In its second-largest acquisition, Amazon buys the company for $970 million.
Q2 web sales rose to $5.6 million in fiscal 2008, from $4.5 million in the prior year quarter.
Dreams Inc., operator of FansEdge.com, ProSportsMemorabilia.com and other niche e-commerce sites, is reporting a 24.4% increase in web sales for the second quarter of the 2008 fiscal year.
Q2 e-commerce sales rose to $5.6 million from $4.5 million in the prior year. Across all operations, Dreams posted a net loss of $784,000 on revenue of $12.5 million vs. a loss of $302,000 on revenue of $8.5 million in Q2 of fiscal 2007.
For the first six months of the 2008 fiscal year, Dreams, No. 289 in the Internet Retailer Top 500 Guide, posted e-commerce revenue of $10.2 million, an increase of 34% from web sales of $7.6 million in the prior year.
Dreams, which also manufactures and distributes sports memorabilia products and display cases, continues to make acquisitions. In September, the company purchased all rights, title and interests in the Chicago Sun-Times Collectibles Show from Sportsnews Productions Inc. for an undisclosed price.