May 24, 2005, 12:00 AM

Diamond retailer Abazias.com cuts expenses to move toward profits

Abazias, an online retailer of loose diamonds and jewelry sold at discount prices, cut Q2 expenses to slash its net loss to $27,000 from $790,000 a year ago. Sales fell 22% to $414,000, but gross profit rose 63%.

 

Abazias Inc., an online retailer of loose diamonds and jewelry sold at discount prices, cut second-quarter expenses by 90%, or $740,000, to slash its net loss to $27,000 from $790,000 a year ago. Sales fell 22% to $414,000, but gross profit rose 63%, CEO Oscar Rodriquez said.

The retailer, whose web site is at Abazias.com, said its 90% drop in general and administrative expenses was related to a decrease in expenses in attorney`s fees and other costs related to the sale of company stock. Abazias stock began trading on the OTC Bulletin Board in late 2003. It attributed the decline in sales to a change in staffing, and the increase in gross profit to “more sophisticated levels of margin mix.”

Abazias says it plans to continue seeking outside investment through investment firms including SmallCapVoice.com and Friedland Capital Inc.

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Jochen Moll / B2B E-Commerce

Grasping the global dimensions of B2B e-commerce

To successfully sell online to businesses around the world suppliers must get a lot of ...

FPO

Bart Schaefer / E-Commerce

Applying back-to-school lessons to holiday e-mail strategy

It’s time to begin holiday “drip” campaigns that send a sequence of messages to consumers, ...

Advertisement