Overstock.Com Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 24, 2013 at 09:12 am EST
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Overstock.com Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, total net revenue was $342,034,000 against $314,077,000 a year ago. Operating income was $7,892,000 against operating loss of $2,188,000 a year ago. Income before income taxes was $9,090,000 against loss before income taxes of $3,349,000 a year ago. Net income attributable to common shares was $8,787,000 or $0.37 per basic and diluted share against net loss attributable to common shares of $3,409,000 or $0.15 per basic and diluted share a year ago.
For the full year, total net revenue was $1,099,289,000 against $1,054,277,000 a year ago. The growth in net revenue was primarily due to an increase in the average order size, which more than offset fewer customer orders due to lower conversion rates compared to last year. Operating income was $12,161,000 against operating loss of $17,534,000 a year ago. Income before income taxes was $15,154,000 against loss before income taxes of $19,580,000 a year ago. Net income attributable to common shares was $14,669,000 or $0.62 per diluted share against net loss attributable to common shares of $19,450,000 or $0.84 per basic and diluted share a year ago. Net cash provided by operating activities was $28,145,000 against $25,663,000 a year ago. Purchases of intangible assets were $6,000 against $4,000 a year ago.
Beyond, Inc. is an e-commerce company. The Company owns Overstock, Bed Bath & Beyond, Baby & Beyond, Zulily, and other related brands and associated intellectual property. Its suite of online shopping brands feature various products. Bed Bath & Beyond is an online furniture and home furnishings retailer in the United States and Canada. Its e-commerce Website sells a range of home products, including furniture, bedding and bath, patio and outdoor, area rugs, tabletop and cookware, decor, storage and organization, small appliances, home improvement, and more. It offers additional products or services, including Business Advertising Opportunities, Marketplace Services, International Sales Support, and Supplier Oasis Integration. Its Supplier Oasis platform is a singular integration point that enables its partners to manage their products, inventory, and sales channels. It also facilitates international sales for customers outside the United States through third-party logistics providers.