The office supplies retailer say it sacrificed some sales to improve online profitability. It also redesigned its business-facing e-commerce site, StaplesAdvantage.com.
Reliant Interactive Media Corp., which sells computers, consumer electronics and other products via the web and infomercials, reported second quarter sales of $35.4 million, 88% higher than the $18.8 million in the second quarter of 2000.
Reliant Interactive Media Corp., which sells computers, consumer electronics and other products via the web (www.rimc.com and www.asseenontvpc.com) and infomercials, today reported second quarter sales of $35.4 million, 88% higher than the $18.8 million in the second quarter of 2000. The company also expects net income before taxes of $924,000 for the quarter, vs. $272,000 for the same quarter last year. Included in the expenses for the quarter was a one-time charge in connection with the opening of the company`s first international office in London.
"In light of the tough economy we are extremely pleased with our results this quarter,” said Kevin Harrington, chairman and CEO. “Historically in our industry the second quarter of the year is one of the slowest periods, yet we were able to achieve a substantial increase from the second quarter of last year, as well as see our sales grow by 25% from the first quarter of this year. We look forward to a continued growth in our business, and I believe that we are on course to topping last year`s record sales."
Reliant Interactive Media was founded in 1984. Current management took over in late 1998 and launched operations in early 1999.