PayPal, eBay’s payments arm, says StackMob will help PayPal further its mobile payments capabilities, and PayPal will help StackMob clients better enable payments in ...
Annual web sales sky for GameFly.com
GameFly closed out fiscal 2010 with a solid increase in sales of 19.8%.
Online games rental company GameFly Inc. closed out fiscal 2010 with a solid increase in sales, but also with lower net income, the company reports in new initial public offer documents filed recently with the U.S. Securities & Exchange Commission.
For the 2010 fiscal year ended March 31, GameFly, No. 157 in the Internet Retailer Top 500 Guide, recorded:
- Sales increased 19.8% to $101.46 million from $84.67 million in fiscal 2009.
- Spending on fulfillment grew 10.9% to $9.74 million from $8.78 million in fiscal 2009.
- Expenditures on technology and development rose year over year 13.1% to $7.4 million from $6.54 million.
- Spending on marketing increased 9.1% to $19.1 million from $17.5 million.
- The total number of subscribers increased 28.8% to 422,663 from 328,119.
- Average monthly revenue per subscriber was $19.50 compared with $20.12 in fiscal 2009.
- Net income was $453,000 compared with net income of $4.06 million in fiscal 2009.
In February, GameFly filed for an initial public offering with the SEC. GameFly could raise up to $50 million from the public offering and would use the capital for general business development and potential acquisitions. GameFly has yet to set specific terms or a final date for going public.
For the fourth quarter, GameFly also reported:
- Sales increased 22.7% to $24.60 million from $20.05 million in Q4 of fiscal 2009.
- Spending on fulfillment grew 14.5% to $2.68 million from $2.34 million in Q4 fiscal 2009.
- Expenditures on technology and development rose year over year 13.1% to $1.98 million from $1.75 million.
- Spending on marketing increased 25.6% to $1.96 million from $1.56 million in Q4 fiscal 2009.
- Net loss was $965,000 compared with a net loss of $272,000 in Q4 fiscal 2009.