August 29, 2005, 12:00 AM

BabyUniverse Q2 sales are up 91% over year ago

Second quarter sales at online retailer BabyUniverse Inc. grew 91% from Q2 a year ago, reaching $5.3 million from $2.8 million, the company reports. Net loss in the second quarter was $322,153 versus a net loss of $72,391 in the prior year.

 

Second quarter sales at online retailer BabyUniverse Inc. grew 91% from Q2 a year ago, reaching $5.3 million from $2.8 million, the company reports. Net loss in the second quarter was $322,153 versus a net loss of $72,391 in the prior year.

First half sales were up 67% over a year ago, reaching $9.8 million from $5.9 million. First half net loss was $419,274 vs. net income of $46,960 a year earlier.

BabyUniverse went public Aug. 8 with a sale of 2 million shares at $9.50 per share.

"We are extremely pleased with our second quarter results, which are in line with our strategy to increase revenues at an accelerated, yet responsible pace," said John Textor, chairman and CEO. "Our continuing goal is to expand awareness of the BabyUniverse brand, increase sales and gain market share as rapidly as possible while generating either relatively small amounts of income or relatively small losses. During the second half of 2005, we expect the combination of our organic growth and our acquisition growth strategies to begin to generate improved profitability."

The company reports that Q2 sales growth exceeded the growth rates of recent quarters. “This sales growth was primarily driven by increased spending on advertising that included a five-month brand-building coupon promotion that ended during the second quarter,” Textor said. “We also increased our level of expenditures on various search-related online-marketing programs. These specific programs have been successful as post-promotion sales volumes have remained strong. We expect to report organic revenue growth of approximately 50% for our full year 2005 as compared to 2004."

BabyUniverse offers 33,500 baby, toddler and maternity products from over 450 manufacturers. It sells at BabyUniverse.com.

 

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