8/08/06

Q2 revenue soars 194% at tiny Abelauctions.com

Revenue at Ableauctions.com rose 194% to $1.8 million in the second quarter, primarily due to an increase in liquidation services, the company reported today.

Paul Demery , Managing Editor, B2B E-commerce

Revenue at Ableauctions.com Inc. rose 194% to $1.8 million in the second quarter ended June 30 from $613,849 a year earlier, primarily due to an increase in revenue from the company’s liquidation services, the company says.

Q2 revenue from the company’s online auction business rose almost 30% from the previous quarter and more than 70% from the same period in 2005. However, net income dropped 17% to $39,770 from $47,801 in 2005’s second quarter.

The number of live auction sessions increased almost 66% from the previous quarter, and more than 75% from the year-earlier quarter. The company’s database of registered bidders for live auctions grew 18% and its client base grew 5% during the quarter.

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