AG Interactive rings up FY 2006 web sales of $90 million

AG Interactive, the e-commerce and mobile commerce arm of American Greetings Corp., used a pair of acquisitions and a change in accounting to help grow fiscal year 2006 web sales by 55.2%.

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For FY 2006, AG Interactive, No. 132 in the Internet Retailer Top 500 Guide to Retail Web Sites, registered web sales of $89.6 million compared with $57.6 million in FY 2005. At the same time total sales remained flat. Revenue totaled $1.885 billion in fiscal year 2006 compared with $1.883 billion in FY 2005. Earnings for AG Interactive grew to $4.2 million in fiscal 2006 from a loss of $1 million the previous fiscal year.

While AG Interactive earned $7 million in new subscriber revenue in FY 2006 and grew its total paid subscriber base to 2.6 million from 2.2 million in 2005, the 2006 web revenue also included $11 million in sales from MIDIRingTones LLC and K-Mobile S.A., a pair of newly acquired companies, and a change in accounting. For fiscal 2006, AG Interactive changed its fiscal year-end from Dec. 31 to Feb. 28. As a result, the final 2006 results include 14 months of AG Interactive`s operations.

Bryan T. Biniak, senior vice president at AG Interactive, will speak at the Internet Retailer 2006 Conference & Exhibition in a session titled Wireless Web: Cashing In When the Buying Impulse Strikes.