Overstock.com loses $787K in 3Q, halving year-ago loss and matching analyst expectations
Associated Press
11/03/09 7:45 PM EST
SALT LAKE CITY — Overstock.com Inc. said on Tuesday that it lost $787,000 in the third quarter, about half the size of its loss during the same period a year earlier.
The online retailer's loss worked out to 3 cents per share for the quarter ended Sept. 30, versus a loss of $1.6 million, or 7 cents per share, a year earlier.
Revenue rose 4.4 percent to $195.1 million, from $186.9 million a year earlier.
Analysts surveyed by Thomson Reuters were expecting a loss of 3 cents per share.
The company recognized $117,000 in recoveries from partners and a freight carrier for charges from 2008.
Overstock shares had risen 89 cents, or 6.5 percent, to close at $14.53 before the announcement. They rose another 32 cents, or 2.2 percent, to $14.85 in late trading.
