Buy.com racks up record net earnings in Q2, the company reports
Online retailer Buy.com earned a record net income of $1.01 million in Q2 vs. a loss of $3.11 million a year ago, the company reported today. Q2 income was 41% higher than Q1’s net income of $722,000, the company says.
“With the help of operational efficiencies, we are pleased to report our third straight profitable quarter," says Neel Grover, CEO and president. "Through improved shopping enhancements, our customers realize there is a great alternative to Amazon.com."
Buy.com, No. 38 in the Internet Retailer Top 500 Guide, reports it now recognizes net revenue rather than gross merchandise sales and will not report net revenue figures. It reports its gross margin on a net revenue basis is 83%.
Aliso Viejo, CA-based Buy.com offers 2 million products in consumer electronics, computer hardware and software, cell phones, books, music, videos, games, digital music downloads, toys, bags, home and outdoor, baby and sporting goods. It reports that it has 10 million customer accounts.
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