AG Interactive, the e-commerce and mobile commerce arm of American Greetings Corp., increased Q3 web sales by 7% while e-commerce sales for the first nine months of the company’s current fiscal year dropped by 2.5%.
For Q3, AG Interactive, No. 132 in the Internet Retailer Top 500 Guide to Retail Web Sites, posted net income of $2.2 million on revenue of $21.6 million vs. net income of $1.45 million on revenue of $20.3 million in the prior year.
For the first nine months of the current fiscal year, the unit had net income of $5.5 million on sales of $125.5 million, compared with net income of $2.3 million for the first three quarters of the prior fiscal year. For 2006, AG Interactive changed its fiscal year-end from Dec. 31 to Feb. 28/29. As a result, the nine months ended November 25, 2005, included eleven months of AG Interactive’s operations.
At the end of the third quarter of 2007, AG Interactive had approximately 3.4 million online paid subscribers versus 2.4 million at the prior year quarter end.