The Knot Inc. reports a web sales increase of 50% in the first quarter of 2007 to $4.6 million, compared to $3.1 million for Q1 2006. The web-only wedding specialty retailer’s online revenue accounted for 22% of total sales for the quarter ended March 31, 2007. Q1 2006 web sales amounted to 21% of all revenue, by comparison.
In addition to online sales of wedding products including gowns, cake toppers and attendant gifts, The Knot’s revenue comes from three other sources: the sale of online sponsorship and advertising programs, commissions earned in connection with the sale of gift registry products and from its magazines. The Knot is No. 343 in the Internet Retailer Top 500 Guide.
Total Q1 net revenue rose about 42% to $21 million, from $14.8 million in the first quarter of 2006.
National and local online sponsorship and advertising sales were $3.5 million and $7.3 million, respectively, for the three months ended March 31, 2007, compared to $2.7 million and $5.1 million for the same period in 2006.
Registry services sales, which are derived largely from former competitor the WeddingChannel that was acquired in September 2006, amounted to $1.8 million in Q1. Publishing and other revenue increased to $3.9 million for the quarter.
Income before income taxes rose to $2.8 million in Q1 2007, compared to $1.8 million a year ago.
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