In its second-largest acquisition, Amazon buys the company for $970 million.
The provider of fulfillment services swings from a year-ago net loss to a net gain.
Increasing demand for its fulfillment and contact center services pushed Innotrac Corp.’s revenue up 23.3% in the second quarter, the company says.
The Atlanta-based company reported for the quarter ended June 30:
● Total revenue of $22.946 million, up 23.3% from $18.614 million a year earlier;
● Operating income of $512,000, compared with a year-earlier operating loss of $768,000;
● Net income of $441,000, compared with a net loss of $816,000 in Q2 of 2011.
For the first half of this year, it reported:
● Total revenue of $47.116 million, up 19.0% year over year from $39.583 million;
● Operating income of $1.01 million, an improvement of more than $2 million from a year-earlier operating loss of $1.25 million.
● Net income of $886,000, compared with a year-earlier net loss of $1.3 million.
CEO Scott Dorfman attributes the improved financial figures to the addition of several new clients and increased business volume with existing clients. Among new clients added in the second quarter is fashion apparel retailer Charlotte Russe, No. 364 in the Internet Retailer 500.
The company’s European arm, Innotrac Europe GmbH, operates fulfillment centers, call centers and returns processing operations in the United Kingdom, Germany, France, Denmark, Sweden, Poland, Austria, Italy, Switzerland, Ireland, Spain and the Netherlands.