The company said it broke even last year on revenues of more than $20 million, and expects to reach profitability soon.

Management has been opening new stores that reach profitability quickly, he added.

His immediate goal now is to reach profitability, something that may not be so far off.

But the question is whether, given its enormous costs, it can ever reach profitability.

He even suggested at the time that the magazine would reach profitability in three years.

"It takes time to buy market share and reach profitability."

The mantra now is: reach profitability soon - by the end of 2002, if not before.

Few, if any, of the New York companies have reached profitability in 18 months.

The company began operations in 1998 and reached profitability two years later.

Adams predicted the firm would reach profitability by the beginning of 2013.