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Wednesday, November 4, 2009 |
Q3 web sales grow 32% for Vitacost.com
Vitacost.com Inc. turned in a pretty good top-line performance in its first quarter as a public company, but costs related to the initial public offering also resulted in a higher net loss.
Vitacost.com, which began trading on the NASDAQ Global Market in September, reported for the third quarter:
- Sales increased 31.9% to $48.4 million from $36.7 million in the prior year.
- Net loss was $3.8 million compared with a net loss of $143,767 in the third quarter of 2008. One-time costs of non-cash stock-based compensation associated with the public offering accounted for the loss, says Vitacost, No. 114 in the Internet Retailer Top 500 Guide.
- Marketing expenses increased year over year 19.4% to $3.7 million from $3.1 million.
- Fulfillment expenses increased year over year 9.5% to $2.3 million from $2.1 million.
"Our business is well-positioned for long-term profitable growth and margin expansion even as we continue to invest in our information technology and marketing strategies,” says CEO Ira Kerker. “Customer acquisition cost was $12.68 for the quarter and we expect our active customer base of over one million customers to continue growing.”
For the first three quarters, Vitacost.com reported:
- Sales increased 34.3% to $141.5 million from $105.4 million in the prior year.
- Net income was $3.3 million compared with $570,839 in the previous year period.
Vitacost.com, an online retailer of vitamins and related products, went public on Sept. 24.
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