GNX posts 42% growth in Q4 net income
GlobalNetXchange, the online trading and services exchange for retailers, posted its first quarterly positive cash flow for the fourth quarter ended Dec. 31 along with a 42% year-to-year increase in net revenue, the company said. It reported strong growth across all product lines.
GNX, which doesn’t report complete revenue figures, said its across-the-board Q4 growth included a 60% year-over-year increase to $8 billion in the value of transactions conducted through GNX Negotiations, reflecting more than 12,000 buy-sell negotiations. It also said GNX customers conducted 3,200 online auctions in Q4 for a total value of more than $3 billion. Since GNX launched in February 2000, its customers have conducted nearly 22,000 auctions valued at more than $15 billion, GNX said.
At the end of 2003, GNX was hosting 42 live CPFR sessions on its web-based collaboration platform, representing an 87% increase over 2002, GNX said.
It said that 2,300 products have been developed on the web-based GNX Product Development platform, and that a grocery retailer it declined to name is using the platform to develop private label products with 800 suppliers. It added that 9,000 products are in the development stage through the collaborative platform.
In addition, GNX recently launched the web-based GNX Performance Management platform, which three global retailers are using to gauge the performance of about 80 suppliers. “Our customers needed a retail-specific performance management solution, but nothing existed in the market that met these specific needs, so we worked closely with the user community to build the software ourselves,” said CEO Joe Laughlin.
GNX has more than 30 retail and manufacturing clients, including Kmart Corp., Sears, Roebuck and Co., The Kroger Co. and Ace Hardware Corp.
Back...
