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Overstock.com posts higher revenue, 2012 profit

Published January 24, 2013 8:30 am

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Overstock.com Inc. has reported a jump in revenue and a profit of $14.7 million for its 2012 fiscal year.

A year ago, the company reported a loss of $19.4 million.

The Salt Lake City-based online discount retailer said its revenue for the year was $1.10 billion, up 4 percent from its 2011 fiscal year.

The company said sales growth primarily was tied to an increase in the average order size, which offset fewer orders as a lower number of customers visited its website.

For its recently completed fourth quarter, Overstock posted net income of $8.8 million, compared with a loss of $12.2 million in the same period a year ago.

Revenue for the fourth quarter rose 9 percent, to $342 million, compared with $314 million a year earlier.