That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
Revenue for the first nine months was up 12% to $224.6 million. Digital River projects full-year revenue of $348 million, which would be a 13% increase over last year.
E-commerce technology provider Digital River Inc. has reported third quarter revenue growth of 10% to $82.5 million from $75.3 million in the same quarter last year. For the first nine months of the year, revenue was up 12% to $252.4 million from $224.6 million last year.
Q3 net income was $15.3 million, up 3% from $14.8 million in the year-ago quarter. For the first three quarters, net income totaled $50.5 million, up 13.5% from $44.5 million.
The company is projecting full-year 2007 revenue of $348 million, which would represent an increase of 13.1% from $307.6 million in 2006.
“Overall we are pleased with our third quarter financial performance,” says Joel Ronning, CEO. “Our business continues to be fueled by growth in international markets, and our software and shareware businesses. In addition, we continue to sign key clients in the consumer electronics and game markets, where our expertise in managing global commerce and e-marketing services continues to drive wins with industry leaders.”
Among the deals Digital River announced recently was one to manage and host a European e-commerce site for Canadian software firm ACD Systems and an agreement to develop and host e-commerce operations in Japan for U.S. software publisher Mindjet.
Minneapolis-based Digital River builds and manages online businesses for more than 40,000 software publishers, consumer technology manufacturers, distributors, online retailers and affiliates.