Tuesday, July 31, 2007

Overstock.com Reports Results

Salt Lake City, Utah-based Overstock.com announced its second quarter 2007 financial results this morning, saying that the firm had revenues of $149M in Q2, and a net loss of $13.8M. Revenues were down 6% year to year, however the firm reported an increase in gross profits and gross margin. Results were helped by positive operating cash flow and gross margins of 17.7%, which the company said was a historical best. Overstock operates an online ecommerce site focused on selling closeout and overstock merchandise.