The Knot ties on a good second quarter
Web sales for The Knot Inc. grew impressively in the second quarter and for the first half of the year.
For the second quarter, online sales rose by 35.4% to $6.5 million from $4.8 million in Q2 2006 and by 40.5% to $11.1 million for the period of January through June from $7.9 million in the prior year.
Overall The Knot, No. 343 in the Internet Retailer Top 500 Guide, posted net income of $4.4 million on revenue of $28.5 million for the second quarter and net income of $6.4 million on sales of $49.5 million for January through June.
"Our second quarter results demonstrate the resilience of our business model; however, 2007 remains a challenging year and there is still room for significant improvement across all our business units," says CEO David Liu. “Our challenge remains to extend our multi-media platform across multiple life stage brands.”
The Knot continues to diversify. In June The Knot combined e-commerce and social networking with the launch of its newest web site: TheNestBaby.com. TheNestBaby.com features niche communities and editorial areas devoted to infertility, adoption, twins, and other topics. The site also features family pages for posting photo galleries, e-mail-based questions and answers with health providers such as pediatricians or fertility specialists, and a baby naming blog.
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