November 10, 2010, 2:04 PM

ThinkGeek’s third quarter web sales climbed 50%

The online gadget retailer also reports a 68% increase in web orders over Q3 2009.

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Geeknet Inc. reported strong third quarter sales—and a nice uptick in the number of web orders.

For the quarter ended Sept. 30, Geeknet, which owns and operates online gadget retailer ThinkGeek.com, No. 232 in the Internet Retailer Top 500 Guide, reported:

  • E-commerce revenue was $10.6 million, a 49.3% increase from $7.1 million in the third quarter of 2009.
  • Web orders shipped increased by 68% to 184,888 from 110,149.
  • Total sales were $14.7 million, up by 36.1% compared with $10.8 million in Q3 2009.
  • Net loss was $3.9 million compared with a net loss of $4.5 million.

Internet Retailer calculates that the web made up 72% of total revenue in the third quarter of 2010, compared with 66% in the same period last year.

“ThinkGeek had another great quarter,” says Ken Langone, executive chairman, Geeknet. “We are excited about the new products we have to offer the ThinkGeek community for the upcoming holiday season and look forward to driving continued success in the business.”

For the first three quarters of 2010, Geeknet reported:

  • Web sales of $31.6 million, up by 49.8% from $21.1 million in the prior year period.
  • Web orders shipped increased by 56.3% to 548,268 from 350,711.
  • Total sales of $44.7 million, a 35.9% increase year over year from $32.9 million.
  • Net loss was $9.2 million compared to $15.5 million through nine months in 2009.

Internet Retailer calculates that the web made up 71% of total revenue in the first three quarters of 2010, compared with 64% in the same period last year.

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