GSI Commerce’s Q2 revenue grows 28% over year-ago Q2
Second quarter revenue at GSI Commerce Inc. increased 28% to $64.7 million from $50.3 million a year ago, the company reported today. Net loss amounted to $3.1 million, an improvement of $631,000 from last year’s Q2.
Net merchandise sales rose 63% to $89.6 million, up 63% from $54.8 million for the second quarter of 2003. Net merchandise sales represent the retail value of all sales transactions, including shipping charges and net of returns and discounts, which flow through the GSI Commerce platform, whether or not the company is the seller of the merchandise.
Sales of sporting goods—GSI’s original focus—accounted for $33.6 million of sales, up 24% from $27 million a year ago. Net revenues from product sales in other merchandise categories were $19.5 million, up 4% from $18.7 million for the second quarter of 2003.
The company said that it launched the Treo 600 smartphone from palmOne on the GSI Commerce platform a month later than planned which, together with a backlog for the product line, harmed product revenues in the other merchandise sales category.
Service fee revenues increased 150% to $11.6 million in Q2 compared to $4.6 million in Q2 a year ago.
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