<PAGE>
EXHIBIT 99.4
OUTPOST.COM, INC.
INDEX TO PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
Page No.
----------
<S> <C>
Pro Forma Consolidated Financial Information.................................................. 21
Pro Forma Consolidated Balance Sheet, at August 31, 2000 (Unaudited).......................... 22
Pro Forma Consolidated Statement of Operations, for the Year Ended February 29, 2000
(Unaudited).................................................................................. 23
Pro Forma Consolidated Statement of Operations, for the Six Months Ended August 31, 2000
(Unaudited).................................................................................. 24
Notes to Pro Forma Consolidated Financial Statements (Unaudited).............................. 25
</TABLE>
20
<PAGE>
PRO FORMA CONSOLIDATED FINANCIAL INFORMATION
On September 8, 2000, Cyberian Outpost, Inc. completed its acquisition of
CMPExpress.com, Inc. pursuant to the terms and conditions of Agreement and Plan
of Reorganization dated September 6, 2000, by and among Outpost, Sydney
Acquisition Sub, Inc., a Delaware corporation, CMPExpress, a Pennsylvania
Corporation, and the stockholders of CMPExpress. CMPExpress is an Internet
retailer that sells computers and technology products to medium and large
businesses, both over the Internet and directly through its sales team. Outpost
intends to operate the business of CMPExpress under the name "OutpostPro."
Effective as of September 8, 2000, Acquisition Sub merged with and into
CMPExpress, with CMPExpress surviving the merger as a wholly-owned subsidiary of
Outpost. Each share of CMPExpress common stock was converted into a right to
receive .137267926 shares of Outpost common stock and each share of CMPExpress
Series A stock was converted into a right to receive .324638095 shares of
Outpost common stock. As a result of the acquisition, Outpost issued
approximately 3.09 million shares of its common stock, valued at approximately
$11.8 million based on the average closing price of Outpost's common stock over
the 20 trading days prior to September 8, 2000. Outpost also issued
approximately 47,000 shares of its common stock to the finder who facilitated
the transaction.
The unaudited pro forma financial information is based on the historical
consolidated financial statements of Outpost.com and CMPExpress under the
assumptions and adjustments set forth in the accompanying Notes to the Pro Forma
Consolidated Financial Statements (Unaudited). The pro forma financial
statements do not give effect to anticipated cost savings, if any, in connection
with the acquisition unless there are specifically identifiable expense
reductions that result from the purchase agreements that set forth the
Acquisition. The following unaudited Pro Forma Statements of Operations for the
year ended February 29, 2000 and for the six months ended August 31, 2000, give
effect to the acquisition as if it had occurred on March 1, 1999. The following
unaudited Pro Forma Balance Sheet at August 31, 2000 give effect to the
acquisition as if it had occurred on August 31, 2000.
The information shown below should be read in conjunction with the
consolidated historical financial statements of Outpost.com and the historical
financial statements of CMPExpress, including the respective notes thereto. The
unaudited pro forma data is presented for comparative purposes only and is not
necessarily indicative of the combined financial position or results of
operations which would have been realized had the Aquisition been consummated
during the period or as of the date for which the unaudited pro forma data is
presented. The unaudited pro forma information is also not indicative of future
results of operations or financial position. The pro forma information presented
is as of August 31, 2000, for the year ended February 29, 2000 and for the six
months ended August 31, 2000.
21
<PAGE>
OUTPOST.COM
PRO FORMA CONSOLIDATED BALANCE SHEET
AUGUST 31, 2000
(IN THOUSANDS)
(UNAUDITED)
<TABLE>
<CAPTION>
HISTORICAL HISTORICAL PRO FORMA PRO FORMA
OUTPOST.COM CMPEXPRESS ADJUSTMENTS REF. AS ADJUSTED
----------- ---------- ----------- ---- -----------
<S> <C> <C> <C> <C> <C>
Assets
Current Assets:
Cash and cash equivalents.......................... $ 24,579 $ 385 $ -- $ 24,964
Short term investments............................. 12,000 -- -- 12,000
Accounts receivable, net........................... 11,002 5,558 -- 16,560
Inventories........................................ 15,515 -- -- 15,515
Other current assets............................... 1,225 247 -- 1,472
-------- ------- ------- --------
Total current assets............................ 64,321 6,190 -- 70,511
Property and equipment, net.......................... 14,078 843 -- 14,921
Other assets......................................... 861 52 -- 913
Goodwill............................................. -- -- 15,547 (1) 15,547
-------- ------- ------- --------
Total assets.................................... $ 79,260 $ 7,085 $15,547 $101,892
======== ======= ======= ========
Liabilities and Stockholders' Equity
Current Liabilities:
Current portion of capital lease obligations....... $ 655 $ -- $ -- $ 655
Accounts payable................................... 25,730 6,033 -- 31,763
Accrued expenses................................... 3,676 513 1,000 (2) 5,189
Line of credit..................................... -- 1,554 -- 1,554
Notes payable...................................... -- 930 -- 930
Refunds due to customers........................... -- 467 -- 467
-------- ------- ------- --------
Total current liabilities....................... 30,061 9,497 1,000 40,558
Capital lease obligations, excluding current portion. 422 106 -- 528
Other liabilities.................................... -- 1,029 (1,000) (3) 29
-------- ------- ------- --------
Total liabilities............................... 30,483 10,632 -- 41,115
Minority interest.................................... 2,965 -- -- 2,965
Stockholders' equity:
Redeemable preferred stock......................... -- 3,140 (3,140) (4) --
Common stock....................................... 285 8 112 (4) 405
Additional paid-in capital......................... 129,197 708 11,172 (4) 141,077
Accumulated deficit................................ (83,670) (7,403) 7,403 (4) (83,670)
-------- ------- ------- --------
Total stockholders' equity...................... 45,812 (3,547) 15,547 57,812
-------- ------- ------- --------
Total liabilities and stockholders' equity...... $ 79,260 $ 7,085 $15,547 $101,892
======== ======= ======= ========
</TABLE>
See accompanying notes to pro forma consolidated financial statements.
22
<PAGE>
OUTPOST.COM
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED)
<TABLE>
<CAPTION>
HISTORICAL HISTORICAL
OUTPOST.COM CMPEXPRESS
YEAR ENDED YEAR ENDED
FEBRUARY 29, DECEMBER 31, PRO FORMA PRO FORMA
2000 1999 ADJUSTMENTS REF. AS ADJUSTED
---- ---- ----------- ---- -----------
<S> <C> <C> <C> <C> <C>
Net sales............................................ $188,605 $42,836 $ -- $231,441
Cost of sales........................................ 166,847 39,329 -- 206,176
-------- ------- ------- --------
Gross profit....................................... 21,758 3,507 -- 25,265
Operating expenses:
Sales and marketing................................ 41,667 2,702 -- 44,369
General and administrative......................... 10,809 2,742 -- 13,551
Technology and development......................... 7,001 -- -- 7,001
Amortization of intangibles........................ -- -- 2,221 (5) 2,221
-------- ------- ------- --------
Total operating expenses........................ 59,477 5,444 2,221 67,142
-------- ------- ------- --------
Operating loss..................................... (37,719) (1,937) (2,221) (41,877)
Other income, net.................................... 2,103 46 -- 2,149
-------- ------- ------- --------
Net loss........................................... $(35,616) $(1,891) $(2,221) $(39,728)
======== ======= ======= ========
Basic and diluted net loss per share................. $ (1.52) $ -- $ (1.50)
======== ======= ========
Weighted average basic and diluted shares
outstanding......................................... 23,382 3,140 (6) 26,522
======== ======= ========
</TABLE>
See accompanying notes to pro forma consolidated financial statements.
23
<PAGE>
OUTPOST.COM
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS
SIX MONTHS ENDED AUGUST 31, 2000
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED)
<TABLE>
<CAPTION>
HISTORICAL HISTORICAL PRO FORMA PRO FORMA
OUTPOST.COM CMPEXPRESS ADJUSTMENTS REF. AS ADJUSTED
----------- ---------- ----------- ---- -----------
<S> <C> <C> <C> <C> <C>
Net sales............................................ $137,085 $30,579 $ -- $167,664
Cost of sales........................................ 118,376 27,903 -- 146,279
-------- ------- ------- --------
Gross profit....................................... 18,709 2,676 -- 21,385
Operating expenses:
Sales and marketing................................ 21,827 2,482 -- 24,309
General and administrative......................... 5,893 2,779 -- 8,672
Technology and development......................... 5,943 -- -- 5,943
Amortization of intangibles........................ -- -- 1,110 (5) 1,110
-------- ------- ------- --------
Total operating expenses........................ 33,663 5,261 1,110 40,034
-------- ------- ------- --------
Operating loss..................................... (14,954) (2,585) (1,110) (18,649)
Other income/expense, net............................ 1,178 (1,799) -- (621)
-------- ------- ------- --------
Net loss before minority interest.................. (13,776) (4,384) (1,110) (19,270)
Minority interest.................................... (256) -- -- (256)
-------- ------- ------- --------
Net loss........................................... $(14,032) $(4,384) $(1,110) $(19,526)
======== ======= ======= ========
Basic and diluted net loss per share................. $ (0.50) $ -- $ (0.62)
======== ======= ========
Weighted average basic and diluted shares
outstanding......................................... 28,248 3,140 (6) 31,388
======== ======= ========
</TABLE>
See accompanying notes to pro forma consolidated financial statements.
24
<PAGE>
Notes to Pro Forma Consolidated Financial Statements
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<CAPTION>
AUGUST 31,
ADJUSTMENTS 2000
----------- ----
BALANCE SHEET
<S> <C>
Goodwill:
---------
(1) To record goodwill at the date of acquisition based on fair market value of common stock
issued and the net value of the assets acquired and liabilities assumed of CMPExpress at the
date of the transaction. $15,547
=======
Accrued Expenses:
-----------------
(2) To record an estimate of severance and duplicate facility closing costs related to the
acquisition. $ 1,000
=======
Other Liabilities:
------------------
(3) To record the removal of a convertible note which was converted to CMPExpress preferred
stock and then converted to Outpost common stock in connection with the acquisition. $(1,000)
=======
Stockholders' Equity:
---------------------
(4) To record the change in the equity accounts as a result of the acquisition: $15,547
=======
Redeemable preferred stock $(3,140)
Common stock 112
Additional paid-in capital 11,172
Accumulated deficit 7,403
-------
Net change in stockholders' equity $15,547
=======
</TABLE>
25
<PAGE>
Notes to Pro Forma Consolidated Financial Statements -- (Continued)
Adjustments
-----------
<TABLE>
<CAPTION>
SIX MONTHS
YEAR ENDED ENDED
DECEMBER 31, AUGUST 31,
1999 2000
---- ----
INCOME STATEMENT
<S> <C> <C>
Goodwill:
---------
(5) To record the amortization of goodwill. Goodwill is being amortized over a
period of seven years. $ 2,221 $ 1,110
======= =======
Weighted Average Basic and Diluted Shares Outstanding:
------------------------------------------------------ 3,140 3,140
(6) To record the number of common shares issued in the purchase of ======= =======
CMPExpress.com, Inc.
</TABLE>
26
