Sales up, losses down at Buy.com
Buy.com Inc. ended 2005 heading up, posting a year-over-year sales increase of 27% in the fourth quarter compared with 19% for the entire year.
The company posted $111.6 million in sales for the fourth quarter compared with $88.2 million for the same period the previous year. It earned $7.7 million in 2005 compared with a loss of $1.4 million in Q4 2004. For the year, Buy.com sales reached $345.6 million compared with $290.8 million in 2004. Buy.com’s net loss for 2005 was $800,000, down from a net loss of $15.4 million the previous year.
Earnings for the fourth quarter and the full year included $3.6 million of expenses related to a national advertising campaign the company launched in September and a $12.2 million gain from the sale of an investment.
Buy.com sells more than 2 million technology and entertainment products in a range of categories, including consumer electronics, computer hardware and software, books, videos, games, and digital music downloads. The company is No. 33 in the Internet Retailer Top 400 Guide to Retail Web Sites.
Jared Morgenstern, president of Yub.com, a Buy.com subsidiary that markets a variety of retail products through social networking recommendations, will speak at the Internet Retailer 2006 Conference & Exhibition in an educational session titled Social Networking: The Peer Persuasion Marketing Tool.
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