical portrayal of sports legend Muhammad Ali, adaptations topped the charts for movie lovers nationwide.

Netflix allows movie fans to rent as many DVDs as they want for $20 a month, with up to three movies out at a time. Subscribers simply create a list of movies they want to see at www.netflix.com and the DVDs are delivered via the U.S. Postal Service in postage-paid mailers. Customers can keep the movies as long as they like - there are no due dates and no late fees. As each movie is returned, Netflix automatically mails the next available title on the subscriber`s list.

Netflix tracked the top 10 movies that its members rented in June 2002.

Top June Rentals:

1. Monsters Ball
2. Harry Potter and the Sorcerer`s Stone
3. Ocean`s Eleven
4. Black Hawk Down
5. The Others
6. Training Day
7. Behind Enemy Lines: Special Edition
8. Ali
9. I am Sam: Special Edition
10. Serendipity
For more recommendations or additional information on the June top 10 DVD rentals, be sure to visit www.netflix.com.

About Netflix

Launched in 1998, Netflix (Nasdaq:NFLX - news) is the world`s largest online DVD rental service, providing more than 670,000 subscribers with access to a comprehensive library of over 11,500 titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep the movies for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail. Based in Los Gatos, California, with distribution centers throughout the country, the company also provides background information on DVD releases, including reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com.




--------------------------------------------------------------------------------
Contact:
Contact: JC Carson
Company: Netflix Public Relations
Voice: 408-399-1619

Contact: Rick Sneed
Company: Netflix Public Relations
Voice: 408-399-3709

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5:03PM Netflix beats by $0.03; updates guidance (NFLX) 15.60 -0.45: Reports Q2 (Jun) net of breakeven, $0.03 better than the Multex consensus of ($0.03). Revs rose 19.3% sequentially to $36.4 mln (consensus $35.2 mln). NFLX sees Q3 and Q4 revs of $37-$40 mln and $41-$44 mln (consensus $37.94 mln and $43.6 mln).

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Tech Stocks To Watch in 2002
Thu Jul 25, 1:55 PM ET
Elizabeth Millard, www.EcommerceTimes.com

Many technology companies thought 2001 was a tough year, but compared with today`s devalued Dow and spooked investors last year may turn out to be a fond memory.



• Wireless Tech Stocks To Watch
• Are Dot-Com Stocks Still Overvalued?
• Are Tech Stocks Safer Now?



Amid spectacular telecommunications flameouts, ISP (Internet service provider) collapses and disclosed losses in the billions, not millions, it is easy to see why potential investors might be wary about investing in tech stocks.

But according to some analysts, there are still a few tech companies that are good bets for the future. All investors need to do is play it safe -- and perhaps follow the SEC as it rolls across the Internet economy.

Techno Beat

A few years ago it was all the rage to invest in tech companies that seemed fresh and exciting, with funky names like Razorfish ( Nasdaq: RAZF - news) or monikers like Pets.com.

The time for gambling is over. A craving for stability has become evident, and investors are going with larger, more established firms that have an iron grip on their markets.

"You have to look at the bigger players," Giga Information Group research fellow Rob Enderle told the E-Commerce Times. "For example, Microsoft ( Nasdaq: MSFT - news) remains a solid firm that`s outperforming everybody. That`s a pretty solid investment."

Enderle also noted that Dell ( Nasdaq: DELL - news) has kept its head above waters that threatened to drown firms like Intel ( Nasdaq: INTC - news).

Area of Study

When studying the breadth of battered tech stocks, it is important to note which areas have been less damaged, according to Enderle.

"It`s a good idea to look at strong sectors, like the security space," he said.

Other strong, seemingly dependable sectors include data storage and, to a lesser extent, online travel.

For example, Expedia`s ( Nasdaq: EXPE - news) income nearly doubled in the second quarter, and the company appears poised to be the top player in the online travel arena. Its revenue rose 85 percent to $145 million, with net income increasing 94 percent to $29.3 million.

But despite Expedia`s growth -- and optimism about the online travel sector in general -- the company`s shares are falling, possibly heralding a change in the sector, from rebound darling to potential loser.

Future Think

Even among companies that are not yet public, a practical business plan like the one used by Netflix ( Nasdaq: NFLX - news) can go a long way toward building confidence, analysts said.

And, of course, market leadership can be a convincing factor.

"If I could invest in a company, it would have to be Google ( news - external web site)," Forrester ( Nasdaq: FORR - news) Research analyst Harley Manning told the E-Commerce Times. "I don`t know if they`ll ever go public and I`m not allowed to invest anyway; but if I were and they had an IPO, it would be a great investment."

The trick, Manning said, is to find a company that is focused on one thing and does it well.

Opening the Closet

Even within a strong sector, it is important to pay attention to individual companies` strengths and weaknesses.

For example, Enderle noted that there have been problems with security industry giant Network Associates ( NYSE: NET - news).

"On the other hand there are other top companies, like Symantec ( Nasdaq: SYMC - news), that look good," he said. "Of course, the SEC hasn`t looked at them yet, so I would hold off until that happens. You almost want a blessing by the SEC before being sure."

Like cars that follow a snowplow in hopes of finding a smoother path, some investors may want to think about simply following the SEC and investing in companies that have been cleared of wrongdoing.

"It`s kind of like a horror movie," Enderle said. "You want someone else to open that closet door and find the skeleton."

[casinozock]

Tech Stocks To Watch in 2002
Thu Jul 25, 1:55 PM ET
Elizabeth Millard, www.EcommerceTimes.com

Many technology companies thought 2001 was a tough year, but compared with today`s devalued Dow and spooked investors last year may turn out to be a fond memory.



• Wireless Tech Stocks To Watch
• Are Dot-Com Stocks Still Overvalued?
• Are Tech Stocks Safer Now?



Amid spectacular telecommunications flameouts, ISP (Internet service provider) collapses and disclosed losses in the billions, not millions, it is easy to see why potential investors might be wary about investing in tech stocks.

But according to some analysts, there are still a few tech companies that are good bets for the future. All investors need to do is play it safe -- and perhaps follow the SEC as it rolls across the Internet economy.

Techno Beat

A few years ago it was all the rage to invest in tech companies that seemed fresh and exciting, with funky names like Razorfish ( Nasdaq: RAZF - news) or monikers like Pets.com.

The time for gambling is over. A craving for stability has become evident, and investors are going with larger, more established firms that have an iron grip on their markets.

"You have to look at the bigger players," Giga Information Group research fellow Rob Enderle told the E-Commerce Times. "For example, Microsoft ( Nasdaq: MSFT - news) remains a solid firm that`s outperforming everybody. That`s a pretty solid investment."

Enderle also noted that Dell ( Nasdaq: DELL - news) has kept its head above waters that threatened to drown firms like Intel ( Nasdaq: INTC - news).

Area of Study

When studying the breadth of battered tech stocks, it is important to note which areas have been less damaged, according to Enderle.

"It`s a good idea to look at strong sectors, like the security space," he said.

Other strong, seemingly dependable sectors include data storage and, to a lesser extent, online travel.

For example, Expedia`s ( Nasdaq: EXPE - news) income nearly doubled in the second quarter, and the company appears poised to be the top player in the online travel arena. Its revenue rose 85 percent to $145 million, with net income increasing 94 percent to $29.3 million.

But despite Expedia`s growth -- and optimism about the online travel sector in general -- the company`s shares are falling, possibly heralding a change in the sector, from rebound darling to potential loser.

Future Think

Even among companies that are not yet public, a practical business plan like the one used by Netflix ( Nasdaq: NFLX - news) can go a long way toward building confidence, analysts said.

And, of course, market leadership can be a convincing factor.

"If I could invest in a company, it would have to be Google ( news - external web site)," Forrester ( Nasdaq: FORR - news) Research analyst Harley Manning told the E-Commerce Times. "I don`t know if they`ll ever go public and I`m not allowed to invest anyway; but if I were and they had an IPO, it would be a great investment."

The trick, Manning said, is to find a company that is focused on one thing and does it well.

Opening the Closet

Even within a strong sector, it is important to pay attention to individual companies` strengths and weaknesses.

For example, Enderle noted that there have been problems with security industry giant Network Associates ( NYSE: NET - news).

"On the other hand there are other top companies, like Symantec ( Nasdaq: SYMC - news), that look good," he said. "Of course, the SEC hasn`t looked at them yet, so I would hold off until that happens. You almost want a blessing by the SEC before being sure."

Like cars that follow a snowplow in hopes of finding a smoother path, some investors may want to think about simply following the SEC and investing in companies that have been cleared of wrongdoing.

"It`s kind of like a horror movie," Enderle said. "You want someone else to open that closet door and find the skeleton."

[casinozock]

Tech Stocks To Watch in 2002
Thu Jul 25, 1:55 PM ET
Elizabeth Millard, www.EcommerceTimes.com

Many technology companies thought 2001 was a tough year, but compared with today`s devalued Dow and spooked investors last year may turn out to be a fond memory.



• Wireless Tech Stocks To Watch
• Are Dot-Com Stocks Still Overvalued?
• Are Tech Stocks Safer Now?



Amid spectacular telecommunications flameouts, ISP (Internet service provider) collapses and disclosed losses in the billions, not millions, it is easy to see why potential investors might be wary about investing in tech stocks.

But according to some analysts, there are still a few tech companies that are good bets for the future. All investors need to do is play it safe -- and perhaps follow the SEC as it rolls across the Internet economy.

Techno Beat

A few years ago it was all the rage to invest in tech companies that seemed fresh and exciting, with funky names like Razorfish ( Nasdaq: RAZF - news) or monikers like Pets.com.

The time for gambling is over. A craving for stability has become evident, and investors are going with larger, more established firms that have an iron grip on their markets.

"You have to look at the bigger players," Giga Information Group research fellow Rob Enderle told the E-Commerce Times. "For example, Microsoft ( Nasdaq: MSFT - news) remains a solid firm that`s outperforming everybody. That`s a pretty solid investment."

Enderle also noted that Dell ( Nasdaq: DELL - news) has kept its head above waters that threatened to drown firms like Intel ( Nasdaq: INTC - news).

Area of Study

When studying the breadth of battered tech stocks, it is important to note which areas have been less damaged, according to Enderle.

"It`s a good idea to look at strong sectors, like the security space," he said.

Other strong, seemingly dependable sectors include data storage and, to a lesser extent, online travel.

For example, Expedia`s ( Nasdaq: EXPE - news) income nearly doubled in the second quarter, and the company appears poised to be the top player in the online travel arena. Its revenue rose 85 percent to $145 million, with net income increasing 94 percent to $29.3 million.

But despite Expedia`s growth -- and optimism about the online travel sector in general -- the company`s shares are falling, possibly heralding a change in the sector, from rebound darling to potential loser.

Future Think

Even among companies that are not yet public, a practical business plan like the one used by Netflix ( Nasdaq: NFLX - news) can go a long way toward building confidence, analysts said.

And, of course, market leadership can be a convincing factor.

"If I could invest in a company, it would have to be Google ( news - external web site)," Forrester ( Nasdaq: FORR - news) Research analyst Harley Manning told the E-Commerce Times. "I don`t know if they`ll ever go public and I`m not allowed to invest anyway; but if I were and they had an IPO, it would be a great investment."

The trick, Manning said, is to find a company that is focused on one thing and does it well.

Opening the Closet

Even within a strong sector, it is important to pay attention to individual companies` strengths and weaknesses.

For example, Enderle noted that there have been problems with security industry giant Network Associates ( NYSE: NET - news).

"On the other hand there are other top companies, like Symantec ( Nasdaq: SYMC - news), that look good," he said. "Of course, the SEC hasn`t looked at them yet, so I would hold off until that happens. You almost want a blessing by the SEC before being sure."

Like cars that follow a snowplow in hopes of finding a smoother path, some investors may want to think about simply following the SEC and investing in companies that have been cleared of wrongdoing.

"It`s kind of like a horror movie," Enderle said. "You want someone else to open that closet door and find the skeleton."

[casinozock]

Stock-ing stuffers
E-retailer shares may rise on holiday sales, analysts say

By Kristen Gerencher, CBS.MarketWatch.com
Last Update: 1:48 PM ET Sept. 20, 2002




SAN FRANCISCO (CBS.MW) - While shareholders of the top U.S. retailers brace for a mediocre 2002 holiday season as the economy flounders, online merchants may have good tidings for investors.



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The National Retail Federation projects seasonal sales including online purchases will grow by 4 percent this year, down from the 4.3 percent forecast - and surprising 5.6 percent actual growth -that consumers turned in last year.

Market-research firm Retail Forward puts the total increase even lower - at 3 to 3.5 percent for core products. But its economists expect e-commerce to be a bright spot, with fourth-quarter online sales nearing $13 billion, a 15 percent jump from last year.

"It`s growing each year as more people are getting high-speed Internet access," NRF spokesman Scott Krugman said. "People are becoming more proficient ... and more comfortable with payment mechanisms."

As this season further cements consumers` desire to point-and-click their way to one-stop gift shopping, the results are bound to affect e-tailers` share prices. Here`s a snapshot of the e-commerce leaders as well as a few less known.

Setting profitable examples

Among pure-play online retailers, EBay (EBAY: news, chart, profile) and Amazon (AMZN: news, chart, profile) are once again poised for a big portion of the buying, said Jeff Fieler, Internet analyst at Bear Stearns.

"Not only are they dominating market share, they`re dominating mind share," he said. "Brand and trust are pretty important attributes to get people to shop there."

Amazon, now going into its sixth holiday-shopping season, has ironed out many of the fulfillment snags that caused high-profile customer-service problems at places like ToysRUs.com, and now serves as a model for other e-outfits that survived the dot-com shake-out, Fieler said.

In anticipation of the season, Amazon introduced a broader range of products from third-party sellers, including Target.com, he said. "I would classify those moves as evolutionary not revolutionary, but certainly better than a year ago."

The e-tailing giant, which has five domestic fulfillment centers, also may continue its popular offer to ship orders over $25 for free because it`s proven to be effective in attracting customers, he said. Assuming its seasonal workforce can handle the last-minute crunch, Amazon is well-positioned to play virtual Santa Claus, said Fieler, who has an "outperform" rating and a $19 price target on the stock.

While he doesn`t cover Ebay formally, he said he also sees it making strides toward higher holiday traffic and revenue.

"Ebay`s expected to move more into a fixed-price format, which for holiday shoppers is relevant because consumers don`t want to track an auction and they want to make sure they get something."

WR Hambrecht analyst Derek Brown also favors Amazon and Ebay with "buy" ratings, the firm`s second-highest endorsement.

"Ebay, although not an e-tailer per se, is in the cat bird`s seat," Brown said. "They benefit from essentially any trend happening almost worldwide and have demonstrated they can grow and morph as the times change and as interests change."

Safa Rashtchy, a senior analyst U.S. Bancorp Piper Jaffray, agreed that Amazon and Ebay will set the bar high, saying he expects the sites to turn in 25 to 30 percent revenue growth this holiday season. But he pointed out that the titans aren`t alone.

Internet companies such as GSI Commerce (GSIC: news, chart, profile), 1-800 Flowers (FLWS: news, chart, profile), Netflix (NFLX: news, chart, profile), Overstock (OSTK: news, chart, profile), Alloy (ALOY: news, chart, profile) and Overture (OVER: news, chart, profile) also stand to gain, analysts said.

Smaller e-tailers vie for attention

GSI Commerce, formerly Global Sports, enables online sales for sporting goods shops. It bought Ashford.com last year and is expected to be profitable in the fourth quarter, Fieler said.

GSI should benefit from holiday sales, as should Netflix, an online subscription-based renter of DVDs, Rashtchy said. Increased gift spending on consumer electronics added 100,000 subscribers in its fourth quarter last year, and the company has few rivals, he said, noting that US Bancorp Piper Jaffray was the lead underwriter for Netflix`s initial public offering earlier this year.

"DVDs being a very hot market, you could expect more and more activity on that front," he said.

Another e-commerce company set to gain from holiday-related shopping is Internet search engine Overture, Rashtchy said. About 60 percent of online purchases are made using searches when consumers don`t know where to find a particular product, he said.

"Investors shouldn`t just look at the end part of this chain," he said. "It`s not just companies that are going to be selling, but those that are facilitating the sale and hooking up customers with the vendors. Those could be good beneficiaries of the growth in e-commerce, too."

Overture is the only "strong buy" recommendation Rashtchy has in his universe of coverage, he said, noting that he`s expecting it to reach $42. He calls Overture his fastest growing and most undervalued stock.

"It`s growing around 40 percent and trading at only 20 times next year`s earnings, compared with Ebay`s trading at 50 times earnings."

Overstock and Alloy

When it comes to getting value online, Overstock.com may corner the market for holiday shoppers on a budget this season, Brown said.

"They`ve been kind of flying under the radar screen, but have a very cost-effective, customer-acquisition program in place. They`re able to buy excess inventory at substantially reduced prices and offer discounts to customers. Particularly in this market, that`s an appealing proposition."

Brown said he has a $16 price target and the second-highest rating of "buy" on the stock. The company has grown sales and approached profitability by liquidating brand-name merchandise, he said.

But Brown`s highest stock recommendation goes to Alloy, a teen-focused merchandiser with a $35 price target.

The company functions both online and offline through Internet and catalog sales, and makes money with advertising as well, Brown said. "The merchandising side is likely to thrive this holiday season given their ability to react to the latest teen trends and to fill online shelves and catalogs with the hottest merchandise."

Kristen Gerencher is a reporter for CBS.MarketWatch.com in San Francisco.

[casinozock]

9:26AM Netflix Q3 estimates raised at Piper Jaffray (NFLX) 9.92: USB Piper Jaffray raises Q3 ests based on channel checks, strong traffic data and continued DVD mkt momentum; raises Q3 subscriber est to 730k from 707k (top of co guidance range), rev est to $39.7 mln from $38.2 mln ,and GAAP EPS est to ($0.22) from ($0.25).

[panik]

Netflix Announces Third Quarter 2002 Ending Subscribers of 742,000, Up 122% Over the Prior Year
Tuesday October 1, 12:40 pm ET


LOS GATOS, Calif., Oct. 1 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the third quarter of 2002 with approximately 742,000 total subscribers, approximately 12,000 subscribers above the high end of the Company`s guidance of 730,000. Subscribers grew 122 percent year-over-year from 334,000 total subscribers at the end of the third quarter of 2001 and 11 percent sequentially from 670,000 total subscribers at the end of the second quarter of 2002.
ADVERTISEMENT


New Trial Subscribers

Netflix acquired 277,000 new trial subscribers in the third quarter, a 159 percent year-over-year increase from the 107,000 new trial subscribers in the second quarter of 2001 and a sequential increase of 17 percent over the 236,000 new trial subscribers in the second quarter of 2002.

Paid Subscribers

Of the 742,000 total subscribers at quarter end, 95 percent or 708,000 were paying subscribers. The other 5 percent, or 34,000 subscribers, were new trial subscribers. Paying subscribers represented 95 percent of total subscribers in the third quarter of 2001 and the second quarter of 2002.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 3.5 percent of households at the end of the third quarter of 2002, up from 3.2 percent of at the end of the second quarter of 2002. Household penetration in the rest of the country reached 0.63 percent at the end of the third quarter of 2002, up from 0.57 percent at the end of the second quarter of 2002. Market research firm NPDTechworld estimates that 36 percent of all U.S. households have a standalone DVD player as of the end of August 2002.

Subscriber Churn

Average monthly churn for the third quarter of 2002 was 7.2 percent. This compares to average monthly churn of 6.7 percent in the second quarter of 2002, 7.2 percent in the first quarter of 2002, and 6.5% in the third quarter of 2001. Churn includes free trial subscribers as well as paying subscribers who elect not to renew their monthly Netflix subscription service. The increase in churn occurred broadly across the subscriber base and is primarily attributable to the Company making it easier for subscribers to cancel their Netflix service online instead of having to call an 800 number during regular business hours to cancel. "To grow a large business, you have to do right by subscribers and that includes allowing subscribers to cancel, if they so desire, with a minimum of hassle," said Netflix CEO Reed Hastings.

Third Quarter Earnings Release

Netflix will release its third quarter 2002 financial results on Thursday, October 17, 2002 after the market close. A webcast of the quarterly conference call will begin at 1:10 PM PDT and can be accessed via the web at www.netflix.com or at www.prnewswire.com.

About Netflix

Launched in 1998, Netflix is the world`s largest online DVD rental service, providing more than 742,000 subscribers with access to a comprehensive library of over 12,000 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first- class mail from 11 distribution centers throughout the United States. The company also provides background information on DVD releases, including reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com .




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Reuters Company News
Netflix narrows loss, boosts 4th Qtr guidance
Thursday October 17, 5:40 pm ET

By Bob Tourtellotte


LOS GATOS, Calif., Oct 17 (Reuters) - Online DVD renter
Netflix Inc. (NasdaqNM:NFLX - News) on Thursday reported a narrower third
quarter net loss on sharply higher revenues and lowered the
range of its expected operating loss for the fourth quarter.
Los Gatos, California-based Netflix said its net loss for
the quarter was $1.7 million, or 8 cents a share, compared to a
net loss of $5.6 million, or 38 cents a share, on a pro forma
basis, in the same quarter one year ago.
Netflix had its initial public offering of stock in May
this year and has been widely watched on Wall Street for its
trend-setting method of renting DVDs to consumers online.
Retailers like Blockbuster Inc. (NYSE:BBI - News) and Wal-Mart Stores
Inc. (NYSE:WMT - News) have now begun testing and considering comparable
services, which has raised Netflix investors` concerns about
future competition.
Nevertheless, Netflix`s financial picture looks to be
improving. Earnings before interest, taxes, depreciation and
amortization (EBITDA) in the third quarter were $6.3 million,
up from $614,000 one year ago, Netflix said in a statement.
EBITDA is a common measure of performance for developing
companies.
Quarterly revenue rose to $40.7 million from $18.9 million
last year, it said.
The company`s cost to attract new subscribers -- a pivotal
expense measurement -- declined 2 percent to $33.57 from $34.13
in the second quarter and compared to $32.19 a year earlier
In the current, fourth quarter, Netflix said it now expects
an operating loss, before stock-based compensation expense, of
$2 million to $4 million, compared to its past guidance of a
loss of $3 million to $6 million.
It expects fourth quarter EBITDA of $5 million to $6.5
million, up from forecasts of $2.5 million to $4.5 million.
Netflix said it continues to expect subscribers at the end
of the quarter to number between 830,000 and 860,000, up from
742,000 at the end of the third quarter, with revenue seen
between $41 million and $44 million.
Netflix shares ended up $1.27, or 19.75 percent, at $7.70
on the Nasdaq stock market. The news announcement came after
the market`s release.
Immediately after its IPO at $15 a share, Netflix shares
rose. But in July, investors began to show concern over future
competition from Blockbuster and Wal-Mart, which has weighed on
the stock. Netflix shares touched a low of $4.85 on Oct. 10.

[panik]

http://yahoo.businessweek.com/technology/content/oct2002/tc2…


OCTOBER 1, 2002

SPECIAL REPORT: THE 2002 E.BIZ 25

Reed Hastings: Movies by Mail

Position: CEO, Netflix
Contribution: Created a supersimple mail-order DVD subscription service that has taken the movie-rental market by storm
Challenge: Keeping at bay powerful competitors, including Blockbuster and Wal-Mart

It was a seminal moment for Reed Hastings. Sitting in a Stanford University computer-science lecture 15 years ago, he listened as his professor described how a station wagon full of old-fashioned data-storage disks held more information than the entire fledgling Internet. The message was clear: Sometimes low-tech solutions work best.

While the Net has grown wildly since then, that lesson has stuck with Hastings, now the CEO of Netflix (NFLX ), a mail-order DVD subscription service that has captured the hearts and minds of its 670,000 subscribers. Its appeal, like the concept, is simple. For $20 a month, subscribers can rent as many DVDs as they want, checking out three at a time.

Even better, Netflix charges no late fees, ever. Subscribers can keep a movie out as long as they like. The only catch is that they won`t receive a new title until at least one is returned.

PROFITABLE NOTION. "That image of a station wagon always captivated me," Hastings says. "While the whole world was talking about downloading movies and wireless distribution, I knew that the most cost-effective way to distribute movies was by mail." In fact, it costs just 37 cents to send a DVD by mail -- perhaps one-tenth what Hastings estimates it would cost to transmit movies over the Internet.

The good news is that the idea is profitable. Netflix`s second-quarter revenues doubled -- to $36.4 million, from $18.4 million a year ago. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) of $6.5 million in the second quarter, compared to a loss of $100,000 a year ago. "Over the next four years, we`re going to grow the subscriber base to 5 million," Hastings vows. "That`s about a billion in revenue. That will make us a `real` media company. At $150 million in [annual] revenues, we`re still just a promising niche."

Its rapid growth -- and Hastings` candid management -- has made Netflix one of the few successful e-commerce IPOs of 2002. However, at around $10, the stock is well off its 52-week high of $18.19 and is just above its 52-week low of $9.89.

BLOCKBUSTER BUSTER? Hastings readily admits that he can`t take all the credit. In fact, the Los Gatos (Calif.) company has benefited from impeccable timing. Americans now own 35 million DVD players, up from zero in 1997. With low-end players selling for as little as $80, that number is expected to continue growing dramatically. And Hollywood studios have been eager to sign deals with Netflix to counter the growing power of Blockbuster (BBI ).

So far so good. But Netflix` success has piqued the curiosity of Blockbuster and that other behemoth, Wal-Mart (WMT ), the largest U.S. retailer of DVDs. In July, Blockbuster launched an unlimited monthly subscription service in four metropolitan markets. Wal-Mart is expected to roll out a competitive service by yearend. Both announcements have knocked down Netflix` stock.

Hastings says he isn`t frightened. "We`ve been doing this for four years, and we know how hard it is to do well," he says. His plan for staying ahead is to excel at what made the company a hit: Delivering an amazing assortment of movies quickly by mail. In June, Netflix said it plans to open 10 new distribution centers to ensure that most subscribers receive their DVDs within 24 hours.

100 MILLION RATINGS. It`s also constantly improving its already-popular rating system, which allows subscribers to grade the films they watch and should lead next to sophisticated recommendation software to help viewers find new films they might enjoy. The average Netflix subscriber rates 150 movies, and Netflix has collected more than 100 million movie ratings to date.

Can Netflix make the transition from scrappy startup to media colossus? Many analysts and investors are betting on it. Either way, though, Hastings has already made his mark: For millions of consumers, renting a movie will never be the same.


By Jane Black in New York

[panik]

Netflix Updates Guidance for Fourth Quarter 2002
Wednesday December 4, 4:16 pm ET
Announces Fourth Quarter Conference Call


LOS GATOS, Calif., Dec. 4 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) updated guidance today for the fourth quarter ending December 31, 2002 for subscriber churn, ending subscribers, subscriber acquisition costs, revenue and EBITDA as follows:
-- Average monthly subscriber churn of 6.6 to 7.0%, down from 7.0 to 7.4%
-- Ending subscribers of 840 to 870 thousand, up from 830 to 860 thousand.
The increase is based on lower churn expectations, given that
performance quarter-to-date is otherwise in line with Company
expectations. In prior years, subscriber growth in the fourth quarter
has been backend-loaded and tied to the rapid sales of DVD players
during the holidays. The Company expects a similar pattern to
subscriber growth this quarter. If holiday sales of DVD players and
new subscriber trials are more robust than the Company anticipates,
subscriber growth may exceed the Company`s updated guidance.
-- Subscriber acquisition cost of $34 to $38, down from $40
-- Revenue of $43 to $46 million, up from $41 to $44 million
-- EBITDA of $6.5 to $7.5 million, up from $5.0 to $6.5 million

The following guidance is unchanged:

-- Gross margin of 47 to 48%


Fourth Quarter Earnings Release

Netflix will release its fourth quarter 2002 financial results on January 15, 2003 after the market close. A web cast of the quarterly conference call will begin at 2 PM PST and can be accessed via the web at www.netflix.com or at www.prnewswire.com.

About Netflix

Launched in 1998, Netflix is the world`s largest online DVD rental service, providing more than 740,000 subscribers with access to a comprehensive library of over 12,000 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first- class mail from 11 distribution centers throughout the United States. The Company also provides background information on DVD releases, including reviews, member reviews and ratings and personalized movie recommendations. For more information on the Company, visit http://www.netflix.com .

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber churn, ending subscribers, subscriber acquisition costs, EBITDA, revenue, and gross margin for the fourth quarter of 2002. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to attract new subscribers and retain existing subscribers, in particular, during the last few weeks of the fourth quarter; our ability to manage our growth, in particular our subscriber acquisition costs; fluctuations in consumer spending on DVD players, DVDs and related products, and changes to the historical seasonal correlation between such sales and our subscriber growth; competition; disruption in service on our website or with our computer systems; deterioration of the U.S. economy or conditions specific to online commerce or the filmed entertainment industry; conditions that effect our delivery through the U.S. Postal Service; and widespread consumer adoption of different modes of viewing in-home filmed entertainment. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our final prospectus dated May 22, 2002 relating to our initial public offering. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Reuters
Netflix raises outlook for Q4 revenues, subscribers
Wednesday December 4, 4:39 pm ET


LOS GATOS, Calif., Dec 4 (Reuters) - Online DVD rental service Netflix Inc. (NasdaqNM:NFLX - News) on Wednesday raised its revenue forecast for the current quarter and said it would end the period with more subscribers than originally projected.
ADVERTISEMENT


Los Gatos, California-based Netflix said it expected to post revenue of between $43 million and $46 million, up from an initial forecast of $41 million to $44 million.

The company also forecast that it would end the fourth quarter and the calendar year with between 840,000 and 870,000 subscribers, up from an earlier forecast of between 830,000 and 860,000.

Netflix said it expected that its subscriber "churn," a measure of turnover in its customer base, would be lower than first projected and that the average cost of acquiring subscribers would fall to between $34 and $38 from an initially forecast $40.

[casinozock]

yes yes yesssss

netflix rocks!!!!!!!!!


nachbörslich +15%!!!

[casinozock]

Der DVD-Markt gehört seit den
letzten 2 Jahren mit zu den
stärksten Wachstumsmärkten
weltweit. In den USA hat sich
die kleine Silberscheibe mit
einem Marktanteil von über
50% bereits erfolgreich
gegenüber der Videokassette
durchgesetzt. Warren Liebfarb,
Präsident von Warner Home
Video brachte es auf den Punkt
„Die Disk ist das erfolgreichste
Unterhaltungsprodukt in der
Geschichte“. Heute verfügen
bereits mehr als 30Millionen
US-Haushalte über einen DVDPlayer
– Tendenz weiter stark
steigend. Der Trend geht immer
mehr in Richtung Home-Cinema
– Kino zu Hause erleben. Die
technischen Vorraussetzungen
(Großbildfernsehgeräte, Dolby-
Surround Anlagen, DVD-Player)
werden immer preiswerter und
damit für den Konsumenten
immer attraktiver. Ein positiver
Nebeneffekt dieser Entwicklung,
ist die Wiederbelebung des
Verleihgeschäftes. Zwar hat hier
die traditionelle Videokassette
immer noch einen Umsatzanteil
von knapp 90%, jedoch geht
der Trend auch in den
Videotheken immer mehr zu
Gunsten der kleinen
Silberscheibe. Aktuellen
Schätzungen zufolge, wird die
DVD in den nächsten 2-4Jahren
die Videokassette auch in den
Videotheken abgelöst haben.
Das 1997 gegründete
Unternehmen Netflix aus Los
Gatos / Kalifornien hat diesen
Trend rechtzeitig erkannt und
startete 1998 als erster, den
virtuellen DVD-Verleih und
arbeitete sich dabei in den
letzten Jahren zum
unangefochtenen Marktführer
ein bis dato in der Branche
untypisches Gebührenmodell
ein.
Für einen Monatsbeitrag von
19,95 USD (der Preis einer
Kauf-DVD) können sich Netflix
Kunden so viele DVD´s
ausleihen wie sie wollen.
Einzigste Bedingung, es dürfen
nur max. 3 DVD´s auf einmal
ausgeliehen werden. Das Prinzip
ist relativ einfach - zuerst
erfolgt die Registrierung auf der
Netflix-Seite - anschließend
wählt man aus einem Archiv
von über 12.000 DVD´s seine
Filme aus. Netflix versendet
anschließend die ersten 3
ausgewählten DVD´s incl.
einem frankierten
Rückumschlag dem Kunden zu.
So bald der Kunde eine DVD an
Netflix zurücksendet, geht die
nächste von ihm ausgewählte
DVD an ihn raus. Und da bei
Netflix der Kunde König ist,
fallen auch nicht die sonst
typischen Gebühren an, sollte
man einmal vergessen seine
ausgeliehenen DVD´s innerhalb
des bezahlten Zeitraumes
zurückzusenden.
Ein weiterer Service bei Netflix
ist das inzwischen sehr beliebte
Ciematch-Feature. Der
Besucher der Netflix-Site hat
zunächst die Möglichkeit eine
unbegrenzte Anzahl an DVD´s
zu bewerten. Diese
Bewertungen werden mit Hilfe
einer speziellen Software
analysiert und mit den
Bewertungen anderer
Abonnenten verglichen. Mit Hilfe
dieser Analysefunktion schlägt
die Software dem Kunden beim
nächsten Besuch auf der
Netflix-Seite automatisch neue
DVD´s vor. Die sich daraus
ergebenden persönlichen
Empfehlungen sind
überraschend genau und führen
daher sehr oft zum Verleih.
Unter www.netflix.com schufen
die Kalifornier Ihre eigene
virtuelle Videothek – nur ein paar
Clicks vom Kunden entfernt und
24Stunden am Tag erreichbar.
Jetzt könnte man denken, da
Netflix ein Unternehmen aus der
New Economy ist, werden die
ausgewählten Filme im
Internetzeitalter, nach dem
neuesten technischen Stand, per
Streaming, durch das Cyberspace
zum Kunden versandt – doch weit
gefehlt. Die bei Netflix
ausgewählten DVD´s gelangen
immer noch über den
traditionellen Post-Weg innerhalb
von 2-3Tagen zu den Kunden.
Netflix – Die virtuelle DVDthek
Der Grund liegt zum einen in der
noch mangelnden Breitband-
Infrastruktur und zum anderen an
den zur Zeit noch extrem hohen
Kosten von 10-20USD für eine
Streaming- Übertragung. Der
Versand mit der guten alten Post
kostet dagegen gerade mal
37Cent/Lieferung.
Am Anfang setze Netflix auf das
typische Gebührenmodell, pro
Film /Tag – doch der Erfolg war
nur mäßig und nach 2 Jahren
stellte man sein Geschäftsmodell
radikal um. „Gib dem Kunden die
größt mögliche
Entscheidungsfreiheit und der
Erfolg ist dein“ – nach diesem
Motto führte das UnternehmenInzwischen nutzen bereits mehr
als 800.000 Amerikaner diesen
praktischen Verleihservice – und
täglich kommen Tausende neue
Kunden hinzu. Nach eigenen
Angaben, versendet das
Unternehmen bereits über
200.000 DVD´s täglich, an
seine Abonnenten. Um dieser
stark wachsenden Nachfrage
gerecht zu werden und die
DVD´s innerhalb von 2-3Tagen
landesweit zu versenden,
unterhält Netflix inzwischen 11
Distributionscenter (San Jose,
Atlanta, Denver, Detroit,
Houston, Los Angeles,
Minneapolis, New York, Seattle,
Washington DC und in
Gaithersburg) die den Versand
und die Rücknahme steuern.
Netflix – Die virtuelle DVDthek
Fazit: Der Markt für Kauf- und
Miet DVD´s und Videos ist mit
einem Volumen von mehr als
23Mrd. USD bereits heute
gigantisch. und wird Dank der
DVD auch in Zukunft weiter
stark wachsen. Vor allem das
DVD-on-Demand Geschäft, in
dem Netflix tätig ist, steckt mit
einem aktuellen Marktanteil von
10% noch in den Kinderschuhen.
Experten gehen
jedoch davon aus, das sich in
den nächsten Jahren die DVD
auch im Verleihgeschäft
gegenüber der Videokassette
durchsetzen wird. Netflix hat
sich bereits heute einen guten
Namen bei den USKonsumenten
aufgebaut und
wird auch in Zukunft vom
Wachstum in diesem Markt
überproportional profitieren.
„Sobald das Netz soweit ist,
werden wir unsere Filme auch
über den elektronischen Weg
anbieten“ gab CEO Reed
Hastings bereits einen Ausblick
über die weitere Entwicklung im
DVD-on-Demand.
Die Aktie von Netflix konnte sich
seit dem Tief von 5USD im
Oktober wieder kräftig erholen
und notiert aktuell bei
12,50USD. Wir empfehlen
risikobereiten Anlegern bei
Kursen von 10USD klar zum
Kauf. Wir gehen angesichts des
weiter wachsenden DVDMarktes
davon aus, das Netflix
wie geplant, ab dem 2.Quartal
03 erste Gewinne ausweisen
wird und sehen ein 12-Monatskursziel
von 15-17USD.
Anfang des Jahres mit Amerikas
größter Elektronikmarktkette
BestBuy abschließen. BestBuy
legt in jedem DVD-Player von
JVC, Panasonic und Philips ein
Anzeigeblatt über Netflix bei und
verschafft mit jedem verkauften
DVD-Player einen neuen
potenziellen Kunden für die
virtuelle Videothek von Netflix.
Der enorme Marketingaufwand
zahlt sich jedoch aus und
beschert dem Unternehmen
Wachstumsraten von denen
andere Internetfirmen nur noch
träumen. In den ersten 9Monaten
dieses Jahres steigerte Netflix
seine Umsätze um mehr als 100%
auf 107Mio. USD im Vergleich
zum Vorjahreszeitraum.
Bis Ende 2003 sollen weitere 14
dieser Center eröffnet werden
und damit 90% aller USHaushalten
eine schnelle und
zuverlässige Belieferung zu
ermöglichen. Die Kosten für die
Distributionscenter liegen nach
Angaben von Netflix bei ca.
60.000USD / Center.
Am 29. Mai 2002 wagte Netflix
zu einem recht ungünstigen
Zeitpunkt den Gang an die
Börse und gab 5,5Mio. Aktien zu
15USD aus. Diese IPO spülte
dem Unternehmen 82,5Mio.
USD in die leeren Kassen und
gibt Netflix die Möglichkeit seine
aggressive Expansion
fortzuführen. Immerhin liegen
die durchschnittlichen Kosten
für die Neugewinnung eines
Abonnenten bei 32USD. Mit
mehr als 25Mio. USD in den
ersten 9Monaten sind die
Marketingaufwendungen der
größte Kostenfaktor im
Businessmodell von Netflix. Den
cleversten Marketing-Schachzug
konnte das Unternehmen
Letzte Woche erhöhte das
Management zudem seine
Prognosen für das laufende
4.Quartal 02 auf 43-46Mio.USD
Zum Ende des Jahres rechnet
man bei Netflix, nicht zuletzt
wegen der starken Verkäufe bei
DVD- Playern, mit über 870.000
Abonnenten in den USA.
Aber auch finanziell scheint sich
das Verleih-Modell von Netflix
aufzugehen. So erzielte das
Unternehmen bereits im 3.Quartal
02 einen EBITDA- Überschuss von
6,3Mio. USD. Der Nettoverlust
nach GAAP-Basis konnte
gleichzeitig um 70% auf 1,7Mio.
USD (0,08/Aktie), im Vergleich
zum Vorjahreszeitraum, reduziert
werden. Nach aktuellen
Schätzungen wird das
Unternehmen im 2.Quartal 2003
profitabel arbeiten und einen
ersten Nettogewinn ausweisen.
Mit einem aktuellen Cash-Polster
von über 57Mio. USD ist Netflix
finanziell bestens abgesichert und
damit in der Lage seine
Marktführerschaft weiter
aggressiv auszubauen.
Kennzahlen
US-Kürzel: NFLX
WPKN: 552484
Börse: Nasdaq
Aktienanzahl: 22,1Mio.
Float: 5,5Mio.
Earning 2002*: $ -1,80
Earning 2003*: $ 0,07
Fazit: spekulativ
Aktueller Kurs 12,50 USD

[casinozock]

Reuters
Blockbuster Cuts Outlook as Rentals Ebb
Wednesday December 18, 10:09 am ET
By Ellis Mnyandu


NEW YORK (Reuters) - Blockbuster Inc. (NYSE:BBI - News), the world`s largest video rental chain, on Wednesday slashed its 2002 profit outlook, citing deep discounting on new DVD movies by rivals and a slowdown in rental demand, and its stock plunged nearly 30 percent.
ADVERTISEMENT


Independent analyst Dennis McAlpine said Blockbuster`s announcement was "negative and inconsistent" with a raised fourth-quarter forecast from closest peer Hollywood Entertainment Corp. (NasdaqNM:HLYW - News) on Dec. 3.

Still, the news drove down shares of Hollywood and third-ranked Movie Gallery Inc. (NasdaqNM:MOVI - News), which had raised its 2002 earnings target last month.

Blockbuster, which has more than 8,200 stores throughout the Americas, Europe, Asia and Australia, reduced its full-year profit outlook to a range of $1.03 to $1.10 per share. Analysts on average were expecting earnings of $1.31, in line with the Dallas company`s previous forecast.

Chief Executive John Antioco said in a statement that Blockbuster`s strong rental transaction growth of the early fall slowed significantly beginning at Thanksgiving, causing revenue and gross profit to fall short of expectations.

Meanwhile, the company`s movie sales business is facing stiff competition from discounter Wal-Mart Stores Inc. (NYSE:WMT - News) and consumer electronics chains such as Best Buy Co. Inc. (NYSE:BBY - News), which are using rock-bottom-priced DVDs to attract shoppers in a downbeat retail environment.

In October, Wal-Mart -- the world`s largest retailer -- also begun testing an online DVD movie rental service that analysts said will put pressure on Blockbuster and online renter Netflix Inc. (NasdaqNM:NFLX - News) over the long term.

Blockbuster said it expects fourth-quarter sales at stores open at least a year, a key performance measure, to increase at a high single-digit percentage rate, down from a previous outlook of growth in the low to mid-teens.

The company said it expects gross profit dollars to rise in the low single digits. It previously had forecast a mid to high single-digit increase.

Blockbuster`s parent, media giant Viacom Inc. (NYSE:VIA - News; NYSE:VIAb - News), said the unit`s profit shortfall will not affect its own fourth-quarter and full-year profit targets.

Blockbuster shares were down $5.60, or 28.9 percent, at $13.80 in early New York Stock Exchange trade after dropping as low as $13.10 -- their lowest level in nearly two years. Viacom stock fell $1.47, or 3.4 percent, to $41.52.

On Nasdaq, Hollywood shares were down $4.46, or 23 percent, at $14.79, while Movie Gallery dropped $3.21 or 17.7 percent, to $14.94.

[casinozock]

Jawohl! da ist nochmals die bestätigung von netflix!


Netflix Reaffirms Guidance for Fourth Quarter 2002
Wednesday December 18, 1:46 pm ET


LOS GATOS, Calif., Dec. 18 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) reaffirmed today the previously announced guidance it released on December 4, 2002 for the fourth quarter ending December 31, 2002 for subscriber churn, ending subscribers, subscriber acquisition costs, revenue, EBITDA and gross margin. The guidance remains as follows:
Average monthly subscriber churn of 6.6 to 7.0%
Ending subscribers of 840 to 870 thousand
Subscriber acquisition cost of $34 to $38
Revenue of $43 to $46 million
EBITDA of $6.5 to $7.5 million
Gross margin of 47 to 48%
Fourth Quarter Earnings Release

Netflix will release its fourth quarter 2002 financial results on January 15, 2003 after the market close. A web cast of the quarterly conference call will begin at 2 PM PST and can be accessed via the web at www.netflix.com or at www.prnewswire.com.

About Netflix

Launched in 1998, Netflix is the world`s largest online DVD rental service, providing more than 740,000 subscribers with access to a comprehensive library of over 12,000 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from 11 distribution centers throughout the United States. The Company also provides background information on DVD releases, including reviews, member reviews and ratings and personalized movie recommendations. For more information on the Company, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber churn, ending subscribers, subscriber acquisition costs, EBITDA, revenue, and gross margin for the fourth quarter of 2002. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to attract new subscribers and retain existing subscribers, in particular, during the last few weeks of the fourth quarter; our ability to manage our growth, in particular our subscriber acquisition costs; fluctuations in consumer spending on DVD players, DVDs and related products, and changes to the historical seasonal correlation between such sales and our subscriber growth; competition; disruption in service on our website or with our computer systems; deterioration of the U.S. economy or conditions specific to online commerce or the filmed entertainment industry; conditions that effect our delivery through the U.S. Postal Service; and widespread consumer adoption of different modes of viewing in-home filmed entertainment. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our final prospectus dated May 22, 2002 relating to our initial public offering. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.




--------------------------------------------------------------------------------
Source: Netflix, Inc.




Netflix ROCKS

[casinozock]

1:47PM Netflix reaffirms Q4 guidance (NFLX) 11.35 -1.34:

[casinozock]

netflix rocksssss
Thu 9:02am NFLX InPlay: Netflix says it will report better than expected Q4 churn



Netflix Announces Fourth Quarter 2002 Ending Subscribers of 857,000, Up 88% Over the Prior Year
Thursday January 2, 8:58 am ET


LOS GATOS, Calif., Jan. 2 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the fourth quarter of 2002 with approximately 857,000 total subscribers. The Company increased its guidance for ending subscribers on December 4, 2002 to a range of 840,000 to 870,000. Subscribers grew 88 percent year-over-year from 456,000 total subscribers at the end of the fourth quarter of 2001 and 15 percent sequentially from 742,000 total subscribers at the end of the third quarter of 2002.
ADVERTISEMENT


Paid Subscribers

Of the 857,000 total subscribers at quarter end, 93 percent or 796,000 were paying subscribers. The other 7 percent, or 61,000 subscribers, were new trial subscribers. Paying subscribers represented 88 percent of total subscribers in the fourth quarter of 2001 and 95 percent of total subscribers in the third quarter of 2002. New trial subscribers increased from the third quarter as a percent of total subscribers due to the seasonal growth in new trial subscribers late in the fourth quarter.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 3.8 percent of households at the end of the fourth quarter of 2002, up from 3.5 percent at the end of the third quarter of 2002 and up from 2.1 percent at the end of the fourth quarter of 2001. Household penetration in the rest of the country reached 0.73 percent at the end of the fourth quarter of 2002, up from 0.63 percent at the end of the third quarter of 2002 and up from 0.39 percent at the end of the fourth quarter of 2001. Market research firm NPDTechWorld estimates that 44 percent of all U.S. households had a standalone DVD player as of the end of December 2002.

Subscriber Churn

The Company will report better than expected fourth quarter churn as part of its fourth quarter earnings release on January 15, 2003. On December 4, 2002 Netflix lowered its guidance for churn to 6.6 to 7.0%.

The Company intends to report churn, and new trial subscribers, a metric used to calculate churn, in all future quarterly earnings releases so that investors can interpret churn in the context of other important financial metrics like gross margin and subscriber acquisition cost.

Fourth Quarter Earnings Release

Netflix will release its fourth quarter 2002 financial results on Wednesday, January 15, 2003 after the market close. A web cast of the quarterly conference call will begin at 2 PM PST and can be accessed via the web at http://www.netflix.com or at http://www.prnewswire.com .

About Netflix

Launched in 1998, Netflix (Nasdaq: NFLX - News) is the world`s largest online subscriptions-based DVD rental service, providing more than 850,000 subscribers with access to a comprehensive library of more than 13,500 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from distribution centers throughout the United States. Netflix can reach more than half of its subscribers with next-day service. The Company also provides background information on DVD releases, including reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit http://www.netflix.com .




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Netflix Reports Pro-Forma Net Income on Record 4th Quarter 2002 Revenue
Wednesday January 15, 4:05 pm ET
- Revenue of $45.2 million, up 109 percent year over year and up 11 percent sequentially - Pro-forma net income of $463 thousand or $0.02 per basic and fully diluted share - Churn of 6.3 percent, down from 7.2 percent in the third quarter of 2002 - EBITDA of $8.1 million, up 476 percent year over year and up 29 percent sequentially - Positive cash flow of $4.7 million for the fourth quarter and $15.8 million for fiscal 2002


LOS GATOS, Calif., Jan. 15 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) announced record financial results for the fourth quarter and year ended December 31, 2002.
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Revenue, Subscribers, and Churn

Total revenue for the fourth quarter was a record $45.2 million, up 109 percent compared to $21.6 million for the fourth quarter 2001, and up 11 percent compared to $40.7 million for the third quarter 2002.

Revenue for fiscal 2002 was a record $152.8 million, up 101 percent compared to $75.9 million for fiscal 2001. "Netflix momentum is a powerful testament to consumer enthusiasm for unlimited DVD rentals, delivered by mail, with no late fees, for $20 a month," said Reed Hastings, Netflix CEO and co-founder. "Netflix has and will continue to dominate the category we created."

Netflix ended the fourth quarter of 2002 with approximately 857,000 total subscribers. During the quarter Netflix acquired 315,000 new trial subscribers, a 39 percent year-over-year increase from the 227,000 new trial subscribers acquired in the fourth quarter of 2001 and a sequential increase of 14 percent over the 277,000 new trial subscribers acquired in the third quarter of 2002.

Average monthly subscriber churn for the fourth quarter of 2002 was 6.3 percent as compared to 7.2 percent in the third quarter of 2002 and 6.2 percent in the fourth quarter of 2001. Churn includes free trial subscribers as well as paying subscribers who elect not to renew their monthly subscription service during the quarter. Churn rates were better than expected throughout the quarter for free trial and paying subscribers.

Gross Margin

Gross margin for the quarter was 48.2 percent, slightly above the Company`s guidance of 47 to 48 percent and up from 47.2 percent in the third quarter of 2002. Disc usage per average paid subscriber declined 3 percent during the quarter. Cost savings from lower postage and packaging expense were partially offset by increased depreciation expense on DVD inventory.

Subscriber Acquisition Cost

Subscriber acquisition cost(1) for the fourth quarter was $33.31 per new-trial subscriber compared to a cost of $30.15 for the fourth quarter 2001 and a cost of $33.57 for the third quarter 2002.

Net Income, EBITDA, and Cash Flow

Netflix reported record pro forma net income of $463 thousand, or $0.02 per basic and diluted share, for the fourth quarter of 2002 compared to a pro forma net loss of $3.5 million, or a loss of $0.23 per pro forma basic and diluted share(2), for the fourth quarter of 2001 and a pro forma net loss of $228 thousand, or $0.01 per basic and diluted share, for the third quarter of 2002. Pro forma net income equals net income on a GAAP basis less stock-based compensation expense, restructuring charges, and non-cash interest expense on the early retirement of debt.

Netflix also reported a net loss on a GAAP basis totaling $2.3 million or a loss of $0.10 per basic and diluted share for the fourth quarter of 2002, compared to a net loss of $4.5 million or a loss of $2.26 per basic and diluted share, or a loss of $0.30 per pro forma basis and diluted share, for the fourth quarter of 2001 and a net loss of $1.7 million or a loss of $0.08 per basic and diluted share for the third quarter of 2002.

EBITDA for the fourth quarter 2002 was $8.1 million, up 476 percent compared to $1.4 million for the fourth quarter ended 2001 and up 29 percent compared to $6.3 million for the third quarter ended 2002.

Free cash flow for the fourth quarter 2002 was 10 percent of revenue or $4.7 million, down 19 percent from $5.8 million in the third quarter 2002 due to rapid growth in Netflix subscribers and the costs of acquiring subscribers and inventory to support that growth. For the full year 2002 the Company generated $15.8 million of positive cash flow and finished the year with $104 million of cash and short-term investments. Less outstanding debt of $1.7 million, this equates to $4.59 per fully diluted share.

Business Outlook

The Company`s performance expectations for the first quarter of 2003 and the full year 2003 are as follows:

First Quarter, 2003
Ending subscribers of 975 to 1,025 thousand
Revenue of $51 to $54 million
Gross margin of 47 to 48 percent
Subscriber acquisition cost of $34 to $36 per acquired subscriber
Pro forma operating loss before stock-based compensation expense of
$0.5 to $2.5 million

EBITDA of $5.7 to $7.2 million
Full Year 2003
Revenue of $235 million to $255 million
Pro forma operating profit before stock-based compensation expense of
$2 to $6 million

EBITDA of $40 to $45 million
"2003 will be a year of milestones with a laser focus on the fundamentals that have made us one of today`s most dynamic Internet companies: generally overnight delivery to more than 50 percent of our subscribers and a library of DVD titles that would be virtually impossible for any consumer to amass or access at their local video store," said Mr. Hastings.

Earnings Call

The Netflix earnings call will be web cast today at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time, and may be accessed at http://www.netflix.com or at http://www.prnewswire.com . Following the conclusion of the web cast, a replay of the call will be available via Netflix`s web site at http://www.netflix.com .

About Netflix

Launched in 1998, Netflix is the world`s largest online subscriptions-based DVD rental service, providing more than 850,000 subscribers with access to a comprehensive library of more than 13,500 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from distribution centers throughout the United States. Netflix can reach more than half of its subscribers with generally next-day service. The Company also provides background information on DVD releases, including reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit http://www.netflix.com .

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber growth, revenues, gross margins, subscriber acquisition costs, pro forma operating loss, and EBITDA for the first quarter of 2003 and our revenue, pro forma operating income, and EBITDA for the full year of 2003. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to manage our growth, in particular managing our subscriber acquisition costs as well as the mix between revenue sharing titles and titles not subject to revenue sharing that are delivered to our subscribers; our ability to attract new subscribers and retain existing subscribers; fluctuations in consumer spending on DVD players, DVDs and related products; competition; disruption in service on our website or with our computer systems; deterioration of the U.S. economy or conditions specific to online commerce or the filmed entertainment industry; conditions that effect our delivery through the U.S. Postal Service, including increases in first class postage; changes to the exclusive release period provided by the studios for DVDs following theatrical release; increases in the costs of acquiring DVDs; and, widespread consumer adoption of different modes of viewing in-home filmed entertainment. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our filings with the Securities and Exchange Commission, including our final prospectus dated May 22, 2002 relating to our initial public offering. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

(1) "Subscriber acquisition cost" is defined as the total marketing
expense on the Company`s Statement of Operations divided by total new
trial subscribers in the quarter.
(2) Pro forma basic and diluted net loss per share gives effect to the
conversion of all shares of our preferred stock, as of the beginning
of the periods presented, that automatically converted to common
stock upon the completion of our initial public offering.


Netflix, Inc.
Statements of Operations
(in thousands, except per share data)

Three Months Ended Year Ended
Dec 31, Sep 30, Dec 31, Dec 31, Dec 31,
2001 2002 2002 2001 2002
Revenues:
Subscription $21,362 $40,163 $44,978 $74,255 $150,818
Sales 256 568 210 1,657 1,988
Total revenues 21,618 40,731 45,188 75,912 152,806
Cost of
revenues:
Subscription 10,468 21,147 23,246 49,088 77,044
Sales 197 349 144 819 1,092
Total cost of
revenues 10,665 21,496 23,390 49,907 78,136
Gross profit 10,953 19,235 21,798 26,005 74,670
Operating
expenses:
Fulfillment 2,967 4,908 5,449 13,452 19,366
Technology and
development 2,901 3,966 3,960 17,734 14,625
Marketing 6,844 9,299 10,492 21,031 35,783
General and
administrative 1,110 1,870 1,920 4,658 6,737
Restructuring
charges -- -- -- 671 --

Stock-based
compensation 987 1,467 2,778 5,686 9,831
Total
operating
expenses 14,809 21,510 24,599 63,232 86,342
Operating
loss (3,856) (2,275) (2,801) (37,227) (11,672)
Interest and
other
income
(expense),
net (609) 580 486 (1,391) (10,275)
Net loss $(4,465) $(1,695) $(2,315) $(38,618) $(21,947)
Net loss per
share:
Basic and
diluted $(2.26) $(.08) $(.10) $(21.15) $(1.56)
Pro forma
basic and
diluted $(.30) $(.08) $(.10) $(2.74) $(1.15)
Weighted
average
shares
outstanding:
Basic and
diluted 1,978 21,922 22,223 1,826 14,102
Pro forma
basic and
diluted 14,834 21,922 22,223 14,099 19,138

Other data:
(Unaudited)
EBITDA:
Operating
loss $(3,856) $(2,275) $(2,801) $(37,227) $(11,672)
Add back:
Stock based
compensation 987 1,467 2,778 5,686 9,831
Pro forma
operating
income
(loss) (2,869) (808) (23) (31,541) (1,841)
Depreciation
of PP&E 1,512 1,576 1,438 5,507 5,919
Amortization
of DVD Library 2,075 4,663 5,849 22,127 17,417
Amortization
of Intangibles 684 808 808 2,163 3,141
Non-cash charges
for equity
granted to
non-employees -- 40 -- 28 40
EBITDA $1,402 $6,279 $8,072 $(1,716) $24,676
Pro forma net
income (loss):
Net loss $(4,465) $(1,695) $(2,315) $(38,618) $(21,947)
Add back:

Restructuring
charges -- -- -- 671 --

Stock-based
compensation 987 1,467 2,778 5,686 9,831
Non-cash
interest on
early
repayment
of debt -- -- -- -- 10,695
Pro forma net
income
(loss) $(3,478) $(228) $463 $(32,261) $(1,421)
Pro forma net
income (loss)
per share:
Pro forma
basic and
diluted $(.23) $(.01) $.02 $(2.29) $(.07)

Netflix, Inc.
Balance Sheets
(in thousands, except share and per share data)

As of
December 31,
2001 2002

Assets
Current assets:
Cash and cash equivalents $16,131 $59,814
Short-term investments -- 43,796
Prepaid expenses 1,019 2,753
Prepaid revenue sharing expenses 732 303
Other current assets 1,670 409
Total current assets 19,552 107,075
DVD library, net 3,633 9,972
Intangible assets, net 7,917 6,094
Property and equipment, net 8,205 5,620
Deposits 1,677 1,690
Other assets 646 79
Total assets $41,630 $130,530
Liabilities and Stockholders` (Deficit) Equity
Current liabilities:
Accounts payable $13,715 $20,350
Accrued expenses 4,544 9,102
Deferred revenue 4,937 9,743
Current portion of capital lease obligations 1,345 1,231
Notes payable 1,667 --

Total current liabilities 26,208 40,426
Deferred rent 240 288
Capital lease obligations, less current portion 1,057 460
Subordinated notes payable 2,799 --

Total liabilities 30,304 41,174
Commitments and contingency
Redeemable convertible preferred stock 101,830 --

Stockholders` (deficit) equity:
Convertible preferred stock, $0.001 par value;
8,500,000 shares authorized; 6 --
6,157,499 and no shares issued and outstanding
at December 31, 2001 and December 31, 2002,
respectively; aggregate liquidation preference
of $2,222 at December 31, 2001 and $0 at
December 31, 2002
Common stock, $0.001 par value; 100,000,000 and
150,000,000 shares 2 22
authorized at December 31, 2001 and December 31,
2002, respectively; 2,161,855 and 22,445,795
issued and outstanding at December 31, 2001 and
December 31, 2002, respectively
Additional paid-in capital 52,479 259,172
Deferred stock-based compensation (5,725) (11,399)
Accumulated other comprehensive income -- 774
Accumulated deficit (137,266) (159,213)
Total stockholders` (deficit) equity (90,504) 89,356
Total liabilities and stockholders`
(deficit) equity $41,630 $130,530

Netflix, Inc.
Statements of Cash Flows
(in thousands, except per share data)

Three Months Ended Year Ended
December 31, December 31,
2001 2002 2001 2002

Cash flows from
operating activities:
Net loss $(4,465) $(2,315) $(38,618) $(21,947)
Adjustments to
reconcile net loss to
net cash (used in)
provided by operating
activities:
Depreciation of
property, plant and
equipment 1,512 1,438 5,507 5,919
Amortization of DVD
library 2,075 5,849 22,127 17,417
Amortization of
intangible assets 684 808 2,163 3,141
Noncash charges for
equity instruments
granted to
non-employees -- -- 28 40
Stock-based compensation
expense 987 2,778 5,686 9,831
Gain on disposal of
DVDs - (205) -- (1,674)
Noncash interest expense 463 31 1,017 11,384
Changes in operating
assets and liabilities:
Prepaid expenses and
other current assets (631) 272 (15) (44)
Accounts payable 4,407 2,202 6,025 6,635
Accrued expenses (209) 994 (1,375) 4,558
Deferred revenue 1,474 2,564 2,164 4,806
Deferred rent 24 3 138 48
Net cash (used in)
provided by operating
activities 6,321 14,419 4,847 40,114
Cash flows from investing
activities:
Purchases of short-term
investments -- (408) -- (43,022)
Purchases of property
and equipment (565) (1,188) (3,233) (2,751)
Acquisitions of DVD
library (3,007) (8,756) (8,851) (24,070)
Proceeds from sale of
DVDs -- 210 -- 1,988
Deposits and other assets 100 21 (586) 554
Net cash used in
investing activities (3,472) (10,121) (12,670) (67,301)
Cash flows from
financing activities:
Proceeds from issuance
of common stock 31 1,414 125 88,020
Net proceeds from issuance
of subordinated notes
payable
and detachable warrants -- -- 12,831 --

Repurchases of common
stock (5) (3) (12) (6)
Principal payments on
notes payable and
capital lease
obligations (978) (216) (3,885) (17,144)
Net cash (used in)
provided by
financing
activities (952) 1,195 9,059 70,870
Net increase (decrease)
in cash and cash
equivalents 1,897 5,493 1,236 43,683
Cash and cash
equivalents,
beginning of period 14,234 54,321 14,895 16,131
Cash and cash
equivalents, end
of period $16,131 $59,814 $16,131 $59,814

Free Cash Flow:
Net cash provided
by operating
activities $6,321 $14,419 $4,847 $40,114
Purchases of property
and equipment (565) (1,188) (3,233) (2,751)
Acquisitions of DVD
library (3,007) (8,756) (8,851) (24,070)
Proceeds from
sale of DVDs -- 210 -- 1,988
Deposits and
other assets 100 21 (586) 554
Free Cash Flow $2,849 $4,706 $(7,823) $15,835

Supplemental disclosure:
Cash paid for interest $233 $121 $860 $592
Noncash investing and
financing activities:
Purchase of assets under
capital lease
obligations $520 $-- $520 $583
Discount on capital
lease obligation $-- $-- $172 $--
Exchange of Series F
non-voting convertible
preferred stock for
intangible asset $15 $-- $4,498 $1,318
Unrealized gain on
short-term investments $-- $171 $-- $774
Conversion of redeemable
convertible preferred
stock to common stock $-- $-- $-- $101,830


Netflix, Inc.
Other data:
(Unaudited)

Three Months Ended Year Ended
Dec 31, Sep 30, Dec 31, Dec 31, Dec 31,
2001 2002 2002 2001 2002
Subscribers:
New Trial Subscribers:
during period 227 277 315 566 1,140
New Trial Subscribers
year to year change 47% 159% 39% 10% 101%
New Trial Subscribers
quarter to quarter
sequential change 112% 17% 14%
Subscribers: end of
period 456 742 857 456 857
Subscribers year to
year change 56% 122% 88% 56% 88%
Subscribers quarter
to quarter
sequential change 37% 11% 15%
Free subscribers:
end of period 56 34 61 56 61
Free subscribers
as percentage of
ending subscribers 12.3% 4.6% 7.1% 12.3% 7.1%
Paid subscribers:
end of period 400 708 796 400 796
Subscriber churn
(monthly) 6.2% 7.2% 6.3%
Subscription
revenue per
average paid
subscriber (monthly) $19.92 $19.97 $19.94 $20.21 $20.15
Subscriber Acquisition
Cost $30.15 $33.57 $33.31 $37.16 $31.39
Margins:
Gross margin 50.7% 47.2% 48.2% 34.3% 48.9%
Operating margin (17.8%) (5.6%) (6.2%) (49.0%) (7.6%)
Pro forma operating
margin (13.3%) (2.0%) (0.1%) (41.5%) (1.2%)
Net margin (20.7%) (4.2%) (5.1%) (50.9%) (14.4%)
Pro forma net
margin (16.1%) (0.6%) 1.0% (42.5%) (0.9%)
Expenses as
percentage of
revenues:
Fulfillment 13.7% 12.0% 12.1% 17.7% 12.7%
Technology and
development 13.4% 9.7% 8.8% 23.4% 9.6%
Marketing 31.7% 22.8% 23.2% 27.7% 23.4%
General and
administrative 5.1% 4.6% 4.2% 6.1% 4.4%
Operating
expenses before
stock-based comp.
and restructuring 63.9% 49.2% 48.3% 74.9% 50.1%
Restructuring
charges 0.0% 0.0% 0.0% 0.9% 0.0%
Stock-based
compensation 4.6% 3.6% 6.1% 7.5% 6.4%
Total operating
expenses 68.5% 52.8% 54.4% 83.3% 56.5%
Year to year
change:
Subscription
revenues 59.5% 117.8% 110.6% 106.9% 103.1%
Sales revenues 100.0% 30.9% (18.0%) 100.0% 20.0%
Total revenues 61.4% 115.8% 109.0% 111.5% 101.3%
Fulfillment (17.1%) 49.5% 83.7% 31.3% 44.0%
Technology and
development (48.0%) (11.1%) 36.5% 5.4% (17.5%)
Marketing (6.9%) 170.0% 53.3% (18.3%) 70.1%
General and
administrative (57.3%) 86.4% 73.0% (33.4%) 44.6%
Operating
expenses before
stock-based
comp. and
restructuring (27.7%) 64.4% 57.9% (4.9%) 34.5%
Restructuring
charges 0.0% (100.0%) 0.0% 100.0% (100.0%)
Stock-based
compensation (55.9%) 20.2% 181.5% (35.4%) 72.9%
Total operating
expenses (30.6%) 52.7% 66.1% (7.8%) 36.5%




--------------------------------------------------------------------------------
Source: Netflix, Inc.

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netflix rocksssss


2:45PM Netflix -- Daily Breakout (NFLX) 13.69 +0.47: Shares of Netflix continue to hold towards five-month highs despite the challenging broader markets of late. The $300 mln market-cap company is an online entertainment subscription service in the United States that provides its subscribers with access to a comprehensive library of more than 11,500 movie, television and other filmed entertainment titles. EPS is projected next yr at $0.54 (p/e 25.0) on the basis of the `consensus` estimate from the two analysts formally covering the company.

[casinozock]

Netflix Surpasses One Million Subscribers
Thursday February 27, 8:00 am ET
Strong Customer Demand Shows Strength of Online Movie Rental Market


LOS GATOS, Calif., Feb. 27 /PRNewswire-FirstCall/ -- Netflix (Nasdaq: NFLX - News), the world`s largest online movie rental service announced today it has surpassed one million subscribers. Netflix has nearly doubled its subscriber base each year since shifting to a subscription model in 1999, reaching one million members in less time than media giant AOL.
ADVERTISEMENT


"We are excited and proud to have reached the one millionth subscriber level in record time while still early in the consumer adoption curve," said Reed Hastings, CEO and founder. "Our unrelenting focus on creating the best movie rental experience for our subscribers, along with the rapid adoption of DVDs, has propelled our growth to date. That growth will continue based on consumer enthusiasm for overnight delivery, no late fees and the largest library of DVDs available anywhere."

Unsurpassed Selection

An extensive library of more than 13,500 titles -- far more than can be found at a neighborhood video store -- helps ensure members can view everything from the latest big Hollywood releases to hard-to-locate documentaries and independent films.

Better Movie Choices

Netflix makes it easier for members to find and discover movies they will enjoy. When members rate movies, Netflix customizes its site based on a member`s movie tastes thereby making a library of more than 13,500 titles relevant and easily accessible. Members rented 97 percent of Netflix`s movie titles in January, proving the efficiency with which the company recommends films.

Free and Fast Delivery

Members enjoy free shipping both ways, with more than 50 percent of members reached by generally next-day service. Netflix operates 16 shipping centers -- key to providing overnight delivery -- and plans to open more shipping centers throughout the country in 2003. By the end of the year, Netflix will increase the number of members reached with generally next-day service to 70 percent.

About Netflix

Launched in 1998, Netflix is the world`s largest online subscription-based movie rental service, providing more than 1,000,000 subscribers with access to a comprehensive library of more than 13,500 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from shipping centers throughout the United States. Netflix can reach more than half of its subscribers with next-day service. The company also provides background information on DVD releases, including critic reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the continued growth and the anticipated number and timing of our roll out of our shipping centers. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to manage our growth; impacts to our operating margins; and, operating constraints or difficulties. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our final prospectus dated May 22, 2002, relating to our initial public offering. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.




--------------------------------------------------------------------------------
Source: Netflix

[casinozock]

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Netflix Rockssssss

Motley Fool
Netflix`s Million Man March
Friday February 28, 8:42 am ET
By Rick Aristotle Munarriz


When Netflix (Nasdaq: NFLX - News) closed out 2002 with 857,000 subscribers and announced it would land its millionth member by the end of the first quarter, it was an ambitious goal.

With Wal-Mart (NYSE: WMT - News) and Blockbuster (NYSE: BBI - News) rolling out similar online DVD rental services, pundits figured there was no way the company could grow fast enough to hit that mark come March.

The pundits were right. Netflix nailed the milestone in February.

The dot-com trendsetter may be taking liberties by asserting it hit the million-member mark quicker in its lifecycle than AOL Time Warner`s (NYSE: AOL - News) America Online service (we weren`t as wired a decade ago), but the growth spurt is impressive, regardless.

While Blockbuster continues to argue movie rentals are an impulse decision that won`t translate well online and Wal-Mart buries rentals on its website, Netflix opened 17 different distribution centers and produced $15.8 million in free cash flow last year.

There`s strength in numbers. Netflix provides a sticky service, and the dynamics just keep improving. As terror alerts spin the color wheel and soaring gas prices make staying at home a compelling cost-saving alternative, Netflix is there to serve the tired, the weary -- the couch potato.

The stock has almost doubled since being featured in November`s The Motley Fool Select, trading above its $15 IPO price for the first time since shortly after last year`s market debut.

Last month, the company projected it would produce cash flow of at least $40 million this year, with revenue climbing by at least 54% to fall between $235 million and $255 million. If users keep flocking to the site and its monthly DVD rental service in large numbers, those figures will no doubt appear conservative in retrospect.

If only investing came with a fast-forward button, we could see how this Stocks 2003 company will fare this year.

[casinozock]

10:04AM Netflix started with Buy at Roth Capital (NFLX) 16.40 +0.15: Firm initiates coverage with a Buy rating and 12-month price target of $20.

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Netflix Opens New Shipping Center
Monday March 17, 6:01 am ET
Expands One-Day Delivery to South Florida Customers


LOS GATOS, Calif., March 17 /PRNewswire-FirstCall/ -- Netflix (Nasdaq: NFLX - News), the world`s largest online movie rental service, today announced the opening of a Fort Lauderdale shipping center to serve the greater south Florida area. As previously announced, Netflix plans to open multiple shipping centers in 2003 as part of its ongoing strategy to provide one-day movie delivery to its members. By year-end 2003, Netflix expects that it will be able to reach more than 70 percent of its subscribers with generally next-day service.
ADVERTISEMENT


"The Netflix shipping centers provide an extra `wow` factor to an already great home-entertainment experience," said Reed Hastings, Netflix CEO and co-founder. "Members are thrilled with the improved delivery times that these facilities provide."

The continued opening of shipping centers reinforces Netflix`s leadership in the online movie rental market that it pioneered. The centers strive to regionally replicate the company`s success and experience in the San Francisco Bay Area. Netflix opened its first facility five years ago in the Bay Area, and today 3.8 percent of all households in the Bay Area are Netflix subscribers. The region has received generally next-day delivery for four years.

The new facility, located in Fort Lauderdale, is capable of providing generally one- and two-day turnaround service to the more than 5 million residents living in Broward, Miami-Dade, and Palm Beach Counties. It brings to 17 the total number of shipping centers Netflix has opened since early 2002. In addition to Fort Lauderdale, Netflix runs shipping centers in Atlanta, Boston, Dallas, Denver, Detroit, Houston, Los Angeles, Minneapolis, New York, Newark, Phoenix, Philadelphia, San Jose, Stamford, Seattle, and Washington, DC, metropolitan areas.

About Netflix

Launched in 1998, Netflix is the world`s largest online movie rental service, providing more than one million subscribers with access to a comprehensive library of more than 13,500 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from shipping centers throughout the United States. Netflix can reach more than half of its subscribers with generally next-day delivery. The company also provides background information on DVD releases, including critic reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the anticipated number and timing of our roll out of our shipping centers, the impact these centers will have on Netflix`s leadership position and our ability to replicate regionally the successes of the San Francisco Bay area. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to attract new subscribers and retain existing subscribers; the risk that the San Francisco Bay area is not indicative of likely behavior in the rest of the country; our ability to manage our growth; impacts to our operating margins; and, operating constraints or difficulties. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our final prospectus dated May 22, 2002, relating to our initial public offering. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[casinozock]

3:02PM Netflix attempts breakout (NFLX) 17.99 +1.44: Traders working hard to push this heavily shorted stock to a new all-time high. After an 8.5% move today on 2x avg volume, stock has pulled up just short of its $18.20 all-time high set July 5. Will be one to watch over the next several days as momentum players press the name, and shorts attempt to sabbotage the move by borrowing all the shares they can to keep stock below intraday resistance at $18.00. Short-interest in this name represents more than 32% of the 13.7 mln share float.

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Investor`s Business Daily
Online DVD Rental Service Netflix Eyes Starring Role With Consumers
Tuesday March 18, 10:17 am ET
By Patrick Seitz


With more than 1 million subscribers, Netflix Inc. (NasdaqNM:NFLX - News) might have reached critical mass.
The online DVD rental service now is more than just a niche player in the movie rental market. At least, so says its CEO.

"A million subscribers is more than just a big round number. It really could be a big inflection point for us in terms of becoming an enduring part of the consumer landscape," said Netflix Chief Executive Reed Hastings.

It took Netflix three and a half years to reach a million subscribers. By comparison, it took America Online six years, Hastings says.

Netflix accomplished the feat with virtually no TV, radio or print ads. It uses online banner ads and pop-under ads, as well as promotions packaged with most new digital video disc players. It also has a marketing deal with Best Buy Co.

Goal: 5 Million Subscribers

It benefits from great word of mouth, analysts say. The company gets nearly a third of its subscribers from customer referrals.

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Netflix has avoided the mistakes of some dot-com flameouts. "We didn`t do dumb stuff like Super Bowl ads," Hastings said. "We didn`t fall victim to the hype and hysteria of the Internet bubble."

Netflix hit the 1 million-subscriber milestone in late February. A year earlier, it had 500,000 subscribers.

The goal now is 5 million subscribers in four to seven years, Hastings says. That would require annual growth of 30% to 50%.

A key factor in Netflix`s growth has been its use of local distribution centers. It now has 17 regional shipping centers. That lets Netflix deliver DVDs overnight to subscribers. About half of Netflix subscribers now get next-day delivery. Netflix wants to get to 70% by year-end.

Netflix has been opening about one new center a month, most recently in Fort Lauderdale, Fla. Priorities for new centers include Chicago and St. Louis, he says. It aims to have 25 regional shipping centers by year-end.

"Overnight delivery has a wow factor with consumers," Hastings said. "They just can`t believe it, because it`s free to them. That wow factor is what gets them to tell their friends about Netflix."

Netflix hopes to duplicate the success it`s had in the San Francisco Bay area, where about 4% of the region`s 2 million households are subscribers. In San Francisco, Netflix has 5% household penetration.

Based in Los Gatos, Calif., Netflix has seen faster subscriber growth where it`s added overnight delivery.

"As they increase their customer base, the momentum itself creates more rapid growth," said Safa Rashtchy, an analyst with U.S. Bancorp Piper Jaffray. "All of a sudden people kind of know that this is a service that`s really good and they tell others, `You`ve got to get it.` "

Netflix subscribers pay $19.95 a month to rent as many DVDs as they want, with three movies out at a time. There are no due dates or late fees. DVDs are delivered directly to subscribers` homes by first-class mail and come with postage-paid return envelopes. Netflix has a library of more than 13,500 titles - far more than can be found at a neighborhood video store.

Netflix has quieted doubters who questioned the size of the market and whether it could be profitable, Rashtchy says. Rashtchy doesn`t own shares in Netflix, but his firm has done investment banking for the company.

Cash-Flow Positive

Last quarter, Netflix had sales of $45.2 million, up 109% vs. the year-earlier period. It reported pro forma net income of 2 cents a share vs. a loss of 23 cents a share in fourth-quarter 2001.

The company expects sales this year of $235 million to $255 million vs. $152.8 million last year.

Netflix has been cash-flow positive for five straight quarters. Last year, it generated $15.8 million of positive cash flow. The company, one of the few tech IPOs last year, went public in May at 15 and trades near its all-time high of 18. In these slow times, that`s good. IBD gives it a Relative Strength Rating of 92, meaning it`s performed in the top 7% of all stocks the last 12 months.

Netflix has kept subscriber acquisition costs at about $33 per new subscriber for the last few quarters. By comparison, AOL spends more than $100 for each new subscriber, Hastings says.

Netflix has managed to keep churn low. The percentage of subscribers who quit the service was 6.3% a month last quarter, down from 7.2% in the third quarter of 2002. That churn figure includes people who signed up for free trials.

The churn rate has declined from about 10% two and a half years ago, says Hastings, who`s also president of the California State Board of Education. He says digital cable and HBO have churn rates of 9%-11%.

Blockbuster Inc. and Wal-Mart Stores Inc. each have started their own online DVD rental service. But neither is much of a threat to Netflix, analysts say.

The barriers to entry for other companies get larger every day, Rashtchy says. As Netflix adds subscribers and regional distribution centers, it will be more costly and difficult for rivals to catch up, he says.

"The competition is not out there as aggressively as some investors had feared," said Gordon Hodge, a securities analyst with Thomas Weisel Partners. Hodge doesn`t own shares in Netflix, but his firm has done investment banking for the company.

Netflix continues to benefit from the increased penetration of DVD players into U.S. homes, Hodge says. Nearly half of U.S. homes now have DVD players.

Netflix has "a pretty powerful business model," Hodge says. "It doesn`t have to be very mainstream to be incredibly profitable. They`re profitable today and they have only 0.73% penetration of the U.S. TV household market."

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Netflix Opens Oregon Shipping Center
Monday March 24, 6:00 am ET
Expands One-Day Delivery to Greater Portland and Western Oregon


LOS GATOS, Calif., March 24 /PRNewswire-FirstCall/ -- Netflix (Nasdaq: NFLX - News), the world`s largest online movie rental service, today announced the opening of a shipping center to serve the greater Portland, OR, area. As previously announced, Netflix plans to open multiple shipping centers in 2003 as part of its ongoing strategy to provide one-day movie delivery to its members. By year-end 2003, Netflix expects that it will be able to reach more than 70 percent of its subscribers with generally next-day delivery.
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"Netflix members already love the convenience of receiving movies in their mailboxes," said Reed Hastings, Netflix CEO and co-founder. "The added value of one-day delivery makes them even bigger fans."

The continued opening of shipping centers reinforces Netflix`s leadership in the online movie rental market that it pioneered. The centers strive to regionally replicate the company`s success and experience in the San Francisco Bay Area. Netflix opened its first facility five years ago in the Bay Area, and today 3.8 percent of all households in the Bay Area are Netflix subscribers. The region has received generally next-day delivery for four years.

The new facility is capable of providing generally one-day delivery to the more than 80 percent of Oregon`s population. It brings to 18 the total number of shipping centers Netflix has opened since early 2002. In addition to the Portland-area facility, Netflix runs shipping centers in Atlanta, Boston, Dallas, Denver, Detroit, Fort Lauderdale, Houston, Los Angeles, Minneapolis, New York, Newark, Phoenix, Philadelphia, San Jose, Stamford, Seattle, and Washington, DC, metropolitan areas.

About Netflix

Launched in 1998, Netflix is the world`s largest online movie rental service, providing more than one million subscribers with access to a comprehensive library of more than 13,500 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from shipping centers throughout the United States. Netflix can reach more than half of its subscribers with generally next-day delivery. The company also provides background information on DVD releases, including critic reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the roll out of additional shipping centers, the impact these centers will have on Netflix`s leadership position and our ability to replicate regionally the successes of the San Francisco Bay area. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to attract new subscribers and retain existing subscribers; the risk that the San Francisco Bay area is not indicative of likely behavior in the rest of the country; our ability to manage our growth; impacts to our operating margins; and, operating constraints or difficulties. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our final prospectus dated May 22, 2002, relating to our initial public offering. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.




--------------------------------------------------------------------------------
Source: Netflix

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Netflix Announces First Quarter 2003 Ending Subscribers of 1,052,000, Up 74% Over the Prior Year
Tuesday April 1, 6:32 pm ET


LOS GATOS, Calif., April 1 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the first quarter of 2003 with approximately 1,052,000 total subscribers, 27,000 subscribers above the high end of the Company`s guidance of 1,025,000. Subscribers grew 74 percent year-over-year from 603,000 total subscribers at the end of the first quarter of 2002 and 23 percent sequentially from 857,000 total subscribers at the end of the fourth quarter of 2002.
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Paid Subscribers

Of the 1,052,000 total subscribers at quarter end, 96 percent or 1,009,000 were paying subscribers. The other 4 percent, or 43,000 subscribers, were new trial subscribers. Paying subscribers represented 93 percent of total subscribers at the end of the first quarter of 2002 and 93 percent of total subscribers at the end of the fourth quarter of 2002.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 4.6 percent of households at the end of the first quarter of 2003, up from 3.8 percent at the end of the fourth quarter of 2002 and up from 2.8 percent at the end of the first quarter of 2002. Household penetration in the rest of the country reached 0.90 percent at the end of the first quarter of 2003, up from 0.73 percent at the end of the fourth quarter of 2002 and up from 0.57 percent at the end of the first quarter of 2002.(1) Market research firm NPDTechWorld estimates that 50.5 percent of all U.S. households had a standalone DVD player as of the end of February 2003.

First Quarter Earnings Release

Netflix will release its first quarter 2003 financial results on Thursday, April 17, 2003 after the market close. A web cast of the quarterly conference call will begin at 2 PM PDT and can be accessed via the web at www.netflix.com or at www.prnewswire.com.

About Netflix

Netflix is the world`s largest online movie rental service providing more than one million subscribers access to over 14,500 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than half its subscribers with generally next-day delivery. The Company provides subscribers extensive information about DVD movies including critic reviews, member reviews, online trailers, ratings and personalized movie recommendations. For more information visit www.netflix.com.

(1) In updating our household penetration statistics we discovered that Rancho Santa Fe, California contained additional households and that our penetration in Rancho Santa Fe was 4% as opposed to the previously reported 26%. There was no adjustment to our subscriber numbers used in the calculation. The change was merely the result of revised population data. There was also no change in previously reported penetration figures for our major metropolitan areas.



--------------------------------------------------------------------------------
Source: Netflix, Inc.

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Netflix Reports First Quarter Revenue of $56 Million, Up 82% Year Over Year. Raises Guidance for 2003.
Thursday April 17, 4:06 pm ET
- Revenue of $55.7 million, up 82 percent year-over-year and up 23 percent sequentially. - Non-GAAP net income of $31,000 or $0.00 per basic and diluted share. GAAP net loss of $4.5 million or $0.20 per basic and diluted share. - EBITDA of $8.4 million, up 117 percent year-over-year and up 4 percent sequentially. GAAP operating loss of $4.9 million. - Non-GAAP free cash flow of $5.5 million for the first quarter and $20.6 million for the twelve months ended March 31, 2003. GAAP net cash provided by operating activities of $12.8 million for the first quarter and $46.4 million for the twelve months ended March 31, 2003.


LOS GATOS, Calif., April 17 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) announced strong financial results for the first quarter ended March 31, 2003. According to Reed Hastings, founder and CEO of Netflix, "The Company broadly outperformed its financial expectations for the quarter. Our strategic focus on improving the Netflix user experience, which produced record low churn and a lower gross margin this quarter, has created a better business model, accelerating the growth of revenue and non-GAAP net income for the full year 2003 and beyond."
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Revenue, Subscribers, and Churn

Total revenue for the first quarter was a record $55.7 million, up 82 percent compared to $30.5 million for the first quarter 2002, and up 23 percent compared to $45.2 million for the fourth quarter 2002.

Netflix ended the first quarter of 2003 with approximately 1,052,000 total subscribers. During the quarter Netflix acquired 417,000 new trial subscribers, a 34 percent year-over-year increase from the 312,000 new trial subscribers acquired in the first quarter of 2002 and a sequential increase of 32 percent over the 315,000 new trial subscribers acquired in the fourth quarter of 2002. For a graphical presentation of the Company`s household penetration growth for those metropolitan shipping centers opened for more than six months, please link to http://ir.netflix.com/news/hubgrowth.pdf

Average monthly subscriber churn for the first quarter of 2003 was 5.8 percent as compared to 7.2 percent in the first quarter of 2002 and 6.3 percent in the fourth quarter of 2002. Churn includes free trial subscribers as well as paying subscribers who elect not to renew their monthly subscription service during the quarter. Churn rates were better than expected throughout the quarter for free trial and paying subscribers.

Gross Margin

Gross margin for the first quarter was 46.1 percent, down from 48.2 percent in the fourth quarter of 2002. Disc usage per average paid subscriber increased 15 percent during the first quarter. This increase resulted in a lower gross margin for the quarter. Increased disc usage resulted from faster local delivery of DVDs to the Company`s subscribers. Faster delivery was enabled by certain software and operational improvements to the Company`s fulfillment operations during the quarter, including the roll-out of five additional metropolitan shipping centers.

Subscriber Acquisition Cost

Subscriber acquisition cost(1) for the first quarter was $31.67 per new-trial subscriber compared to a cost of $25.44 for the first quarter 2002 and a cost of $33.31 for the fourth quarter 2002.

Non-GAAP Net Income, EBITDA, and Free Cash Flow

Netflix reported non-GAAP net income of $31,000, or $0.00 per diluted share, for the first quarter of 2003 compared to a non-GAAP net loss of $1.7 million, or a loss of $0.81 per diluted share, for the first quarter of 2002 and non-GAAP net income of $463 thousand, or $0.02 per diluted share, for the fourth quarter of 2002. Non-GAAP net income equals net loss on a GAAP basis before stock-based compensation expense. GAAP net loss was $4.5 million, or $0.20 per basic and diluted share, for the first quarter of 2003 compared to a GAAP net loss of $4.5 million, or $2.20 per basic and diluted share for the first quarter of 2002 and GAAP net loss of $2.3 million, or $0.10 per basic and diluted share, for the fourth quarter of 2002.

EBITDA for the first quarter 2003 was $8.4 million, up 117 percent compared to $3.9 million for the first quarter ended 2002 and up 4 percent compared to $8.1 million for the fourth quarter ended 2002. Earnings before interest, taxes, depreciation and amortization ("EBITDA") is defined as operating loss before stock-based compensation, depreciation of property and equipment, amortization of DVD library, amortization of intangibles, non-cash charges for equity granted to non-employees and loss on disposal of property and equipment.

Free cash flow for the first quarter 2003 was $5.5 million or 10 percent of revenue, up 671 percent from $0.7 million in the first quarter 2002 and up 16 percent compared to $4.7 million for the fourth quarter ended 2002. For the twelve months ended March 31, 2003, the Company generated $20.6 million of free cash flow and finished the first quarter with $110.3 million of cash and short-term investments. Less outstanding debt of $1.3 million, this equates to net cash of $109.0 million or $4.75 per issued and outstanding share. Non-GAAP free cash flow is defined as net cash provided by operating activities less net cash used in investing activities excluding purchases of short-term investments. Cash provided by operating activities for the first quarter 2003 was $12.8 million up 97 percent from $6.5 million in the first quarter 2002 and down 11 percent compared to $14.4 million for the fourth quarter ended 2002.

Non-GAAP Estimated Subscriber Lifetime Value

The lifetime value of a Netflix subscriber increased 25% from the first quarter of 2002, as record low churn extended the expected average lifetime of a subscriber. The resulting 24% increase in lifetime revenue more than offset the higher costs associated with increased DVD usage during the quarter. Lifetime EBITDA increased to an estimated $102 per subscriber from $82 in the prior year.

Use of Non-GAAP Measures

In order to fully assess the Company`s financial results, management believes that Non- GAAP Net Income, EBITDA, Free Cash Flow and Estimated Subscriber Lifetime Value are appropriate measures of evaluating the operating and liquidity performance of the Company because it believes that investors and equity research analysts use these non-GAAP measures to evaluate its performance and to make informed investment decisions. Management also believes that these measures present a more representative measure of the operating and liquidity performance of the Company because they exclude the non-cash impact of stock option accounting. However, these non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, operating income, net income, net cash provided by operating activities, or other financial measures prepared in accordance with GAAP. A detailed reconciliation to the GAAP equivalents of these Non-GAAP measures is contained in tabular form on the attached unaudited financial statements.

Business Outlook

The Company`s performance expectations for the second quarter of 2003 and the full year 2003 are as follows:

Second Quarter, 2003
Ending subscribers of 1,110 to 1,160 thousand
Revenue of $60 to $64 million
Non-GAAP net income of $0.5 and $3.0 million.
EBITDA of $10 to $13 million
Full Year 2003
Revenue of $255 to $275 million
Non-GAAP net income of $6 to $9 million.
EBITDA of $47 to $55 million
Other Metrics: for the balance of the year, the Company expects
gross margin, average monthly churn, and SAC to be in the following

ranges;

-- Gross margin of 42 to 44 percent
-- Churn of 5 to 6.25 percent
-- SAC of $32 to $36


Float, Lock-Up Expiration, and Diluted Shares

The Company estimates the public float at approximately 13,733,944 shares as of March 31, 2003 based on 22,977,497 shares issued and outstanding less approximately 9,263,553 shares that are controlled by insiders, directors or executive officers of Netflix. The IPO lock-up has expired, and no outstanding shares are subject to a lock-up agreement of any kind. From time to time executive officers of Netflix may elect to sell stock in Netflix. All such sales are made pursuant to the terms of 10(b)5-1 Trading Plans.

Earnings Call

The Netflix earnings call will be web cast today at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time, and may be accessed at http://www.netflix.com or at http://www.prnewswire.com. Following the conclusion of the web cast, a replay of the call will be available via Netflix`s web site at http://www.netflix.com . A telephone replay is also available at 719-457-0820 access code 482749.

About Netflix

Netflix is the world`s largest online movie rental service providing more than one million subscribers access to over 14,500 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from metropolitan shipping centers located throughout the United States. Netflix can reach more than half its subscribers with generally next-day delivery. The Company provides subscribers extensive information about DVD movies including critic reviews, member reviews, online trailers, ratings and personalized movie recommendations. For more information visit www.netflix.com.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber growth, revenues, non-GAAP net income, and EBITDA for the second quarter of 2003; our revenue, non-GAAP net income, EBITDA, gross margins, churn and subscriber acquisition costs for 2003 and subscriber lifetime value calculations. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to manage our growth, in particular managing our subscriber acquisition costs as well as the mix between revenue sharing titles and titles not subject to revenue sharing that are delivered to our subscribers; our ability to attract new subscribers and retain existing subscribers; fluctuations in consumer spending on DVD players, DVDs and related products; competition; disruption in service on our website or with our computer systems; deterioration of the U.S. economy or conditions specific to online commerce or the filmed entertainment industry; conditions that effect our delivery through the U.S. Postal Service, including increases in first class postage; increases in the costs of acquiring DVDs; and, widespread consumer adoption of different modes of viewing in-home filmed entertainment. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the SEC on March 31, 2003. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

(1) "Subscriber acquisition cost" or SAC is defined as the total marketing expense on the Company`s Statement of Operations divided by total new trial subscribers in the quarter.
Netflix, Inc.
Statements of Operations
(Unaudited)
(in thousands, except per share data)

Three Months Ended
Mar 31, 2002 Dec 31, 2002 Mar 31, 2003
Revenues:
Subscription $30,069 $44,978 $55,281
Sales 458 210 388
Total revenues 30,527 45,188 55,669
Cost of revenues:
Subscription 14,872 23,246 29,928
Sales 286 144 79
Total cost of revenues 15,158 23,390 30,007
Gross profit 15,369 21,798 25,662
Operating expenses:
Fulfillment 4,155 5,449 6,383
Technology and development 3,181 3,960 4,183
Marketing 7,938 10,492 13,207
General and administrative 1,309 1,920 2,248
Stock-based compensation 2,840 2,778 4,552
Total operating expenses 19,423 24,599 30,573
Operating loss (4,054) (2,801) (4,911)
Other income (expense):
Interest and other income 74 637 581
Interest and other expense (528) (151) (191)
Net loss $(4,508) $(2,315) $(4,521)
Net loss per share:
Basic and diluted $(2.20) $(.10) $(.20)
Weighted average shares
outstanding:
Basic 2,047 22,223 22,737
Diluted 7,019 26,919 29,786

Reconciliation of Non-GAAP
Financial Measures
(Unaudited)
EBITDA reconciliation:
Operating loss $(4,054) $(2,801) $(4,911)
Add back:
Stock-based compensation 2,840 2,778 4,552
Non-GAAP operating income
(loss) (1,214) (23) (359)
Depreciation of property and
equipment 1,457 1,438 1,333
Amortization of DVD library 2,917 5,849 6,620
Amortization of intangibles
assets 706 808 809
EBITDA $3,866 $8,072 $8,403
Non-GAAP net income (loss)
reconciliation:
Net loss $(4,508) $(2,315) $(4,521)
Add back:
Stock-based compensation 2,840 2,778 4,552
Non-GAAP net income (loss) $(1,668) $463 $31
Non-GAAP net income (loss)
per share:
Diluted $(.81) $.02 $--


Netflix, Inc.
Balance Sheets
(Unaudited)
(in thousands, except share and per share data)

As of
December 31, March 31,
2002 2003
Assets
Current assets:
Cash and cash equivalents $59,814 $66,028
Short-term investments 43,796 44,304
Prepaid expenses 2,753 2,066
Prepaid revenue sharing
expenses 303 622
Other current assets 409 174
Total current assets 107,075 113,194
DVD library, net 9,972 9,740
Intangible assets, net 6,094 5,285
Property and equipment, net 5,620 4,848
Deposits 1,690 1,694
Other assets 79 868
Total assets $130,530 $135,629

Liabilities and Stockholders`
(Deficit) Equity
Current liabilities:
Accounts payable $20,350 $22,218
Accrued expenses 9,102 9,525
Deferred revenue 9,743 11,227
Current portion of capital
lease obligations 1,231 940
Notes payable -- --
Total current liabilities 40,426 43,910
Deferred rent 288 279
Capital lease obligations, less
current portion 460 376
Note payable -- --
Subordinated notes payable, net of
unamortized
discount of $10,851 at
December 31, 2001 -- --
Total liabilities 41,174 44,565
Commitments and contingencies
Redeemable convertible preferred stock -- --

Stockholders` (deficit) equity:
Common stock, $0.001 par value; 150,000,000
shares authorized at December 31, 2002
and March 31, 2003; 22,445,795 and
22,977,497 issued and outstanding at
December 31, 2002 and March 31, 2003,
respectively 22 23
Additional paid-in capital 259,172 264,765
Deferred stock-based compensation (11,399) (10,892)
Accumulated other comprehensive income 774 902
Accumulated deficit (159,213) (163,734)
Total stockholders` (deficit)
equity 89,356 91,064
Total liabilities and stockholders`
(deficit) equity $130,530 $135,629

Netflix, Inc.
Statements of Cash Flows
(Unaudited)
(in thousands, except per share data)

Three Months Ended
March 31, December 31, March 31
2002 2002 2003

Cash flows from operating activities:
Net loss $(4,508) $(2,315) $(4,521)
Adjustments to reconcile net loss to
net cash (used in) provided by
operating activities:
Depreciation of property and
equipment 1,457 1,438 1,333
Amortization of DVD library 2,917 5,849 6,620
Amortization of intangible assets 706 808 809
Stock-based compensation expense 2,840 2,778 4,552
Gain on disposal of DVDs (283) (205) (367)
Noncash interest expense 395 31 32
Changes in operating assets and
liabilities:
Prepaid expenses and other current
assets (773) 272 603
Accounts payable 2,577 2,202 1,868
Accrued expenses (186) 994 423
Deferred revenue 1,350 2,564 1,484
Deferred rent 13 3 (9)
Net cash (used in) provided by
operating activities 6,505 14,419 12,827
Cash flows from investing activities:
Purchases of short-term investments -- (408) (380)
Purchases of property and equipment (95) (1,188) (561)
Acquisitions of DVD library (6,161) (8,756) (6,409)
Proceeds from sale of DVDs 458 210 388
Deposits and other assets -- 21 (793)
Net cash used in investing
activities (5,798) (10,121) (7,755)
Cash flows from financing activities:
Proceeds from issuance of common stock 87 1,414 1,549
Repurchases of common stock -- (3) --
Principal payments on notes payable
and capital lease obligations (1,254) (216) (407)
Net cash provided by financing
activities (1,167) 1,195 1,142
Net increase in cash and cash
equivalents (460) 5,493 6,214
Cash and cash equivalents, beginning of
period 16,131 54,321 59,814
Cash and cash equivalents, end of
period $15,671 $59,814 $66,028

Non-GAAP Free Cash Flow reconciliation:
Net cash provided by operating
activities $6,505 $14,419 $12,827
Purchases of property and equipment (95) (1,188) (561)
Acquisitions of DVD library (6,161) (8,756) (6,409)
Proceeds from sale of DVDs 458 210 388
Deposits and other assets -- 21 (793)
Non-GAAP Free Cash Flow $707 $4,706 $5,452

Supplemental disclosure:
Cash paid for interest $136 $121 $158
Noncash investing and financing activities:
Purchase of assets under capital lease
obligations $583 $-- $--
Exchange of Series F non-voting
convertible preferred stock for
intangible asset $1,213 $-- $--
Unrealized gain on short-term
investments $-- $171 $128


Netflix, Inc.
Other data
(Unaudited)
(in thousands, except subscriber acquisition cost)


Three Months Ended
Mar 31, 2002 Dec 31, 2002 Mar 31, 2003

Subscribers:
New Trial Subscribers:
during period 312 315 417
New Trial Subscribers year
to year change 117% 39% 34%
New Trial Subscribers quarter
to quarter sequential change 37% 14% 32%
Subscribers: end of period 603 857 1,052
Subscribers year to year change 99% 88% 74%
Subscribers quarter to
quarter
sequential change 32% 15% 23%
Free subscribers: end of period 41 61 43
Free subscribers as percentage
of ending subscribers 6.8% 7.1% 4.1%
Paid subscribers: end of period 562 796 1,009
Year to year change 93% 99% 80%
Qtr. to Qtr. sequential change 41% 12% 27%
Subscriber churn (monthly) 7.2% 6.3% 5.8%
Subscriber Acquisition Cost $25.44 $33.31 $31.67

Margins:
Gross margin 50.3% 48.2% 46.1%
EBITDA margin 12.7% 17.9% 15.1%
Operating margin (13.3%) (6.2%) (8.8%)
Non-GAAP operating margin (4.0%) (0.1%) (0.6%)
Net margin (14.8%) (5.1%) (8.1%)
Non-GAAP net margin (5.5%) 1.0% 0.1%
Expenses as percentage of
revenues:
Fulfillment 13.6% 12.1% 11.5%
Technology and development 10.4% 8.8% 7.5%
Marketing 26.0% 23.2% 23.7%
General and administrative 4.3% 4.2% 4.0%
Operating expenses before
stock-based compensation 54.3% 48.3% 46.7%
Stock-based compensation 9.3% 6.1% 8.2%
Total operating expenses 63.6% 54.4% 54.9%
Year to year change:
Subscription revenues 76.3% 110.6% 83.8%
Sales revenues 100.0% (18.0%) (15.3%)
Total revenues 79.0% 109.0% 82.4%
Fulfillment 15.0% 83.7% 53.6%
Technology and development (41.9%) 36.5% 31.5%
Marketing 19.3% 53.3% 66.4%
General and administrative (13.5%) 73.0% 71.7%
Operating expenses before
stock-based compensation (3.9%) 57.9% 56.9%
Stock-based compensation 39.0% 181.5% 60.3%
Total operating expenses 0.7% 66.1% 57.4%



Non-GAAP Estimated Subscriber Lifetime Value*

Three Months Ended
March 31, March 31,
2002 2003 Calculation
Methodology

Monthly subscription charge $19.95 $19.95 Standard subscription
fee for three out
program

Monthly churn 7.2% 5.8% Reported churn rate
Implied subscriber lifetime
(months) 13.9 17.2 Reciprocal of reported
churn

Implied lifetime revenue $277 $343 Implied subscriber life
multiplied by monthly
subscription charge
Cost of revenues 137 185 Reported costs of
revenue margin
multiplied by implied
lifetime revenue
Gross profit per subscriber 140 158
Gross Margin 50.4% 46.1%

Operating expenses:
Fulfillment 38 39 Reported GAAP-based
fulfillment expense
margin multiplied by
implied lifetime
revenue
Technology and development 29 25 Reported GAAP-based
T&D expense margin
multiplied by implied
lifetime revenue
Marketing 25 32 Reported subscriber
acquisition cost (SAC)
General and administrative 12 14 Reported GAAP-based G&A
expense margin
multiplied by
implied lifetime
revenue
Total Operating expenses 104 110
Non-GAAP operating income $36 $48
Addback: Depreciation
& amortization 46 54 Reported GAAP-based
depreciation &
amortization margin
multiplied by implied
lifetime revenue
EBITDA $82 $102

EBITDA reconciliation:
Operating income $10 $20
Addback: Stock-based
compensation 26 28 Reported GAAP-based
stock-based
compensation expense
margin multiplied by
implied lifetime
revenue
Non-GAAP operating income 36 48
Addback: Depreciation &
amortization 46 54
EBITDA $82 $102

*This calculation is intended to reflect income from a hypothetical
subscriber paying a monthly fee of $19.95 and is not intended to reflect
a revenue per subscriber calculation. Numbers have been rounded.


Non-GAAP Guidance Reconciliation Schedule

Second Quarter, 2003
Guidance Range

Non-GAAP net income (loss) reconciliation:
Net income (loss) $(600) $400
Add back:
Stock-based compensation 1,100 2,600
Non-GAAP net income (loss) $500 $3,000

EBITDA reconciliation:
Operating loss $(1,100) $(100)
Add back:
Stock-based compensation 1,100 2,600
Depreciation and amortization 10,000 10,500
EBITDA $10,000 $13,000


Fiscal Year, 2003
Guidance Range

Non-GAAP net income (loss) reconciliation:
Net income (loss) $(2,500) $(4,000)
Add back:
Stock-based compensation 8,500 13,000
Non-GAAP net income (loss) $6,000 $9,000

EBITDA reconciliation:
Operating loss $(3,800) $(5,500)
Add back:
Stock-based compensation 8,500 13,000
Depreciation and amortization 42,300 47,500
EBITDA $47,000 $55,000




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[casinozock]

Netflix ROCKSSSSSSSS


Dow Jones Business News
Netflix Revenue Surges 82%; Company Boosts Outlook
Thursday April 17, 6:39 pm ET


NEW YORK -- Netflix Inc.`s first-quarter revenue soared 82% and the company boosted its 2003 outlook amid growing popularity for its DVD-rental service.
The Los Gatos, Calif., company posted a first-quarter net loss of $4.5 million, or 20 cents a share, compared with a loss of $4.5 million, or $2.20 a share on fewer shares outstanding in the same quarter last year.

ADVERTISEMENT


Excluding stock-based compensation expenses, Netflix said it earned $31,000, or break-even on a per-share basis, compared with a loss of $1.7 million, or 81 cents a share, on the same basis last year. Analysts surveyed by Thomson First Call (News - Websites) were anticipating a loss of eight cents a share.

Revenue grew to $55.7 million from $30.5 million in the year-earlier period.

Netflix said it added 417,000 new trial subscribers during the first quarter, and finished the period with 1.05 million total subscribers. The company also said its churn rate, which includes free-trial subscribers as well as paying subscribers who elect not to renew their monthly subscription, fell to 5.8% from 7.2% in the first quarter of 2002.

Looking ahead, the company forecast second-quarter revenue of $60 million to $ 64 million, and said it expects to finish the quarter with a subscriber base totaling 1.11 million to 1.16 million. In the second quarter of 2002, Netflix`s revenue was $36.4 million. Using a nonstandard accounting measure that excludes stock-based compensation, Netflix pegged second-quarter earnings at $500,000 to $3 million.

The company also boosted its full-year 2003 revenue outlook, and now expects sales of $255 million to $275 million. In January, Netflix had pegged 2003 revenue at $235 million to $255 million.


---------------------------------------------------------







Reuters
UPDATE - Netflix 1st-qtr share loss narrows, sales jump
Thursday April 17, 8:25 pm ET
By Bob Tourtellotte


(Adds details throughout; byline)
LOS ANGELES, April 17 (Reuters) - Online DVD rental service Netflix Inc. (NasdaqNM:NFLX - News) on Thursday reported a sharply narrower first-quarter loss per share on a nearly 82 percent gain in revenues as business grew faster than the company expected.

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Los Gatos, California-based Netflix reported a net loss of $4.5 million, or 20 cents a share, on the basis of generally accepted accounting practices, or GAAP, which included non-cash, stock-based compensation costs.

The net income figures compared with a year-earlier net loss of $4.5 million, or $2.20 per share, on far fewer shares. Netflix first issued stock to the public in May 2002.

Excluding stock-based compensation, the company generated a profit of $31,000, or nil per share. Revenue jumped to $55.7 million from $30.5 million last year.

"It was a very good quarter and shows they are really focused on managing the business," said Safa Rashtchy, analyst with U.S. Bancorp Piper Jaffray.

Looking ahead, the company said it expected second-quarter revenue of $60 million to $64 million and profits, excluding stock-based compensation, of $500,000 to $3 million.

Analysts polled by Wall Street tracking firm Thomson First Call (News - Websites) expected Netflix to post revenues of $53.5 million in the first quarter, on average, and forecast a loss of 8 cents per share with a range from a loss 18 cents to a loss 4 cents.

In a conference call with analysts after its report, Netflix executives declined to speculate on when the company might begin to generate a net profit due to the stock`s volatility and its effect on stock compensation costs.

Rashtchy said he expects Netflix to become profitable on a GAAP basis at some point this year.

Netflix shares ended trading up about $1.39, or nearly 7 percent, at $21.96, and in after hours trading on the Instinet system added another 7 percent to rise to $23.56.

FASTER GROWTH AHEAD

In the conference call, Chief Executive Reed Hastings said Netflix grew faster than its own forecasts said it would by performing well in key areas that include subscriber growth, "churn" rate and subscriber acquisition costs.

"We now expect business to grow faster with higher margins than we had previously forecast," he added.

Netflix saw its total subscribers rise to 1.05 million at the end of the first quarter from 857,000 at the fourth quarter`s end.

The company reduced average monthly churn to its lowest level ever at 5.8 percent compared to 7.2 percent last year.

Churn is an important barometer for Netflix because it measures the number of clients who cancel memberships compared with those who retain the service. A high churn rate, in general, leads companies to increase marketing costs.

Concerning marketing expenses, or what Netflix calls subscriber acquisition costs, the company reported that first quarter figure at $31.67 per new-trial subscriber, which was well below its forecast range of $34 to $36.

The number, however, did rise from $25.44 in the same quarter last year, but analysts said the year-ago figure was unusually low because the company purposely spent less that period to offset higher marketing costs in an earlier quarter.

Finally, company officials said the expected competition from video retailer Blockbuster Inc. (NYSE:BBI - News) and mass market retailer Wal-Mart Stores Inc (NYSE:WMT - News) has failed to materialize in a meaningful way. (Additional reporting by Lisa Baertlein)

[panik]

Netflix Guides to GAAP Profitability for 2Q 2003 Adopts SFAS No. 123 for Expensing Stock Options
Monday June 9, 4:01 pm ET


LOS GATOS, Calif., June 9 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) updated guidance today for the second quarter ending June 30, 2003.
The Company expects to generate GAAP net income of between $3.0 and $4.0 million, its first profitable quarter ever on a GAAP net income basis.

Revised Guidance
The Company revised guidance for the second quarter as follows:

-- Ending subscribers of 1,130 to 1,150 thousand, from 1,110 to 1,160
thousand.
-- Average monthly subscriber churn of 5.7 to 5.9%, from 5.0 to
6.25%.
-- Revenue of $62 to $64 million, from $60 to $64 million.
-- Gross margin of 43 to 45%, from 42 to 44%.
-- Subscriber acquisition cost of $31 to $33, from $32 to $36.
-- Non-GAAP net income of $4.4 to $5.9 million, from $0.5 to $3.0 million.
-- GAAP net income of $3.0 to $4.0 million, from a net loss of
$600 thousand
to net income of $400 thousand.
-- EBITDA of $14.5 to $16.5 million, from $10 to $13 million.


Expensing of Stock Options

The Company will adopt the fair value based method of recording stock-based compensation expense, which is contained in SFAS No. 123, Accounting for Stock-Based Compensation when it reports results for the second quarter. The Company will adopt SFAS No. 123 in accordance with the Retrospective Restatement Method contained in SFAS No. 148, Accounting for Stock-Based Compensation -- Transition and Disclosure, an amendment of FASB Statement No. 123. In accordance with the Retrospective Restatement Method, the Company will restate prior periods in order to provide consistency and comparability between periods. Historically, the Company has recorded stock-based compensation expense in accordance with Accounting Principles Board Opinion No. 25 and related interpretations. The Company expects no material financial impact in the second quarter related to the adoption of fair value accounting for stock option expense but does expect to incur additional expense in future quarters related to this change in accounting.

About Netflix

Launched in 1998, Netflix is the world`s largest online movie rental service, providing more than one million subscribers with access to a comprehensive library of more than 15,000 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from shipping centers throughout the United States. Netflix can reach more than half of its subscribers with generally next-day delivery. The company also provides background information on DVD releases, including critic reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the securities laws, including statements regarding our ending subscribers, churn, revenue, gross margin, subscriber acquisition costs, non-GAAP net income, GAAP net income and EBITDA for the second quarter of 2003. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to attract new subscribers and retain existing subscribers, fluctuation in the number of DVDs shipped to our subscribers and variations in the mix between revenue sharing titles and titles not subject to revenue sharing that are delivered to our subscribers; disruption in service on our website or with our computer systems; as well as conditions that affect our delivery through the U.S. Postal Service. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our Annual Report on Form 10-K filed with the SEC on March 31, 2003. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Non-GAAP Guidance Reconciliation Schedule

2Q 2003 Guidance
Range

Non-GAAP net income reconciliation:
Net income $3,000 $4,000
Add back:
Stock-based compensation 1,400 1,900
Non-GAAP net income $4,400 $5,900

EBITDA reconciliation:
Operating income $2,600 $3,600
Add back:
Stock-based compensation 1,400 1,900
Depreciation and amortization 10,500 11,000
EBITDA $14,500 $16,500




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Netflix Announces Second Quarter 2003 Ending Subscribers of 1,147,000, Up 71% Over the Prior Year
Tuesday July 1, 4:05 pm ET


LOS GATOS, Calif., July 1 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the second quarter of 2003 with approximately 1,147,000 total subscribers, within the revised range of the Company`s guidance of 1,130,000 to 1,150,000 subscribers. The Company revised guidance on June 9, 2003. Subscribers grew 71 percent year-over-year from 670,000 total subscribers at the end of the second quarter of 2002 and 9 percent sequentially from 1,052,000 total subscribers at the end of the first quarter of 2003.
ADVERTISEMENT


Paid Subscribers

Of the 1,147,000 total subscribers at quarter end, 96 percent or 1,101,000 were paying subscribers. The other 4 percent, or 46,000 subscribers, were new trial subscribers. Paying subscribers represented 94 percent of total subscribers at the end of the second quarter of 2002 and 96 percent of total subscribers at the end of the first quarter of 2003.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 5.0 percent of households at the end of the second quarter of 2003, up from 3.2 percent at the end of the second quarter of 2002 and up from 4.6 percent at the end of the first quarter of 2003. Household penetration in the rest of the country reached 1.0 percent at the end of the second quarter of 2003, up from 0.57 percent at the end of the second quarter of 2002 and up from 0.90 percent at the end of the first quarter of 2003. Market research firm NPDTechWorld estimates that 54.3 percent of all U.S. households had a standalone DVD player as of the end of May 2003.

Second Quarter Earnings Release

Netflix will release its second quarter 2003 financial results on Thursday, July 17, 2003 after the market close. A web cast of the quarterly conference call will begin at 2 PM PDT and can be accessed via the web at www.netflix.com or at www.prnewswire.com.

About Netflix

Launched in 1998, Netflix is the world`s largest online movie rental service, providing more than one million subscribers with access to a comprehensive library of more than 15,000 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from shipping centers throughout the United States. Netflix can reach more than half of its subscribers with generally next-day delivery. The company also provides background information on DVD releases, including critic reviews, member reviews and ratings and personalized movie recommendations. For more information on the company, visit www.netflix.com.




--------------------------------------------------------------------------------
Source: Netflix

[panik]

Netflix Reports EPS of $0.11 Per Share on 2Q Revenue of $63 Million, Up 74% Year Over Year
Thursday July 17, 4:02 pm ET
- Revenue of $63.2 million, up 74 percent year over year and up 14 percent sequentially. - GAAP net income of $3.3 million or $0.11 per diluted share. - Non-GAAP net income of $5.0 million or $0.16 per diluted share. - Non-GAAP free cash flow of $4.3 million. GAAP net cash provided by operating activities of $23.6 million.


LOS GATOS, Calif., July 17 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) announced strong financial results for the quarter ended June 30, 2003. According to Reed Hastings, founder and CEO of Netflix, "The consumers` love affair with the subscription rental model we pioneered at Netflix enabled us to once again achieve record results in the current quarter."
ADVERTISEMENT


Revenue, Subscribers, and Churn

Total revenue for the second quarter was a record $63.2 million, up 74 percent compared to $36.4 million for the second quarter 2002, and up 14 percent compared to $55.7 million for the first quarter 2003.

Netflix ended the second quarter of 2003 with approximately 1,147,000 total subscribers. During the quarter Netflix acquired 327,000 new trial subscribers, a 39 percent year-over-year increase from the 236,000 new trial subscribers acquired in the second quarter of 2002 and a sequential decrease of 22 percent from the 417,000 new trial subscribers acquired in the first quarter of 2003.

Average monthly subscriber churn(1) for the second quarter of 2003 was 5.6 percent as compared to 6.7 percent in the second quarter of 2002 and 5.8 percent in the first quarter of 2003. Churn includes free trial subscribers as well as paying subscribers who elect not to renew their monthly subscription service during the quarter.

Gross Margin

Gross margin for the second quarter was 44.2 percent, down from 46.1 percent in the first quarter of 2003. Gross margin declined in the second quarter due to rising content costs which increased by 2 percent of revenue. Increased depreciation expense on purchased inventory accounted for the increase in content costs. Disc usage per average paid subscriber was unchanged in the quarter.

Subscriber Acquisition Cost

Subscriber acquisition cost(2) for the second quarter was $30.45 per new-trial subscriber compared to a cost of $34.13 for the second quarter of 2002 and a cost of $31.67 for the first quarter of 2003.

GAAP Net Income, Non-GAAP Net Income, and Free Cash Flow

Netflix reported GAAP net income of $3.3 million, or $0.11 per diluted share, for the second quarter of 2003 compared to a GAAP net loss of $13.1 million, or $1.28 per diluted share, for the second quarter of 2002 and GAAP net loss of $2.4 million, or $0.10 per diluted share, for the first quarter of 2003.

Non-GAAP net income was $5.0 million, or $0.16 per diluted share, for the second quarter of 2003 compared to a non-GAAP net income of $12 thousand, or $0.00 per diluted share, for the second quarter of 2002 and non-GAAP net income of $31 thousand, or $0.00 per diluted share, for the first quarter of 2003. Non-GAAP net income equals net income on a GAAP basis before stock-based compensation expense(3).

Free cash flow for the second quarter 2003 was $4.3 million or 7 percent of revenue, down 7 percent from $4.6 million in the second quarter of 2002 and down 21 percent compared to $5.5 million for the first quarter of 2003. For the twelve months ended June 30, 2003, the Company generated $20.3 million of free cash flow and finished the second quarter with $116.3 million of cash and short-term investments. Less outstanding debt of $1.1 million, this equates to net cash of $115.2 million or $3.74 per diluted share. Non-GAAP free cash flow is defined as cash flows from operating activities less cash flows used in investing activities excluding purchases and sales of short-term investments. Cash provided by operating activities for the second quarter 2003 was $23.6 million, up 191 percent from $8.1 million in the second quarter 2002 and up 84 percent compared to $12.8 million for the first quarter of 2003.

Adoption of SFAS No. 123

As previously announced on June 9, 2003, the Company adopted the fair value recognition provisions of Statement of Financial Accounting Standards ("SFAS") No. 123, Accounting for Stock-Based Compensation, as amended by SFAS No. 148, Accounting for Stock-Based Compensation - Transition and Disclosure, for stock-based employee compensation during the second quarter of 2003. The Company elected to apply the retroactive restatement method under SFAS No. 148 and all prior periods presented have been restated to reflect the compensation costs that would have been recognized had the fair value recognition provisions of SFAS No. 123 been applied.

Use of Non-GAAP Measures

Management believes that Non-GAAP net income (loss) is a useful measure of operating performance because it excludes the non-cash impact of stock option accounting. In addition, management believes that free cash flow is a useful measure of liquidity because it excludes the non-operational cash flows from purchases and sales of short-term investments and cash flows from financing activities. However, these Non-GAAP measures should be considered in addition to, not as a substitute for, or superior to net income (loss) and net cash provided by operating activities, or other financial measures prepared in accordance with GAAP. A reconciliation to the GAAP equivalents of these Non- GAAP measures is contained in tabular form on the attached unaudited financial statements.

Business Outlook

The Company`s performance expectations for the third and fourth quarters of 2003 and the full year 2003 are as follows:

Third Quarter, 2003
Ending subscribers of 1,240 to 1,290 thousand
Revenue of $67 to $71 million
GAAP net loss of $2.0 million to net income of $1.0 million
Non-GAAP net income before stock-based compensation expense of
$0.3 to $2.8 million

Gross margin of 42 to 44 percent
SAC of $31 to $34
Churn of 5.3 to 5.8 percent
Fourth Quarter, 2003
Ending subscribers of 1,400 to 1,475 thousand
Revenue of $74 to $80 million
GAAP net loss of $2.5 million to net income of $1.5 million
Non-GAAP net income before stock-based compensation expense of
$0.5 to $3.5 million.

Gross margin of 42 to 44 percent
SAC of $32 to $35
Churn of 5.2 to 5.8 percent
Full Year, 2003
Revenue of $260 to $270 million
GAAP net loss of $3.6 million to net income of $3.4 million
Non-GAAP net income of $6 to $11 million
Float, Lock Up Expiration, and Diluted Shares

The Company estimates the public float at approximately 16,414,315 shares as of June 30, 2003 based on registered shares held in street name with the Depository Trust and Clearing Corporation. The IPO lock up has expired, and no outstanding shares are subject to a lock-up agreement of any kind. From time to time executive officers of Netflix may elect to sell stock in Netflix. All such sales are made pursuant to the terms of 10b5-1 Trading Plans approved by the Company and generally adopted no less than three months prior to the first date of sale under such plan.

Earnings Call

The Netflix earnings call will be webcast today at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time, and may be accessed at http://www.netflix.com or at http://www.prnewswire.com . Following the conclusion of the webcast, a replay of the call will be available via Netflix`s website at http://www.netflix.com . For those without access to the Internet, a replay of the call will be available from 5:00 p.m. Pacific Time on July 17, 2003 through July 24, 2003. To listen to a replay, call 719-457-0820, access code 740978. The Company plans to include discussion of its business outlook in the conference call.

About Netflix

Launched in 1998, Netflix is the world`s largest online movie rental service, providing more than one million subscribers with access to a comprehensive library of more than 15,000 DVD titles. For $19.95 a month, Netflix subscribers can rent as many DVDs as they want, with three movies out at a time, and keep them for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber`s address by first-class mail from shipping centers throughout the United States. Netflix can reach more than half of its subscribers with generally next-day delivery. The Company also provides background information on DVD releases, including critic reviews, member reviews and ratings and personalized movie recommendations. For more information on the Company, visit http://www.netflix.com .

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber growth, revenues, GAAP net income (loss), non-GAAP net income, gross margin, subscriber acquisition costs and churn for the third and fourth quarters of 2003 as well as our revenue, GAAP net income (loss) and non-GAAP net income for the full year 2003. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to manage our growth, in particular managing our subscriber acquisition costs as well as the mix between revenue sharing titles and titles not subject to revenue sharing that are delivered to our subscribers; our ability to attract new subscribers and retain existing subscribers; fluctuations in consumer usage of our service, customer spending on DVD players, DVDs and related products; competition; disruption in service on our website or with our computer systems; deterioration of the U.S. economy or conditions specific to online commerce or the filmed entertainment industry; conditions that effect our delivery through the U.S. Postal Service, including increases in first class postage; increases in the costs of acquiring DVDs; and, widespread consumer adoption of different modes of viewing in-home filmed entertainment. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the SEC on March 31, 2003. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

(1) We calculate churn as a monthly percentage determined as a quotient, the numerator of which is the sum of the previous quarter`s ending subscribers plus the current quarter`s new trial subscribers minus the ending subscribers for the current quarter and the denominator of which is the sum of the previous quarter`s ending subscribers plus the current quarter`s new trial subscribers and then dividing this resulting number by 3, which is the number of months in the quarter.
(2) "Subscriber acquisition cost" ("SAC") is defined as the total marketing expense on the Company`s Statement of Operations divided by total new trial subscribers in the quarter.
(3) In the second quarter of 2002, non-GAAP net income also excludes $10.7 million in one-time interest charges related to debt retirement.
Netflix, Inc.
Statements of Operations
(Unaudited)
(in thousands, except per share data)

Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2002 2003 2003 2002 2003
Revenues:
Subscription $35,608 $55,281 $63,071 $65,677 $118,352
Sales 752 388 116 1,210 504
Total revenues 36,360 55,669 63,187 66,887 118,856
Cost of revenues:
Subscription 17,779 29,928 35,148 32,651 65,076
Sales 313 79 93 599 172
Total cost of
revenues 18,092 30,007 35,241 33,250 65,248
Gross profit 18,268 25,662 27,946 33,637 53,608
Operating expenses:
Fulfillment 4,854 6,383 7,221 9,009 13,604
Technology and
development 3,518 4,183 4,123 6,699 8,306
Marketing 8,054 13,207 9,957 15,992 23,164
General and
administrative 1,638 2,248 2,093 2,947 4,341
Stock-based
compensation 2,432 2,406 1,704 3,493 4,110
Total operating
expenses 20,496 28,427 25,098 38,140 53,525
Operating income (loss) (2,228) (2,765) 2,848 (4,503) 83
Other income (expense):
Interest and other
income 275 581 560 349 1,141
Interest and other
expense (11,162) (191) (95) (11,690) (286)
Net income (loss) $(13,115) $(2,375) $3,313 $(15,844) $938

Net income (loss) per share:
Basic $(1.28) $(.10) $.14 $(2.58) $.04
Diluted $(1.28) $(.10) $.11 $(2.58) $.04
Weighted average common
shares outstanding:
Basic 10,216 22,737 23,648 6,132 23,193
Diluted 10,216 22,737 30,812 6,132 26,775

Reconciliation of
Non-GAAP Financial Measures
(Unaudited)
Non-GAAP net income
(loss) reconciliation:
Net income (loss) $(13,115) $(2,375) $3,313 $(15,844) $938
Add back:
Stock-based
compensation 2,432 2,406 1,704 3,493 4,110
Non-cash interest
on early repayment
of debt 10,695 -- -- 10,695 --
Non-GAAP net income
(loss) $12 $31 $5,017 $(1,656) $5,048
Non-GAAP net income
(loss) per share:
Basic $-- $-- $.21 $(.27) $.22
Diluted $-- $-- $.16 $(.27) $.19


Netflix, Inc.
Balance Sheets
(Unaudited)
(in thousands, except share and per share data)
As of
December 31, June 30,
2002 2003
Assets
Current assets:
Cash and cash equivalents $59,814 $71,229
Short-term investments 43,796 45,096
Prepaid expenses 2,753 2,569
Prepaid revenue sharing expenses 303 459
Other current assets 409 232
Total current assets 107,075 119,585
DVD library, net 9,972 17,353
Intangible assets, net 6,094 4,477
Property and equipment, net 5,620 6,108
Deposits 1,690 1,684
Other assets 79 858
Total assets $130,530 $150,065

Liabilities and Stockholders` Equity
Current liabilities:
Accounts payable $20,350 $28,009
Accrued expenses 9,102 10,294
Deferred revenue 9,743 12,394
Current portion of capital
lease obligations 1,231 835
Total current liabilities 40,426 51,532
Deferred rent 288 271
Capital lease obligations,
less current portion 460 256
Total liabilities 41,174 52,059

Commitments and contingencies
Stockholders` equity:
Common stock, $0.001 par value;
150,000,000 and 80,000,000 shares
authorized at December 31, 2002 and
June 30, 2003, respectively;
22,445,795 and 23,958,679 issued
and outstanding at December 31, 2002
and June 30, 2003, respectively 22 24
Additional paid-in capital 260,067 263,761
Deferred stock-based compensation (11,702) (8,243)
Accumulated other comprehensive income 774 1,331
Accumulated deficit (159,805) (158,867)
Total stockholders` equity 89,356 98,006
Total liabilities
and stockholders` equity $130,530 $150,065


Netflix, Inc.
Statements of Cash Flows
(Unaudited)
(in thousands)
Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2002 2003 2003 2002 2003
Cash flows from
operating activities:
Net income (loss) $(13,115) $(2,375) $3,313 $(15,844) $938
Adjustments to reconcile
net income (loss) to
net cash provided by
operating activities:
Depreciation of
property and equipment 1,448 1,333 1,140 2,905 2,473
Amortization of
DVD library 3,988 6,620 9,392 6,905 16,012
Amortization of
intangible assets 819 809 808 1,525 1,617
Stock-based
compensation expense 2,432 2,406 1,704 3,493 4,110
Gain on disposal of DVDs (674) (367) (94) (957) (461)
Noncash interest expense 10,921 32 36 11,316 68
Changes in operating
assets and liabilities:
Prepaid expenses and
other current assets 962 603 (398) 189 205
Accounts payable (2,921) 1,868 5,791 (344) 7,659
Accrued expenses 3,461 423 769 3,275 1,192
Deferred revenue 779 1,484 1,167 2,129 2,651
Deferred rent 16 (9) (8) 29 (17)
Net cash provided by
operating activities 8,116 12,827 23,620 14,621 36,447
Cash flows from investing
activities:
Purchases of short-term
investments (42,147) (380) (363) (42,147) (743)
Purchases of property
and equipment (749) (561) (2,400) (844) (2,961)
Acquisitions of
DVD library (3,480) (6,409) (17,027) (9,641) (23,436)
Proceeds from sale
of DVDs 752 388 116 1,210 504
Deposits and other assets 9 (793) 20 9 (773)
Net cash used in
investing
activities (45,615) (7,755) (19,654) (51,413) (27,409)
Cash flows from financing
activities:
Proceeds from issuance
of common stock 86,428 1,549 1,496 86,515 3,045
Repurchases of
common stock (3) -- -- (3) --
Principal payments on
notes payable and
capital lease obligations (14,838) (407) (261) (16,092) (668)
Net cash provided by
financing
activities 71,587 1,142 1,235 70,420 2,377
Net increase in cash
and cash equivalents 34,088 6,214 5,201 33,628 11,415
Cash and cash equivalents,
beginning of period 15,671 59,814 66,028 16,131 59,814
Cash and cash equivalents,
end of period $49,759 $66,028 $71,229 $49,759 $71,229

Non-GAAP Free Cash Flow reconciliation:
Net cash provided by
operating activities $8,116 $12,827 $23,620 $14,621 $36,447
Purchases of property
and equipment (749) (561) (2,400) (844) (2,961)
Acquisitions of
DVD library (3,480) (6,409) (17,027) (9,641) (23,436)
Proceeds from sale
of DVDs 752 388 116 1,210 504
Deposits and other assets 9 (793) 20 9 (773)

Non-GAAP Free Cash Flow $4,648 $5,452 $4,329 $5,355 $9,781


Netflix, Inc.
Other Data
(Unaudited)
(in thousands, except subscriber acquisition cost)

Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2002 2003 2003 2002 2003

Subscribers:
New trial subscribers:
during period 236 417 327 548 744
New trial subscribers
year to year change 168% 34% 39% 136% 36%
New trial subscribers
qtr. to qtr.
sequential change (24%) 32% (22%)
Subscribers: end
of period 670 1,052 1,147 670 1,147
Subscribers
year to year change 118% 74% 71% 118% 71%
Subscribers
qtr. to qtr.
sequential change 11% 23% 9%
Free subscribers:
end of period 37 43 46 37 46
Free subscribers
as percentage
of ending
subscribers 5.5% 4.1% 4.0% 5.5% 4.0%
Paid subscribers:
end of period 633 1,009 1,101 633 1,101
Year to year
change 114% 80% 74% 114% 74%
Qtr. to qtr.
sequential
change 13% 27% 9%
Subscriber churn
(monthly) 6.7% 5.8% 5.6% 6.9% 5.7%
Subscriber
acquisition
cost $34.13 $31.67 $30.45 $29.18 $31.13

Margins:
Gross margin 50.2% 46.1% 44.2% 50.3% 45.1%
Operating
margin (6.1%) (5.0%) 4.5% (6.7%) 0.1%
Net margin (36.1%) (4.3%) 5.2% (23.7%) 0.8%
Non-GAAP net
margin 0.0% 0.1% 7.9% (2.5%) 4.2%
Expenses as
percentage
of revenues:
Fulfillment 13.3% 11.5% 11.4% 13.5% 11.4%
Technology
and
development 9.7% 7.5% 6.5% 10.0% 7.0%
Marketing 22.2% 23.7% 15.8% 23.9% 19.5%
General and
administrative 4.5% 4.0% 3.3% 4.4% 3.7%
Operating
expenses
before
stock-based
compensation 49.7% 46.7% 37.0% 51.8% 41.6%
Stock-based
compensation 6.7% 4.3% 2.7% 5.2% 3.5%
Total
operating
expenses 56.4% 51.0% 39.7% 57.0% 45.1%

Year-to-year
change:
Total
revenues 98.1% 82.4% 73.8% 88.9% 77.7%
Fulfillment 35.2% 53.6% 48.8% 25.1% 51.0%
Technology
and
development (28.1%) 31.5% 17.2% (35.4%) 24.0%
Marketing 96.9% 66.4% 23.6% 48.9% 44.8%
General and
administrative 58.9% 71.7% 27.8% 15.8% 47.3%
Operating
expenses
before
stock-based
compensation 32.8% 56.9% 29.5% 12.3% 42.6%
Stock-based
compensation 52.5% 126.8% (29.9%) (9.2%) 17.7%
Total
operating
expenses 34.8% 61.1% 22.5% 9.9% 40.3%


Netflix, Inc.
SFAS No. 123 Reconciliation
(Unaudited)
(in thousands, except per share data)

During the second quarter of 2003, the Company adopted the fair value
recognition provisions of SFAS No. 123. All prior periods presented have
been restated in accordance with the retroactive restatement method under
SFAS No. 148. The following table presents a reconciliation of
previously reported net loss to restated net loss:

Three Months Ended Six Months Ended
June 30, March 31, June 30,
2002 2003 2002
Net loss, as previously
reported $(13,429) $(4,521) $(17,937)
Add back: stock-based
employee compensation
expense
included in previously
reported net loss 2,746 4,552 5,586
Deduct: stock-based
employee compensation
expense
determined under the fair
value method of SFAS
No. 123 (2,432) (2,406) (3,493)
Net loss, as restated $(13,115) $(2,375) $(15,844)

Basic and diluted net
loss per share:
As previously reported $(1.31) $(0.20) $(2.93)
As restated $(1.28) $(0.10) $(2.58)


Netflix, Inc.
Non-GAAP Guidance Reconciliation Schedule
(Unaudited)
(in thousands)

Third Quarter, 2003
Guidance Range
Non-GAAP net income (loss) reconciliation:
Net income (loss) $(2,000) $1,000
Add back:
Stock-based compensation 2,300 1,800
Non-GAAP net income $300 $2,800

Fourth Quarter, 2003
Guidance Range
Non-GAAP net income (loss) reconciliation:
Net income (loss) $(2,500) $1,500
Add back:
Stock-based compensation 3,000 2,000
Non-GAAP net income $500 $3,500

Full Year, 2003
Guidance Range
Non-GAAP net income (loss) reconciliation:
Net income (loss) $(3,600) $3,400
Add back:
Stock-based compensation 9,600 7,600
Non-GAAP net income $6,000 $11,000




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[casinozock]

netflix rockssssss
neues jahreshoch

[panik]

8:49AM Netflix tgt raised to $42 from $30 at TWP (NFLX) 35.51: Firm also increasing 2003 est to $0.32 from $0.30 and 2004 view to $0.85 from $0.60 to reflect higher gross margins and somewhat lower subscriber acquisition costs.

[panik]

Netflix Announces Third Quarter 2003 Ending Subscribers of 1,291,000 Up 74% Over the Prior Year
Wednesday October 1, 4:15 pm ET


LOS GATOS, Calif., Oct. 1 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the third quarter of 2003 with approximately 1,291,000 total subscribers. Subscribers grew 74 percent year-over-year from 742,000 total subscribers at the end of the third quarter of 2002 and 13 percent sequentially from 1,147,000 total subscribers at the end of the second quarter of 2003.
Paid Subscribers

Of the 1,291,000 total subscribers at quarter end, 96 percent or 1,242,000 were paying subscribers. The other 4 percent, or 49,000 subscribers, were new trial subscribers. Paying subscribers represented 95 percent of total subscribers at the end of the third quarter of 2002 and 96 percent of total subscribers at the end of the second quarter of 2003.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 5.4 percent of households at the end of the third quarter of 2003, up from 3.5 percent at the end of the third quarter of 2002 and up from 5.0 percent at the end of the second quarter of 2003. Household penetration in the rest of the country reached 1.2 percent at the end of the third quarter of 2003, up from 0.6 percent at the end of the third quarter of 2002 and up from 1.0 percent at the end of the second quarter of 2003. Market research firm The NPD Group estimates that 58 percent of all U.S. households had a standalone DVD player as of the end of August 2003.

Third Quarter Earnings Release

Netflix will release its third quarter 2003 financial results on Wednesday, October 15, 2003 after the market close. A web cast of the quarterly conference call will begin at 2:00 PM PDT and can be accessed via the web at www.netflix.com or at www.prnewswire.com.

About Netflix

Netflix is the world`s largest online movie rental service, providing more than one million subscribers access to over 15,000 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want, and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than 70 percent of its subscribers with generally next-day delivery. The company provides subscribers extensive information about DVD movies, including critic reviews, member reviews, online trailers, ratings, and personalized movie recommendations. For more information, visit www.netflix.com.




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Reuters
UPDATE - Netflix Q3 profit more than triple own forecast
Wednesday October 15, 7:25 pm ET


(Adds CEO interview, details from conference call)
LOS ANGELES, Oct 15 (Reuters) - Online DVD renter Netflix Inc. (NasdaqNM:NFLX - News) on Wednesday reported a quarterly earnings more than triple its own forecast as subscribers signed up and stayed with the service while competitors like Wal-Mart failed to stem its growth.

"Netflix continues steady, reliable growth despite competition," Chief Executive Reed Hastings told Reuters.

Los Gatos, California`s Netflix, which rents DVDs to subscribers who pay a monthly fee of $20, improved its performance in key measures such as lowering the number of cancellations compared with adding new customers and reducing marketing costs.

Hastings said Netflix launched a redesigned Web site that made renting easier, and cut the time it takes for subscribers to receive their movies. Netflix also increased its inventory of new DVDs which boosted available movie titles.

Netflix posted a third-quarter net profit of $3.3 million, or 10 cents a share, compared with a net loss of $2.8 million, or 13 cents a share, last year.

Third quarter revenues climbed 77 percent to $72.2 million from $40.7 million last year.

Excluding stock-based compensation costs, earnings were $6.1 million, or 19 cents per diluted share, compared to a loss of $228,000, or 1 cent per share last year.

Financial analysts had been expecting a third quarter net profit of 10 cents per share on revenue of $70 million according to Reuters Research, a unit of Reuters Group Plc.

Early in the quarter, Netflix had forecast a range of profits that ranged to $1 million on the high end.

2004 GUIDANCE

In a conference call with reporters and analysts, Chief Financial Officer Barry McCarthy narrowed expectations for 2004 earnings by saying a range of $1.10 to $1.15 per share net profit "is more likely" than the current 60 cents to $1.16.

Analysts on average expect Netflix full year 2003 profit of 37 cents a share, according to Reuters Research.

Media analyst Dennis McAlpine, who runs his own investment firm McAlpine Associates noted the new range looked like a good number given that guidance for 2004 had yet to be issued.

"It`s hard to find much of anything bad in there," he said of the earnings report and the details on the conference call.

In after hours trading, the stock first climbed on the report before slipping back to trade at $44.70 on the Instinet system, flat with its Nasdaq close.

On Oct. 1, the company said it ended the third quarter with 1.29 million subscribers, a 74 percent increase from last year and 13 percent ahead of the previous quarter. Since then, the stock has risen some 40 percent.

In Wednesday`s earnings report, Netflix said its average monthly subscriber churn rate -- which measures customer cancellations compared to additions -- fell to 5.2 percent from 7.2 percent last year and 5.6 percent in the second quarter. A lower churn rate generally means fewer cancellations.

Subscriber acquisition costs -- the cost of having each new customer sign up -- fell to $31.81 per new trial subscriber from $33.57 last year, but was up from the second quarter`s $30.45.

The subscriber growth and lower churn came even as Netflix faced increased competition from major retailers like Wal-Mart Stores Inc. (NYSE:WMT - News) and video chain Blockbuster Inc. (NYSE:BBI - News).

Hastings said feedback from clients, company research and independent reports have shown that Netflix`s DVD inventory and delivery times are better than competitors.

[panik]

12:13PM Netflix: The Shorts Are Screaming! (NFLX) 52.38 +7.68: -- Update -- Have seen an acceleration in buying this afternoon on what appears to be short-covering in the name. The short-interest (as a percentage of the float) in this stock is listed as low as 56% and as high as 89% by different services. Either way, this is considered a very high number for any stock. Contributing to investor/trader buying and the subsequent bear-squeeze are a variety of extremely positive comments by various firms covering the stock. As noted on our Upgrades/Downgrades page before the open, one firm raised its 12-month price tgt to $55 from $42. Stock is quickly closing in on that level after less than a full day of trading.

[panik]

Netflix stock surges to `03 high
Analyst: short covering, earnings view lift shares
By David B. Wilkerson, CBS.MarketWatch.com
Last Update: 2:16 PM ET Oct. 20, 2003







SAN FRANCISCO (CBS.MW) -- Shares of online video-rental firm Netflix Inc. rose to a new 52-week high on Monday in the wake of the company`s higher-than-expected earnings outlook for next year.


However, investors also may be bidding up Netflix to cover the "huge" short positions currently held in the stock, said Dennis McAlpine, president of McAlpine Associates, an independent research firm in Scarsdale, N.Y.

"Last week, they had a couple of 7-or-8 million-share trading days, on a float that`s under 20 million," McAlpine said. "So if they`re at 2 million-plus already today, that would seem to be more short covering."

Netflix (NFLX: news, chart, profile) reached a one-year high of $56.19 at one point in the session. At last check, the stock was up $4.02, or 8 percent, at $56.15 on volume of more than 3.2 million shares, well above its daily average of around 1 million.

Los Gatos, Calif.-based Netflix charges subscribers $19.95 a month to rent up to three DVDs at any one time, which are sent via regular mail service. There are no due dates or late fees on the videos, which are drawn from a library of more than 15,000 titles.

Last week, the company told analysts that it expects 2004 earnings between $1.10 and $1.15 a share, vs. Wall Street`s consensus estimate of $1.04 a share.

McAlpine estimates the company will earn only 60 cents a share next year, noting that the stock would sport a price-to-earnings multiple of around 50 assuming a 2004 forecast of $1.10 a share. "You start to get to a point where you say, `Gee, how much more can we get out of this,`" he said. "[But] I don`t know where the top is. Right now you`re into momentum. As long as the stock keeps going, people are going to stay with it."

Rental giant Blockbuster Inc. (BBI: news, chart, profile) and retailer Wal-Mart (WMT: news, chart, profile) now offer competing subscription-based DVD rental services, but so far neither company has been able to pose a significant threat to Netflix.

Reed Hastings, Netflix`s chief executive, said last week that subscriber growth has been strong even in areas where Blockbuster has advertised its new subscription-based rental service very heavily, such as in the San Francisco Bay Area.

"Our growth stayed completely unaffected," Hastings said.

He said Blockbuster gets 18 percent of its revenue from late fees, and that as a result, consumers are unable to imagine a transaction with Blockbuster that doesn`t involve late fees -- even though Blockbuster`s subscription service doesn`t levy them.

In June, Netflix won a patent for its subscription rental model, but hasn`t tried to block the efforts of Blockbuster or Wal-Mart. "So far there`s no reason to," said McAlpine.

Netflix reported it swung to a third-quarter profit on a 77 percent increase in subscribers over the prior year. Net income was $3.3 million, or 10 cents a share, compared to a loss of $2.9 million, or 13 cents, in the year-ago quarter.

Its profit from operations was $6.1 million, or 19 cents a share, vs. a loss of $228,000, or 1 cent, in the same period last year. Analysts polled by Thomson First Call were looking for a profit of just 10 cents a share.

Revenue rose to $72.2 million from $40.7 million. The consensus estimate was $69.7 million.

David B. Wilkerson is a reporter for CBS.MarketWatch.com in San Francisco.

[panik]

Netflix Sees Rapid Subscriber Growth; Company Updates Guidance for Fourth Quarter 2003
Wednesday December 17, 2:41 pm ET


LOS GATOS, Calif., Dec. 17 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) today raised guidance for the fourth quarter ending December 31, 2003.
Revised Guidance
The Company revised guidance for the fourth quarter as follows:

-- Ending subscribers of 1,470,000 to 1,495,000, from 1,425,000 to
1,475,000
-- Average monthly subscriber churn of 4.7 percent to 5.0 percent, from
4.9 percent to 5.4 percent
-- Subscriber acquisition cost of $32.50 to $33.50, from $30 to $33
-- Revenue of $80 million to $82 million, from $77 million to $81 million
-- Non-GAAP net income of $4.5 million to $6.5 million, from $3 million to
$6 million
-- GAAP net income of $0.9 million to $2.6 million, from ($0.2) million to
$2.3 million


Fourth Quarter Earnings Release

Netflix will release its fourth quarter 2003 financial results on Wednesday, January 21, 2004 after the market close. The release will include the Company`s full-year guidance for 2004. A web cast of the quarterly earnings conference call will begin at 2:00 p.m. Pacific Time and can be accessed via the web at ir.netflix.com or at www.prnewswire.com. On the web cast the Company will discuss its financial results, including the results of its Q4 advertising testing.

About Netflix

Netflix is the world`s largest online movie rental service, providing more than one million subscribers access to over 15,000 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want, and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than 80 percent of its subscribers with generally next- day delivery. The company provides subscribers extensive information about DVD movies, including critic reviews, member reviews, online trailers, ratings, and personalized movie recommendations. For more information, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber growth, revenues, GAAP net income, Non-GAAP net income, subscriber acquisition cost and churn for the fourth quarter of 2003. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: unanticipated seasonal fluctuations in subscriber growth and customer usage, adjustments to our stock-based compensation expense, managing our subscriber acquisition cost as well as the mix between revenue sharing titles and titles not subject to revenue sharing that are delivered to our subscribers; our ability to attract new subscribers and retain existing subscribers; customer spending on DVD players, DVDs and related products; competition; disruption in service on our website or with our computer systems; and conditions that effect our delivery through the U.S. Postal Service;. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the SEC on March 31, 2003. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Non-GAAP Guidance Reconciliation Schedule

Fourth Quarter, 2003
Guidance Range
Non-GAAP net income reconciliation:
Net income $900 $2,600
Add back:
Stock-based compensation 3,600 3,900
Non-GAAP net income $4,500 $6,500




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Netflix Announces Fourth Quarter 2003 Ending Subscribers of 1,487,000, Up 74% Over the Prior Year
Friday January 2, 8:00 am ET


LOS GATOS, Calif., Jan. 2 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the fourth quarter of 2003 with approximately 1,487,000 total subscribers. Subscribers grew 74 percent year-over-year from 857,000 total subscribers at the end of the fourth quarter of 2002 and 15 percent sequentially from 1,291,000 total subscribers at the end of the third quarter of 2003.
ADVERTISEMENT


Paid Subscribers

Of the 1,487,000 total subscribers at quarter end, 95 percent or 1,416,000 were paying subscribers. The other 5 percent, or 71,000 subscribers, were new trial subscribers. Paying subscribers represented 93 percent of total subscribers at the end of the fourth quarter of 2002 and 96 percent of total subscribers at the end of the third quarter of 2003.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 5.9 percent of households at the end of the fourth quarter of 2003, up from 3.8 percent at the end of the fourth quarter of 2002 and up from 5.4 percent at the end of the third quarter of 2003. Household penetration in the rest of the country reached 1.3 percent at the end of the fourth quarter of 2003, up from 0.73 percent at the end of the fourth quarter of 2002 and up from 1.1 percent* at the end of the third quarter of 2003. Market research firm The NPD Group estimates that 63 percent of all U.S. households had a standalone DVD player as of the end of November 2003.

Fourth Quarter Earnings Release

Netflix will release its fourth quarter and fiscal year 2003 financial results on Wednesday, January 21, 2003 after the market close. The release will include guidance for 2004. A web cast of the quarterly conference call will begin at 2 p.m. PST and can be accessed via the web at ir.netflix.com or at www.prnewswire.com.

About Netflix

Netflix is the world`s largest online movie rental service, providing more than one million subscribers access to over 15,000 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want, and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than 80 percent of its subscribers with generally next-day delivery. The company provides subscribers extensive information about DVD movies, including critic reviews, member reviews, online trailers, ratings, and personalized movie recommendations. For more information, visit www.netflix.com.

This figure was previously reported incorrectly as 1.2%, due to the fact that the San Francisco Bay Area was inadvertently included in the calculation for the rest of the country.



--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

2:55PM Netflix extends rally, working toward Nov high (NFLX) 60.50 +4.60: Follow through buying has developed with NFLX working toward resistance at its Nov high of 60.55. Its Oct/52-wk high comes into play thereafter at 61.

[casinozock]

netflix rocksssssss

[panik]

Reuters
Netflix posts profit, announces stock split, CFO exit
Wednesday January 21, 4:38 pm ET


LOS ANGELES, Jan 21 (Reuters) - Netflix Inc. (NasdaqNM:NFLX - News) on Wednesday announced a fourth quarter profit, stock split and the departure of chief financial officer Barry McCarthy at the end of 2004.
The Los Gatos, Calif-based online movie rental service on Wednesday said fourth quarter revenue rose 80 percent to $81.2 million,

Netflix reported fourth quarter net income of $2.3 million, or 7 cents a share, compared to a net loss of $2.3 million, or 10 cents a share a year earlier.

[ustrading]

.. super Zahlen, super Ausblick ... aber mit einem KGV von über 80 für 2004 nicht gerade billig. Und ob sich dieses Wachstum auch in den nächsten Jahren fortsetzt mag ich bezweifeln ... die Konkurrenz (WallMart, Blockbuster) schläfft nicht und ich denke es wird in diesem Jahr zu einem Preiskampf führen der die Margins drückt.

[casinozock]

i love netflix!!!

[panik]

10:05AM NFLX: Still bullish on the biz, Neutral on the stock -- Roth 74.60 -0.58: Roth Capital raises tgt to $70, but maintains Neutral rating on Netflix; says co continues to excel on nearly every operating metric firm follows, but Roth`s discounted cash flow valuation does not support further appreciation from current levels.

[panik]

Netflix Updates Q1 Guidance Subscriber Growth Accelerates Significantly
Monday February 23, 4:30 pm ET


LOS GATOS, Calif., Feb. 23 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) today revised guidance for the first quarter ending March 31, 2004. The Company expects the Q1 percent growth in subscribers to exceed the growth rate in each of the prior four quarters on a year-over-year and quarter-over-quarter basis. The Company said that television advertising and on-line acquisition sources have caused its growth to accelerate significantly.
Revised Guidance
The Company revised guidance for the first quarter as follows:

-- Ending subscribers of 1,860 to 1,935 thousand from 1,750 to
1,825 thousand
-- Revenue of $96 to $101 million from $94 to $99 million
-- GAAP net loss of ($5.6) to ($8.1) million from ($1.2) to ($3.7) million
-- Non-GAAP net loss of ($0.9) to ($3.4) million from net income of
$1.0 to 3.5 million
-- Gross margin of 43 to 45 percent from 44 to 46 percent
-- Churn of 4.7 to 5.2 percent from 4.8 to 5.3 percent

The following guidance remains unchanged:

-- SAC of $34 to $36


Rapid subscriber growth, and the marketing expense associated with acquiring new subscribers, which is immediately expensed when a subscriber joins the Netflix service, primarily accounts for the downward revision in GAAP net loss guidance for the quarter.

The Company will update guidance for the full year 2004 in its earnings release for the first quarter 2004. Netflix expects to release its first quarter 2004 financial results on Thursday, April 15, 2004, after the market close. A webcast of the quarterly earnings conference call will begin at 2:00 pm PT and can be accessed via the web at http://ir.netflix.com .

About Netflix

Netflix is the world`s largest online movie rental service, providing more than one million subscribers access to over 18,000 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want, and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than 80 percent of its subscribers with generally next-day delivery. The Company provides subscribers extensive information about DVD movies, including critic reviews, member reviews, online trailers, ratings, and personalized movie recommendations. For more information, visit www.netflix.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber growth, revenues, GAAP net loss, Non-GAAP net loss, gross margin, subscriber acquisition cost and churn for the first quarter. These statements are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: managing our subscriber acquisition cost as well as the mix between revenue sharing titles and titles not subject to revenue sharing that are delivered to our subscribers; our ability to attract new subscribers and retain existing subscribers; fluctuations in consumer usage of our service and fluctuations in our stock price. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the SEC on March 31, 2003. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Netflix, Inc.
Non-GAAP Guidance Reconciliation Schedule
(unaudited)
(in thousands)
First Quarter, 2004
Guidance Range
Non-GAAP net loss reconciliation:
Net loss $(5,600) $(8,100)
Add back:
Stock-based compensation 4,700 4,700
Non-GAAP net loss $(900) $(3,400)




--------------------------------------------------------------------------------
Source: Netflix, Inc.

[panik]

Netflix Announces First Quarter 2004 Ending Subscribers of 1,932,000, Up 84 Percent Over the Prior Year
Thursday April 1, 8:58 am ET


LOS GATOS, Calif., April 1 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News) ended the first quarter of 2004 with approximately 1,932,000 total subscribers. Subscribers grew 84 percent year-over-year from 1,052,000 total subscribers at the end of the first quarter of 2003 and 30 percent sequentially from 1,487,000 total subscribers at the end of the fourth quarter of 2003. Television advertising and online acquisition sources together with low churn across the subscriber base contributed to this strong performance.
Paid Subscribers

Of the 1,932,000 total subscribers at quarter end, 95 percent or 1,842,000 were paying subscribers. The other 5 percent, or 90,000 subscribers, were new trial subscribers. Paying subscribers represented 96 percent of total subscribers at the end of the first quarter of 2003 and 95 percent of total subscribers at the end of the fourth quarter of 2003.

Household Penetration

Household penetration in the San Francisco Bay Area rose to 7.2 percent of households at the end of the first quarter of 2004, up from 4.6 percent at the end of the first quarter of 2003 and up from 5.9 percent at the end of the fourth quarter of 2003. Household penetration in the rest of the country reached 1.7 percent at the end of the first quarter of 2004, up from 0.90 percent at the end of the first quarter of 2003 and up from 1.3 percent at the end of the fourth quarter of 2003.

First Quarter Earnings Release

Netflix will release its first quarter 2004 financial results on Thursday, April 15, 2004 after the market close. A web cast of the quarterly conference call will begin at 2 p.m. PDT and can be accessed via the web at http://ir.netflix.com .

About Netflix

Netflix is the world`s largest online movie rental service, providing more than one million subscribers access to over 18,000 DVD titles. For $19.95 a month, Netflix subscribers rent as many DVDs as they want, and keep them as long as they want, with three movies out at a time. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by first-class mail from regional shipping centers located throughout the United States. Netflix can reach more than 80 percent of its subscribers with generally next-day delivery. The company provides subscribers extensive information about DVD movies, including critic reviews, member reviews, online trailers, ratings, and personalized movie recommendations. For more information, visit www.netflix.com.




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Source: Netflix, Inc.

[Pennybroker]

Netflix dürfte bald deutlich abgehen.
Derzeit sind ca. zwischen 50 und 75% der Aktien leerverkauft.
Das wird Hedgefonds anziehen -
Die werden dann ihr Spielchen treiben und den Kurs der Aktie in die Höhe treiben.
Die Short-Seller dürften dann in Panik geraten und werden Ihre Positionen eindecken müssen. Das wird wiederum für weiter steigende Notierungen sorgen.

Ich hab mir heute ein paar Netflix Aktien mit einem "nahen" Stopp loss ins Depot gelegt und warte auf den "short squeeze"

cu
Pennybroker

[Pennybroker]

Netflix hat übrigens 146 Mio Dollar Cash in der Bilanz.
Somit können die also ruhig noch ein paar Monate ihr Geld "verbrennen". Das sind ca. 2,80 USD pro Aktie.

Aktuell macht Netflix einen Verlust von 0,03 USD im Quartal. Da Netflix den Preis fürs Abo noch um 10% angezogen hat dürfte mann noch schneller in die Gewinnzone rutschen. Außer es steigen zu viele Kunden aus.

Na was meint Ihr? Wer gewinnt das Spiel(long oder short)?

cu Pennybroker

PS: ich setzte mittelfristig auf long

[mfierke]

da werde ich mir doch ein paar holen