Vitacost.com pumps up Q1 sales by 55%
Vitacost.com Inc. is reporting a 55% increase in first quarter sales, according to the company’s recently updated S1 registration.
For the quarter, Vitacost.com, No. 160 in the Internet Retailer Top 500 Guide, is reporting net income of $1.3 million on sales of $22.8 million vs. net income of $28,000 on revenue of $14.7 million for the same quarter in 2006.
Sales of Vitacost.com’s proprietary vitamin and diet supplement products, including NSI-branded products, increased by 69.4% to $8.3 million in Q1 from $4.9 million in Q1 2006. Third-party product revenue also increased by 39.7% to $12.7 million in Q1 2007 from $8.7 million in the prior year. The average order for the first quarter of 2007 was $76.
In the first quarter, Vitacost.com spent $2.5 million, or 11% of revenue, on sales and marketing and $2.56 million, or 11%, on general and administrative expenses. A total of 5% of sales, or $1.1 million, was spent on fulfillment. Vitacost.com filed an updated S1 registration with the Securities and Exchange Commission on Aug. 10. Thomas Weisel Partners LLC, Robert W. Baird & Co. and Cantor Fitzgerald & Co. are acting as underwriters. An S1 is required for companies wishing to sell stock or debt publicly that have not been regularly reporting to the SEC.
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