BabyUniverse grows web sales 55% in Q3
BabyUniverse Inc. is reporting net income of $102,964 on revenue of $8.9 million for the third quarter, compared with a net loss of $125,275 on revenue of $5.7 million for Q3 2005.
"The third quarter of 2006 was extremely productive for the company as we achieved success with three significant shareholder value initiatives,” says John Textor, chairman and CEO of BabyUniverse, No. 235 in the Internet Retailer Top 500 Guide to Retail Web Sites.
Net sales for the first nine months of 2006 totaled $26.9 million, compared to net sales of $15.5 million for Q3 2005, an increase of 73%. Net loss for the first nine months of 2006 was $1,299,043 vs. a net loss of $544,549 for the period of January through September in 2005. "As we began to feel comfortable with our improved e-commerce operations, we invested heavy amounts of financial and human capital into our exciting opportunities in content and new media,” says Textor. “While we continue to believe that e-commerce is an attractive and growing opportunity, we believe strongly that our most obvious path to increased shareholder value in this market comes through the build-up of a definable’ audience.”
In October BabyUniverse, an online retailer with several retail and content sites catering to the needs of parents, entered the Internet TV space with BabyTV.com—a site due for launch later this year and designed for both social networking and e-commerce.
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