E-commerce revenue shines for Dreams in Q2

Web sales for Dreams Inc., which owns and operates retail site FansEdge.com and other niche sites, grew robustly in the second quarter.

For the second quarter ended June 30, Dreams, No. 198 in the Internet Retailer Top 500 Guide, recorded:

• Web sales increased about 39% to $9.30 million from $6.69 million in the second quarter of 2009.
• Total sales increased about 18% to $14.4 million from $12.2 million in the second quarter of 2009.
• Manufacturing revenue decreased 6.2% to $1.81 million from $1.93 million in the prior year.
• Retail revenue increased 22.5% to $12.45 million from $10.16 million in the prior year.
• Net loss was $1.17 million compared with a net loss of $1.07 million in the second quarter of 2009.

“Our business is cyclical and the second calendar quarter is typically the weakest quarter in our industry,” says CEO Ross Tannenbaum. “Our historical business model generates a greater portion of our annual revenues and profits in the holiday quarter.”

Based on Internet Retailer calculations, the web accounted for 64.6% of all revenue compared with 54.8% in the prior year.

For the first six months of the year:

• Web sales increased 37.2% to $20.3 million from $14.8 million in the period January through June of 2009.
• Total sales increased about 14.3% to $30.9 million from $27.03 million.
• Manufacturing revenue decreased 14.5% to $4.66 million from $5.45 million in the prior year.
• Retail revenue increased 21.4% to $25.96 million from $21.39 million in the prior year.
• Net loss was $2.04 compared with a net loss of $2.06 million in the period January through June of 2009.

Based on Internet Retailer calculations, the web accounted for 65.7% of all revenue compared with 54.8% in the prior year.