Bidz.com expects to top Q4 and fiscal 2007 revenue predictions
Online jewelry auctioneer Bidz.com Inc. expects both fourth quarter and 2007 revenue and pre-tax income to exceed its current guidance range. Q4 guidance is $56 million to $58 million and the pre-tax income projection is $5.6 million to $6 million.
Bidz.com, No. 86 in the Internet Retailer Top 500 Guide, also expects to top its fiscal 2007 revenue range of $180 million to $182 million and pre-tax income of $18 million to $18.5 million.
In November Bidz.com reported net income of $9.9 million on sales of $123.9 million for the first nine months of fiscal 2007, compared with net income of $4.4 million on sales of $94.2 million a year earlier.
“We have continued to achieve significant sales gains with increased profitability despite a difficult economic environment,” says David Zinberg, CEO. “Based on our strong finish to the year and our key performance indicators, we are confident that our momentum will continue in 2008.”
The company also reaffirmed its guidance for 2008, expecting revenue to be in the range of $225 million to $230 million and pre-tax income approximately $23.5 million to $25.5 million.
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