First quarter sales at online photo-processing retailer myPhotopipe.com Inc. rose 26% to $366,329 compared to $289,869 in the first quarter of 2007. MyPhotopipe says a site redesign helped it boost revenue and capture new customers.
Katie Evans , Managing Editor, International Research
First quarter sales at online photo-processing retailer myPhotopipe.com Inc. rose 26% to $366,329 compared to $289,869 in the first quarter of 2007. MyPhotopipe says a site redesign helped it boost revenue and capture new customers, but adds the costs associated with the re-launch led to a higher than anticipated loss for the first quarter.
Gross profits for the e-retailer increased 42% to $270,373 compared to $189,864 in Q1 of 2007. Net loss was $73,705 compared to a net loss of $15,753 a year earlier.
"MyPhotopipe.com continued to post excellent gains in revenues during the most recent quarter," says L. Douglas Keeney, myPhotopipe CEO. "That said, a significant design initiative related to the overhaul of our web site made unexpectedly good progress in January, and we elected to accelerate its launch, which in turn necessitated a concurrent increase in our search engine buys. Accordingly, we realized a slightly higher loss for the period than we anticipated, but we have been extremely pleased with the initial results from the new web site, as measured in a sharp increase in customer acquisitions, excellent industry notices, and continued revenue growth during April."
The e-retailer also added several new products in the first quarter. Keeney says myPhotopipe increased its greeting card SKUs by several hundred and added to its photo-mounting selection.