Overstock.com has posted a profit of $470,000, or 2 cents per share, for the second quarter of its 2012 fiscal year.
The online discount retailer’s second quarter profit represented a vast improvement over the same period a year ago when it reported a loss of $7.8 million, or 34 cents per share.
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Second quarter revenue was $239.5 million, a 2 percent increase over the second quarter of 2011 when revenue came in at $235 million.
Overstock’s CEO Patrick Byrne, in a statement announcing the second quarter results, said the growth in revenue was primarily due to an increase in average order size and a higher number of visitors to the company’s website.
Those two factors more than offset fewer orders compared with last year and lower conversion rates, which measures the number of visitors to the company’s website who order products.
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