ALISO VIEJO, Calif., Oct. 23, 2007 (PRIME NEWSWIRE) -- Buy.com(r), the Internet Superstore(tm), today reported net income in the third quarter of 2007 of $411,000 (excluding $95,000 of stock-based compensation), marking a company record of four consecutive quarters of profitability. These third quarter results are a significant increase from the loss of $5.6 million in the third quarter of 2006.
For the nine months ending September 30, 2007, Buy.com reported total sales (based on gross merchandise value) of more than $300,000,000 and net income of $2,148,000 (excluding $401,000 of stock-based compensation).
"Just as Buy.com has begun celebrating its 10-year anniversary, these earnings cap one of our most successful 12-month runs in company history," said Neel Grover, CEO and president of Buy.com. "Over the past year, we have made numerous enhancements to the site, striving to be the first and final place consumers look to do their shopping."
About Buy.com
Buy.com is a leading e-commerce company with more than 10 million customer accounts, focused on providing its customers with a rewarding shopping experience and a broad selection of high-quality technology and entertainment retail goods at competitive prices. Buy.com offers millions of products in a range of categories, including consumer electronics, computer hardware and software, cell phones, books, music, videos, games, digital music downloads, toys, bags, home and outdoor, baby, jewelry and sporting goods. Founded in June of 1997, Buy.com is located in Aliso Viejo, California. Buy.com(r) and The Internet Superstore(tm) are trademarks of Buy.com Inc. Buy.com currently competes with a variety of companies that can be divided into two broad categories: (i) retailers and ecommerce marketplaces such as Amazon.com, eBay and Wal-Mart and (ii) specialty retailers or manufacturers such as Barnes & Noble, Best Buy, Circuit City and Dell.