Priceline: Analyse - 500 Beiträge pro Seite

[Thefuturestocks.com]

Anfang März sah die Zeit für Priceline- Aktionäre noch rosig aus, der Kurs war innerhalb weniger Wochen von $ 50 auf nahezu $ 100 gestiegen. Kaum 7 Monate später hat sich das Bild wieder gewandelt. Der Aktienkurs von Priceline ist auf bis zu $ 4,625 gefallen. Was war passiert? Zuerst hatte der schwache Gesamtmarkt Priceline auf $ 30 fallen lassen, anschließend taten eine Umsatzwarnung und die vorübergehende Einstellung des WebHouse Clubs ihr übriges. Gehört Priceline also zu den vielen Internetunternehmen, deren Geschäftsmodell nicht aufgeht und die nie in der Lage sein werden einen Gewinn zu erwirtschaften? Wohl kaum!
Die Firma Priceline ist der Erfinder des „ name your own price“ Modells. Das patentierte System ermöglicht es Kunden ihren eigenen Preis festzulegen, den sie bereit sind für ein Produkt zu zahlen. Priceline entscheidet anschließend, ob der Auftrag ausgeführt wird oder nicht. Auf diese Weise vermittelt Priceline Flugtickets, Hotelzimmer, Mietwagen, Kredite, Neuwagen und Ferngespräche. Bis vor kurzem wurden im sogenannten WebHouse Club, einer Tochtergesellschaft von Priceline, zusätzlich noch Benzin und Lebensmittel verkauft. Der WebHouse Club hat sein Angebot mittlerweile für 90 Tage eingestellt, da das Management keine Möglichkeit sah ohne eine erneute kostspielige Werbekampagne den Break-Even zu erreichen. Die hohen Kosten für die Werbekampagne müssten durch eine Kapitalerhöhung finanziert werden, was bei dem aktuellen Aktienkurs sicherlich nicht sinnvoll wäre. Prinzipiell ist die Entscheidung positiv zu werten, da daran deutlich wird, dass größten Wert auf eine baldige Profittabilität gelegt wird, auch wenn die Umsätze in den nächsten 6 Monaten unter der Entscheidung leiden werden. Die vorübergehende Einstellung des WebHouse Clubs ist auch nicht auf eine akute Finanzknappheit zurückzuführen. Allein in den vergangenen 2 Monaten hat Priceline Aktienoptionen im Wert von 240 Mio. USD verkauft. Die Käufer waren u.a. Vulcan Ventures (die Venture Capital Gesellschaft von Microsoft Mitgründer Paul Allen) und Liberty Media Corp., eine Tochtergesellschaft von AT&T.
Wir gehen davon aus, dass Priceline im 4. Quartal erstmals schwarze Zahlen schreibt, für das 3.Quartal rechnen wir mit einem geringfügigen Verlust der auch durch den geringeren Umsatz nicht größer werden sollte. Mitte September hatte Priceline seine Anleger mit einer Umsatzwarnung geschockt, statt der erwarteten 360- 380 Mio. USD solle nur 340- 345 Mio.USD erzielt werden. Die Quartalszahlen werden am 2. November veröffentlicht, trotz der Umsatzwarnung rechnen wir damit, dass der Umsatz noch leicht geringer ausfällt als in den aktuellen Planungen. Dies sollte in dem Aktienkurs aber bereits enthalten sein. Zukünftiges Wachstum wird durch die Erweiterung der Geschäftsmodells, Expansion und die Vergabe von Lizenzen zu erreichen sein. Momentan expandiert Priceline u.a. nach Japan, hierfür wurde eine Kooperation mit Softbank, zur Erstellung von Priceline.com Japan Corp. , abgeschlossen. Softbank stellt für das gemeinsame Projekt das Personal und Management und Priceline sein Lizenzmodell zur Verfügung.
Wir halten den starken Fall des Aktienkurses für weit übertrieben, allein die Umsatzwarnung hat den Kurs um 40 % abstürzen lassen. Priceline wird mit einem KUV von unter 1 gehandelt. Das 2001er KGV beträgt 37. Wir rechnen damit, dass Priceline überproportional von einer Erholung der Nasdaq profitieren kann. Unser Kursziel auf Sicht von 6 Monaten beträgt $15.


http://www.thefuturestocks.com

[Table_Top]

..
klar,

mein aktuelles Limit 5 5/16.

Werd ich nicht immer großzügiger ?

Grüße

TT

[Taxxi]

Priceline startet Angebot in England

Die in den letzten Tagen schwer gebeutelte Internetfirma Priceline.com gab heute bekannt, ab Ende des Monats auch in England zu starten. Über die neue Seite sollen allerdings nur Flugtickets verkauft werden, da dort die Umsatzchancen am größten sind.
Ab Januar soll es das Priceline-Konzept für ganz Europa mit zusätzlichen Angeboten geben.

[Table_Top]

..
es vergeht doch scheinbar kein Tag mehr ohne pcln-Schnäppchen.

Obwohl ich mir heute erstmals nicht sicher bin,
schon intraday meine Kohlen einfahren zu können??

5 9/16,....would be nice



Grüße

TT

[J3142]

Priceline.com Gears Up For Asia Expansion

By Shane Abrahams

[October 16, 2000--HONG KONG] Priceline.com last week announced it had
signed a deal with Equant to build European, Asian and Australian versions of its Web
site.

The name-your-own-price e-commerce site already uses Equant`s platform in the
U.S., and will now extend it to Priceline.com sites around the globe.

In Asia, Priceline.com has already announced it will work with Hutchison Whampoa
to bring its service to China, Hong Kong, India, Taiwan, Indonesia, Singapore,
Thailand, Korea, Malaysia, the Philippines and Vietnam.

At the time of the announcement, Richard Braddock, chairman and chief executive of
Priceline said: "The Pacific Rim is projected to be one of the most dynamic economic
regions of the new millennium, with the Internet being one of the region`s fastest
growing industries. Any Internet company expecting to be a major world player needs
to establish a significant, meaningful and long-term presence in Asian countries."

However, while Priceline.com has managed to build up one of the strongest brands in
e-commerce, it has also had its fair share of problems. On September 27, the
company announced that it anticipated its third quarter revenues would be $30 million
less than analyst`s estimates.

The company has recently been battered by Wall Street, closing its WebHouse Club
gasoline and grocery service due to lack of funds. Shares of Priceline.com closed
Friday at 6.312, down from a 52 week high of 104.25 earlier this year.


in amerika über +10% heute

[DOXA DRAMA]

nachbörslich 17.55Uhr 5,56$ +14,10% vol 2138600

[cybertrade]

hier noch ein interessantes posting auf iexchange.com

Posted: 10/12/2000
"wookie767" on PRICELINE.COM
PCLN will be $38.00 by 10/12/2001
PCLN was $5.86 on 10/12/2000)
Can it go any further??

The market, in light of the present negative sentiments towards the slowdown in earnings, have over-reacted to PCLN`s closings of Webhouse Grocery and Gasoline. While there has been a slowdown in plane ticket sales, Delta has allowed PCLN to sell from other airlines from the Atlanta hub, which was the busiest in the world in 1999. PCLN *will* do whatever necessary to get more tickets approved. In addition, the licensing fees from Webhouse is a mere pittance, and the "loss" of Webhouse equity is not in the balance sheet of PCLN. Please do your DD. I`m opening a long position on this and holding it through the year.
Remember to Invest Wisely!

easy money
ct

[bounty sw]

Hello,
mich tröstet das alles nicht, snifff, sniff ...
hab doch die Dinger für € 57 gekauft und bei € 29,60 nochmals nachgekauft (im besagten Zeitraum Juli/Aug).
Wie es aussieht könnte ich sie entweder abstoßen, innerhalb der SpekuFrist (Verlust dann mit zukünftigen Gewinne verrechnen) oder sie erstmals für ein paar Jährchen in die Schublade legen und vergessen... vielleicht kommt dann doch noch ein Yupiiii !!!
Nicht ganz abwägig ist der Gedanke, dass wenn PCLN einmal in Asien und Europa fest etabliert ist der Kurs nach oben schießt, sie haben nunmal das Patent ( hoffe doch sehr, dass das Patent auch in Asien, Europa, Afrika, Australien, etc... angemeldet ist !) .
Bounty

[J3142]

NEW YORK, Oct 18 (Reuters) - Consumers who expected the Internet to transform their shopping chores
into an armchair click-and-save lifestyle are having to think again.

In the past few weeks, three of the most high-profile companies that had pledged to change the way we buy
everything from books to filet mignon and gasoline have had to close down key operations or raise prices.

Last week, Urbanfetch.com -- which promised to deliver just about anything to doorsteps in major cities
within an hour -- closed its consumer operations in the United States and Britain. It will now only focus on
serving businesses, in the process becoming little more than a courier service.

The week before, Webhouse Club -- the gasoline and groceries affiliate of name-your-own-price online
company Priceline.com Inc. (PCLN.O) -- said it was shutting down.

Meanwhile, the king of Internet retailers, Amazon.com Inc. (AMZN.O), has reduced its discounts on books
-- the product on which it built its reputation. That means finding a bargain not available in a local bookstore,
especially once shipping costs are included, has become that much more difficult.

The promised revolution has fizzled out, analysts say, because investors lost patience with companies that
showed little immediate sign of delivering profits, and because many Web retailers underestimated how
much money it would take them to get their name around and to literally deliver the goods.

At the prime of the Internet shopping frenzy in the past two-and-a-half years, people thought the Internet
would "redefine the retailing experience," says Ken Cassar, senior analyst at Jupiter Research, an arm of
Internet research firm Jupiter Media Metrix. "It`s become clear that that is not the case -- it`ll be a nice
supplemental channel, while bricks and mortar stores will remain the primary channels."

OVERBLOWN EXPECTATIONS

Indeed, consumers have been slower than expected to abandon brick-and-mortar shopping -- be it driving to
large out-of-town malls or hopping to the corner grocery store.

"The expectations were overblown two years ago," says Norman White, an associate professor of
information systems, who teaches e-commerce at New York University. "They thought consumers would
change overnight. Obviously, they won`t."

Now, the main thrust of shopping on the Internet seems to be for items that are too far removed from the
mainstream for the corner store to stock, or orders large enough to mitigate shipping and handling costs,
experts say.

Despite all the fanfare, online shopping still represents just 1 percent or less of all sales, according to
Robert Labatt, research director at research firm Gartner Group.

While shoppers stick to their familiar brick-and-mortar markets, it is the stock market that has forced the
decisions by the likes of Priceline, Urbanfetch and Amazon.

The technology-dominated Nasdaq stock market`s composite index (.IXIC) has plunged more than 35
percent from its highs in mid-March and TheStreet.com`s Internet index (.DOT) has lost about 60 percent in
the same period.

The carnage in the Internet retail field has been much worse. Priceline stock has lost more than 90 percent
of its value since March and Amazon has plunged about 80 percent from a 52-week high in December.

CALLING FOR PROFITS

The slump has prompted investors, be they venture capital providers, institutional shareholders or
individuals, to demand that Web retailers focus on producing a profit now rather than vaguely offering the
possibility of gains in the future.

As a result, many leading players have closed or filed for bankruptcy. Casualties include Value America
Inc. (VUSA.O), Boo.com and Amazon-backed Living.com.

The financing squeeze also has exposed concepts that may not have been workable from the moment they
were dreamt up.

That may have been the case with Priceline`s WebHouse affiliate. Priceline founder and Vice Chairman Jay
Walker, who just a couple of months ago pumped $125 million into WebHouse by selling part of his
Priceline stake, said he was unable to raise enough money to keep the idea going.

Walker had hoped that the Priceline model -- which allows consumers to bid down prices for airline tickets
and hotel rooms -- could succeed with groceries. But in the end, the major grocery manufacturers were not
playing ball, effectively leaving Walker to subsidise consumer purchases.

The inability to reach critical mass may also be a problem.

"People began to believe that Internet retailers would become a huge, high-volume, low-margin machine,"
says Cassar. "It`s become apparent now that it will not be able to generate as much volume as it was
thought."

PURSE-EMPTYING ADVERTISING

Part of the reason for the lower-than-expected volume is that consumers are choosing products on the Web
that make economic sense even after shipping and other charges, he said.

Ironically, one of the main attractions of online shopping -- deliveries to the doorstep -- is partly responsible
for putting the idea of low cost Internet shopping in jeopardy.

For example, bicycle courier costs for services such as Urbanfetch.com, which offered free delivery, may be
too high if the customer just wants coffee and a video.

And for consumers, shipping and handling charges can transform a bargain $5 paperback into an overpriced
$10 novel.

E-tailers also have been hurt by high marketing and advertising expenses, once expected to ultimately
head toward zero on the theory that loyal Web veterans wouldn`t need to be reminded about the site,
Cassar says. This proved wrong.

"They have to remind customers because they don`t have the brick-and-mortar store that Wal-Mart
(WMT.N) has that I drive by on my way home from work," he said.

Many Internet retailers also have yet to build up the infrastructure, including large warehouses, that
heavyweight retailers such as Wal-Mart and Kmart (KM.N) already have.

Ultimately, the future of profitable Internet retailing lies in serving a niche market for goods unavailable at the
corner store or mall and in traditional retailers supplementing their businesses with the Internet, says
Cassar.

For while consumers have taken to buying some products online, there hasn`t been a shopping revolution.

"It has made consumers` lives easier, but it only allowed them to do that for 1 percent or less than 1
percent of their lives," says Gartner`s Labatt. Rtr 07:35 10-18-00

[J3142]

warum sind wir heute im minus?
waren doch in amerika im plus am freitag 5%

[Thefuturestocks.com]

Priceline wird in einigen Minuten Quartalszahlen veröffentlichen.
Man kann gespannt sein.

[fsch]

Alles kalter Kaffee...



p.s.:
Morgen geht der Punk ab

[tumla]

Hier die Meldung von Priceline, jetzt können wir nur hoffen, dass sich das Blatt zum Guten wendet.
NORWALK, Conn.--(BUSINESS WIRE)--Nov. 2, 2000--Priceline.com (Nasdaq: PCLN, news, msgs) today reported results for the 3rd quarter ended September 30, 2000.
The Company reported a 3rd quarter pro forma net loss of $0.01 per share, compared to a pro forma net loss of $0.08 per share reported in 3rd quarter 1999. Revenues during the period reached $341 million, representing a 124% increase over revenues of $152 million reported during the comparable period in 1999.

Pro forma gross margin for 3rd quarter 2000 was a record high 15.9% compared to pro forma gross margin of 12.2% in 3rd quarter 1999 and 15.7% during the 2nd quarter 2000.

Priceline.com`s customer base increased to 8 million during the 3rd quarter 2000. In addition, 51% of all purchase offers received by priceline.com in 3rd quarter 2000 came from repeat customers -- a company record. That compares to a 31% repeat offer rate in 3rd quarter 1999 and 39% in 2nd quarter 2000. Repeat offers were 1.4 million in 3rd quarter 2000, a 247% increase over the prior year and a 47% increase over 2nd quarter 2000. Our acquisition cost remained competitive, as our advertising cost per new customer acquired averaged $11.35 in the 3rd quarter 2000.

Priceline.com sold approximately 1.29 million leisure airline tickets during 3rd quarter 2000, compared to approximately 624,000 tickets sold in the same period a year ago. The Company`s non-air travel services (hotel room nights and rental car days) sold a combined 1.1 million units during 3rd quarter 2000. Revenues from the Company`s non-air services grew by $10 million, or an average of 20%, over 2nd quarter 2000 and by 255% over the prior year period (rental cars were first offered in February 2000). Gross margin in the non-air services increased sequentially by more than 8%.

Some of the Company`s key metrics are summarized below:



Quarter Ended Quarter Ended
September 30, 2000 (a) September 30, 1999 (b) %Change (c)
------------------------------------------------------

Revenues $ 341 million $ 152 million 124%

Pro Forma
Gross Profit $ 54 million $ 19 million 193%

Pro Forma
Operating Loss $ (4) million $ (14) million 69%

Pro Forma
Net Loss $ (2) million $ (12) million 81%
Pro Forma Net
Loss Per Share $ (0.01) $ (0.08) 84%


(a) Pro Forma gross profit, operating loss, net loss and net loss per

share exclude $381,000 in non-cash supplier warrant charges; pro

forma operating loss, net loss and net loss per share also exclude

option payroll taxes ($349,000), write off of the WebHouse Club

warrant ($189 million) and preferred stock dividends ($7 million).

(b) Pro Forma gross profit, operating loss, net loss and net loss per

share exclude $381,000 in non-cash supplier warrant charges; pro

forma operating loss, net loss and net loss per share also exclude

option payroll taxes ($2 million) and supplier start-up costs ($88

million).

(c) Percentage changes are calculated based on numbers that have not

been rounded and that are presented in the financial data

supplement attached to this press release.

The Company had positive operating cash flow for 3rd quarter 2000. In addition, priceline.com had pro forma EBITDA (pro forma operating earnings before interest, taxes, depreciation and amortization) which was slightly positive. "We are pleased to have shown positive operating cash flow for the second quarter in a row, and at September 30, 2000, we had $131 million of cash and short-term investments," stated Daniel H. Schulman, priceline.com`s President and Chief Executive Officer.

"While we are disappointed in our airline ticket sales revenue for the 3rd quarter, we believe that the business made solid progress on several fronts," said Mr. Schulman. "Our total customer base grew to 8 million. Repeat usage also grew, with slightly more than half of all purchase offers coming from repeat customers."

Schulman continued, "Priceline.com`s non-airline ticket businesses are also starting to deliver results. Non-air businesses brought in 19% of our 3rd quarter revenue, compared to 12% a year ago. We are also seeing significant cross sell, with approximately half of our hotel and rental car sales made to customers who purchased airline tickets through priceline.com and a significant portion of long distance sales coming from existing priceline.com customers."

Business Initiatives

The Company is also implementing a number of measures to improve its cost structures in order to achieve long-term profitability and strengthen its business. "While priceline.com has achieved measurable success in building a major internet commerce business in a short time, we recognize the need to improve customer service and streamline our cost structure," said Mr. Schulman. "This will allow us to position ourselves for future profitable growth."

"Our number one priority is customer satisfaction and service," stated Mr. Schulman. "A strong customer savings proposition has fueled our growth and we are working on a comprehensive program to ensure that our customers are satisfied in all respects. We are in the process of rolling out a number of educational initiatives to more clearly demonstrate the priceline value proposition to customers. To that end, our product development, customer service and marketing teams are working on enhancements to our web site, product delivery and processes to incorporate both consumer and third-party feedback. These teams are also looking at new ways to ensure that customer questions or issues are promptly and fairly addressed," he continued.

The Company announced that it had realigned its operating management, including the promotion of Jeff Boyd to COO. The Company also stated that Heidi Miller, Senior Executive Vice President and CFO, has decided to leave priceline.com. "We appreciate the contribution that Heidi has made," said Mr. Schulman, "and respect her decision to pursue opportunities and apply her talents in a more established business environment. We know she is supportive of the long-term direction the Company is taking and wish her the best in her future endeavors." Priceline.com announced the appointment of Bob Mylod as CFO to replace Ms. Miller. "Bob Mylod previously served as our Senior VP - Finance, and he knows the Company`s business and the Internet, and we are confident he will make a significant contribution to priceline.com and rounds out a strong and dedicated management team," said Mr. Schulman.

The Company intends to implement a new compensation program designed to retain and motivate key employees. The program will consist primarily of equity based compensation, as well as certain cash and other compensation. The program will result in an increase in non-cash and cash compensation expense in the 4th quarter 2000 and certain ongoing non-cash expenses related to restricted stock awards. More details concerning this program will be included within the Company`s 4th quarter results and future SEC filings.

Priceline.com also announced staff reductions of 87 members of its total work force of 535 employees. This reduction, the compensation program and other measures will result in restructuring and other charges that are not currently determinable and that will be recognized in the 4th quarter.

"While the effect of these charges will adversely impact 4th quarter results, we believe they are necessary and appropriate to position the Company for long-term improvement of its operating results," Mr. Schulman stated. The Company also stated that it believed that the effects of negative news and other factors which adversely affected it in September continued in October, with October ticket sale revenues expected to be approximately 20% below September`s results. "While demand for tickets has stabilized over the last few weeks, given seasonal factors, we expect revenues to decrease sequentially in the fourth quarter," stated Mr. Schulman.

As part of its long-term relationship with Delta Air Lines, which remains a significant holder of priceline.com equity, priceline.com amended the terms of the warrants held by Delta Air Lines and, as a result, will take a non-cash charge of approximately $9 million in the 4th quarter. In connection with the amendment, priceline.com reduced the number of shares underlying the warrant to 4.675 million shares from 5.5 million shares, and reduced the strike price from $56.63 per share to market.

"Although weakness in airline ticket sales has hurt our recent results, our 3rd quarter customer metrics and performance on other fronts make us confident as to the outlook for our business. We believe we are taking the right steps to position priceline.com for future profitable growth in our core businesses," concluded Mr. Schulman.

About priceline.com

Priceline.com is the Name Your Own Price(sm) patented Internet pricing system. Priceline.com currently provides services across four broad product categories: a travel service that offers leisure airline tickets, hotel rooms and rental cars; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars, and a telecommunications service that offer long distance calling services.

Information about forward looking statements

This press release may contain forward-looking statements. Expressions of future goals and similar expressions including, without limitation, "may," "will," "should," "could," "expects," "does not currently expect," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," reflecting something other than historical fact are intended to identify forward-looking statements. The following factors, among others, could cause the Company`s actual results to differ materially from those described in the forward-looking statements: inability to successfully expand the Company`s business model both horizontally and geographically; adverse changes in the Company`s relationships with airlines and other product and service providers; systems-related failures; the Company`s ability to protect its intellectual property rights; the effects of increased competition; losses by the Company and its licensees; any adverse impact from negative publicity and negative customer reaction relating to recent announcements concerning the Company; legal and regulatory risks and the ability to attract and retain qualified personnel. For a detailed discussion of these and other factors that could cause the Company`s actual results to differ materially from those described in the forward-looking statements, please refer to the Company`s most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission.



priceline.com Inc.
-----------------------------------------------------------------------
Pro Forma Condensed Statement of Operations
In thousands, except per share amounts
(Unaudited)

Income Statement
Analysis 1Q99 2Q99 3Q99 4Q99
----------------------------------------------------------------------

Revenues $49,411 $111,564 $152,222 $169,213

Cost of Revenues
Product costs 43,659 100,664 133,628 145,104
---------- -------------------------------------
Total Cost of
Revenues 43,659 100,664 133,628 145,104

Gross Profit $5,752 $10,900 $18,594 $24,109
---------- -------------------------------------

Expenses:
Advertising 11,796 8,980 9,504 10,404
Sales and
Marketing 5,342 8,753 11,909 12,889
General and
Administrative 3,667 5,503 6,843 9,784
Systems and
Business
Development 2,184 3,469 4,593 3,777
---------- -------------------------------------

Total Operating
Expenses $22,989 $26,705 $32,849 $36,854

Operating Loss ($17,237) ($15,805) ($14,255) ($12,745)

Interest Income 458 1,929 2,356 2,757
---------- -------------------------------------

Net Loss ($16,779) ($13,876) ($11,899) ($9,988)
========== =====================================

Pro Forma Net
Loss per Share ($0.18) ($0.10) ($0.08) ($0.06)
========== =====================================

Recurring Supplier
Warrant Costs (381) (381) (381) (381)

One-Time
Supplier
Warrant Costs 0 0 (88,389) (1,099,443)

Other Expense 0 0 0 (380)

Option Payroll
Taxes 0 0 (1,547) (265)

Preferred
Stock Dividend 0 0 0 0

WebHouse Club
Warrants 0 0 0 189,000

Gain on Sale
of Stock 0 0 0 0

Accretion on
Preferred Stock (8,354) 0 0 0
---------- -------------------------------------

Net Loss ($25,514) ($14,257) ($102,216) ($921,457)

Net Loss Applicable
to Common
Shareholders ($0.27) ($0.10) ($0.71) ($5.91)

Weighted average
common shares 94,939 142,320 144,501 156,032
Common Shares
Outstanding,
end of period 142,320 142,320 146,427 163,867

Gross Margin 11.6% 9.8% 12.2% 14.2%


Income Statement 3Q00 vs.
Analysis 1Q00 2Q00 3Q00 3Q99
----------------------------------------------------------------------

Revenues $313,798 $352,095 $341,334 124%

Cost of Revenues
Product costs 264,771 296,919 286,899 115%
------------ ------------ ------------
Total Cost of
Revenues 264,771 296,919 286,899 115%

Gross Profit $49,027 $55,176 $54,435 193%
---------------------------------------

Expenses:
Advertising 20,339 13,826 14,175 49%
Sales and
Marketing 20,110 23,791 21,394 80%
General and
Administrative 12,704 15,222 11,934 74%
Systems and
Business
Development 5,868 6,695 11,420 149%
------------ ------------ ------------

Total Operating
Expenses $59,021 $59,534 $58,923 79%

Operating Loss ($9,994) ($4,358) ($4,488) -69%

Interest Income 2,715 2,725 2,264 -4%
------------ ------------ ------------

Net Loss ($7,279) ($1,633) ($2,224) -81%
=======================================

Pro Forma Net
Loss per Share ($0.04) ($0.01) ($0.01) 88%
=======================================

Recurring Supplier
Warrant Costs (381) (381) (381) 0%

One-Time
Supplier
Warrant Costs 0 0 0 -100%

Other Expense 0 0 0 -

Option Payroll
Taxes (5,907) (2,507) (349) -77%

Preferred
Stock Dividend 0 (7,191) (7,191) -

WebHouse Club
Warrants 0 0 (189,000) -

Gain on Sale
of Stock 0 0 32 -

Accretion on
Preferred Stock 0 0 0 -
-----------------------------------------------

Net Loss ($13,567) ($11,712) ($199,113) 95%

Net Loss Applicable
to Common
Shareholders ($0.08) ($0.07) ($1.19) 68%

Weighted average
common shares 166,467 165,399 167,059 16%
Common Shares
Outstanding,
end of period 170,162 166,549 167,806 15%

Gross Margin 15.6% 15.7% 15.9%


Income Statement
Analysis 9 mos. 1999 9 mos. 2000 9 mos. 1999
----------------------------------------------------------------

Revenues $313,197 $1,007,227 222%

Cost of Revenues
Product costs 277,951 848,589 205%
------------ ------------
Total Cost of
Revenues 277,951 848,589 205%

Gross Profit $35,246 $158,638 350%
------------ ------------

Expenses:
Advertising 30,280 48,340 60%
Sales and
Marketing 26,004 65,295 151%
General and
Administrative 16,013 39,860 149%
Systems and
Business
Development 10,246 23,983 134%
------------ ------------

Total Operating
Expenses $82,543 $177,478 115%

Operating Loss ($47,297) ($18,840) -60%

Interest Income 4,743 7,704 62%
------------ ------------

Net Loss ($42,554) ($11,136) -74%
============ ============

Pro Forma Net
Loss per Share ($0.30) ($0.07) -78%
============ ============

Recurring Supplier
Warrant Costs (1,143) (1,143) 0%

One-Time
Supplier
Warrant Costs (88,389) 0 -100%

Other Expense - 0 -

Option Payroll
Taxes (1,547) (8,763) 466%

Preferred
Stock Dividend - (14,382) -

WebHouse Club
Warrants - (189,000) -

Gain on Sale
of Stock - 32 -

Accretion on
Preferred Stock (8,354) 0 -100%
------------ ------------

Net Loss ($141,987) ($224,392) 58%

Net Loss Applicable
to Common
Shareholders ($1.02) ($1.35) 32%

Weighted average
common shares 139,817 166,389 19%
Common Shares
Outstanding,
end of period 142,320 167,806 18%

Gross Margin 11.3% 15.7%

priceline.com Inc.
----------------------------------------------------------------------
Condensed Balance Sheet
In thousands
(Unaudited)

ASSETS 03/31/1999 06/30/1999 09/30/1999 12/31/1999
------------ ---------- ---------- ----------

CURRENT ASSETS:
Cash and cash equivalents $30,594 $142,803 $115,470 $133,172
Short term investments - 9,307 77,446 38,771
Proceeds receivable from
sale of common stock 149,040 - - -
Accounts receivable, net
of allowance for
uncollectible accounts 9,916 22,684 27,486 21,289
Related party receivable 1,274 1,384 3,371 508
Prepaid expenses and
other current assets 6,565 7,339 10,463 17,999
------------------------------------------
Total current assets $197,389 $183,517 $234,236 $211,739

PROPERTY AND EQUIPMENT - net 10,010 15,311 20,611 28,006
RELATED PARTY RECEIVABLE - 4,375 9,113 8,838
WARRANTS TO PURCHASE
COMMON STOCK OF LICENSEES - - - 189,000
OTHER ASSETS 2,340 1,592 3,105 4,303
--------- ---------- ---------- ----------

TOTAL ASSETS $ 209,739 $ 204,795 $ 267,065 $ 441,886
========= ========== ========== ==========

LIABILITIES AND
STOCKHOLDERS` EQUITY

CURRENT LIABILITIES:
Accounts payable $13,052 $26,934 $32,874 $24,302
Preferred stock
dividends payable - - - -
Accrued expenses 8,913 6,404 10,177 13,695
Other current
liabilities 135 136 651 1,253
--------- ---------- ---------- ----------
Total current
liabilities $22,100 $33,474 $43,702 $39,250

LONG-TERM DEBT - net 990 - - -

Capital lease
obligations 19 12 5 -
--------- ---------- ---------- ----------

Total liabilities $23,109 $33,486 $43,707 $39,250
--------- ---------- ---------- ----------

MANDATORILY REDEEMABLE
CONVERTIBLE PREFERRED
STOCK - - - -
--------- ---------- ---------- ----------

STOCKHOLDERS` EQUITY
Preferred stock - - - -
Common stock 1,139 1,139 1,171 1,311
Treasury stock - - - -
Additional paid-in
capital 327,945 326,881 481,113 1,581,708
Accumulated other
comprehensive income - - - -
Accumulated deficit (142,454) (156,711) (258,926)(1,180,383)
------------------------------------------
------------------------------------------
Total stockholders`
equity 186,630 171,309 223,358 402,636
------------------------------------------

TOTAL LIABILITIES
AND STOCKHOLDERS`
EQUITY $209,739 $204,795 $267,065 $441,886
==========================================

ASSETS 03/31/2000 06/30/2000 09/30/2000

CURRENT ASSETS:
Cash and cash equivalents $125,855 $95,434 $104,501
Short term investments 23,625 43,273 26,122
Proceeds receivable from
sale of common stock - - -
Accounts receivable, net
of allowance for
uncollectible accounts 52,751 38,993 24,199
Related party receivable 108 3,771 5,532
Prepaid expenses and
other current assets 15,782 27,182 20,755
------------- ------------ ------------
Total current assets $218,121 $208,653 $181,109

PROPERTY AND EQUIPMENT - net 37,130 41,592 46,257
RELATED PARTY RECEIVABLE 13,404 15,789 15,089
WARRANTS TO PURCHASE
COMMON STOCK OF LICENSEES 189,000 192,250 3,250
OTHER ASSETS 25,062 34,554 39,868
------------- ----------- -----------

TOTAL ASSETS $ 482,717 $ 492,838 $ 285,573
============= =========== ===========

LIABILITIES AND
STOCKHOLDERS` EQUITY

CURRENT LIABILITIES:
Accounts payable $59,411 $73,292 $59,447
Preferred stock
dividends payable - 7,191 14,382
Accrued expenses 13,766 15,998 17,324
Other current
liabilities 4,280 4,454 3,739
------------- ---------- ----------
Total current
liabilities $77,457 $100,935 $94,892

LONG-TERM DEBT - net - - -

Capital lease
obligations - - -
------------- ---------- ----------

Total liabilities $77,457 $100,935 $94,892
------------- ---------- ----------

MANDATORILY REDEEMABLE
CONVERTIBLE PREFERRED
STOCK - 359,580 359,580
------------- ----------- -----------

STOCKHOLDERS` EQUITY
Preferred stock - - -
Common stock 1,361 1,380 1,390
Treasury stock - (359,580) (359,580)
Additional paid-in
capital 1,591,880 1,593,961 1,595,228
Accumulated other
comprehensive income 5,969 2,224 (1,162)
Accumulated deficit (1,193,950) (1,205,662) (1,404,775)
------------- ------------ ------------
------------- ------------ ------------
Total stockholders`
equity 405,260 32,323 (168,899)
------------- ------------ ------------

TOTAL LIABILITIES
AND STOCKHOLDERS`
EQUITY $482,717 $492,838 $285,573
============= ============ ==========

priceline.com Inc.
Air

1Q99 2Q99 3Q99
--------- -------- ---------
Tickets Sold 186,521 440,339 623,848

Net Unique Offers 570,947 822,887 1,077,111
Offers Booked 108,917 280,471 397,355
Bind Rate 19.1% 34.1% 36.9%

4Q99 1Q00 2Q00
---------- ---------- ----------
Tickets Sold 707,343 1,250,416 1,288,592

Net Unique Offers 1,129,711 1,820,918 1,753,273
Offers Booked 442,089 801,204 869,408
Bind Rate 39.1% 44.0% 49.6%

3Q00 vs.
3Q00 3Q99 9 mos. 1999
---------- ----------- -----------
Tickets Sold 1,290,096 107% 1,250,708

Net Unique Offers 1,756,236 63% 2,470,945
Offers Booked 886,135 123% 786,743
Bind Rate 50.5% 31.8%

9 mos. 2000 vs.
9 mos. 2000 9 mos. 1999
------------ -------------

Tickets Sold 3,829,104 206%

Net Unique Offers 5,330,427 116%
Offers Booked 2,556,747 225%
Bind Rate 48.0%

priceline.com Inc.

Hotels

1Q99 2Q99 3Q99
--------- ----------- ----------
Room Nights Sold 45,580 92,134 179,508

Net Unique Offers 68,740 168,543 220,613
Offers Booked 15,717 36,854 78,047
Bind Rate 22.9% 21.9% 35.4%


4Q99 1Q00 2Q00
-------- -------- --------
Room Nights Sold 192,795 409,514 432,463

Net Unique Offers 208,991 383,708 431,249
Offers Booked 83,824 180,343 195,517
Bind Rate 40.1% 47.0% 45.3%


3Q00 vs.
3Q00 3Q99 9 mos. 1999
-------- --------- --------

Room Nights Sold 526,450 193% 317,222

Net Unique Offers 511,396 132% 457,896
Offers Booked 244,655 213% 130,618
Bind Rate 47.8% 28.5%

9 mos. 2000 vs.
9 mos. 2000 9 mos. 1999
---------- ----------
Room Nights Sold 1,368,427 331%

Net Unique Offers 1,326,353 190%
Offers Booked 620,515 375%
Bind Rate 46.8%

bind rate = offers booked/net unique offers

Hotel product was launched on October 28, 1998

priceline.com Inc.
----------------------------------------------------------------------
Rental Cars

1Q99 2Q99 3Q99 4Q99
---------- ---------- ---------- ----------
Days Sold - - - -
Net Unique Offers - - - -
Offers Booked - - - -
Bind Rate - - - -

3Q00 vs.
1Q00 2Q00 3Q00 3Q99
----------- ----------- ----------- -----------
Days Sold 229,998 429,622 579,866 -

Net Unique Offers 90,639 175,878 217,760 -
Offers Booked 37,706 70,351 107,058 -
Bind Rate 41.6% 40.0% 49.2%

9 mos. 2000 vs.
9 mos. 1999 9 mos. 2000 9 mos. 1999
----------- ----------- -------------
Days Sold - 1,239,486 -

Net Unique Offers - 484,277 -
Offers Booked - 215,115 -
Bind Rate - 44.4%

bind rate = offers booked/net unique offers

Rental Car product was launched on February 3, 2000

priceline.com Inc.
----------------------------------------------------------------------
Offer and Customer Activity

Unique Offers: 1Q99 2Q99 3Q99 4Q99
-------------- ----------- ----------- ----------- -----------
New Customer
Offers 500,156 748,454 908,201 892,029
Repeat Customer Offers 150,305 258,702 408,393 475,699
Total Unique Offers 650,461 1,007,156 1,316,594 1,367,728

Repeat customer offers/ 23.1% 25.7% 31.0% 34.8%
total unique offers

Customers
New Customers 500,156 748,454 908,201 892,029

Cumulative Customers 1,203,988 1,952,442 2,860,643 3,752,672


Unique Offers: 1Q00 2Q00 3Q00
------------ ----------- ------------
New Customer Offers 1,504,685 1,509,416 1,344,025
Repeat Customer Offers 833,388 964,350 1,417,840
Total Unique Offers 2,338,073 2,473,766 2,761,865

Repeat customer offers/ 35.6% 39.0% 51.3%
total unique offers

Customers
New Customers 1,504,685 1,509,416 1,344,025

Cumulative Customers 5,257,357 6,766,773 8,110,798

3Q00 9 mos. 2000
vs. vs.
Unique Offers: 3Q99 9 mos. 1999 9 mos. 2000 9 mos. 1999
----------- ----------- ------------ -----------
New Customer Offers 48% 2,156,811 4,358,126 102%
Repeat Customer Offers 247% 817,400 3,215,578 293%
Total Unique Offers 110% 2,974,211 7,573,704 155%

Repeat customer offers/
total unique offers
Customers
New Customers 48% 2,156,811 4,358,126 102%

Cumulative Customers 184%




CONTACT: Priceline.com, Norwalk
Brian Ek, 203-299-8167, ([e-mail])
Mike Darcy, 203-299-8168, ([e-mail])


Quote for referenced ticker symbols: PCLN

© 2000, Business Wire

[J3142]

PRICELINE COM INC (NASDAQ-NM:PCLN)


Analyst
Opinions
Strong Buy
2
Buy
4
Hold
15
Sell
1
Strong Sell
0

Average
Recommendation
This Week
2.7

Earnings Per Share
Last Quarter
N/A
Surprise
0.00
Percent
0.00%


Consensus EPS
This Year`s
-0.07
Next Year`s
0.17