Amazon.com 4Q earnings up 9%

SEATTLE Amazon.com announced that net sales for its fourth quarter ended Dec. 31, 2008 increased 18% to $6.7 billion in the fourth quarter, compared with $5.67 billion in fourth quarter 2007.

Net income for the quarter increased 9% to $225 million in the fourth quarter, or 52 cents per diluted share, compared with net income of $207 million, or 48 cents per diluted share, in fourth quarter 2007.

“We remain relentlessly focused on serving customers with low prices, great selection and free shipping offers, including Amazon Prime,” said Jeff Bezos, founder and CEO of Amazon.com. “We’re particularly grateful for the unusually strong demand for Kindle in the fourth quarter.”

Net sales for the full year increased 29% to $19.17 billion, or 28% excluding the $127 million favorable impact from year-over-year changes in foreign exchange rates throughout the year, compared with $14.84 billion in 2007.

Net income for the quarter increased 36% to $645 million in 2008, or $1.49 per diluted share, compared with net income of $476 million, or $1.12 per diluted share, in 2007.

Net sales for the first quarter of 2009 are expected to be between $4.525 billion and $4.925 billion, or to grow between 9% and 19% compared with first quarter 2008.