Overstock.com posts higher revenue, 2012 profit
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.