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Bidz.com notes 12% fall in revenues
Yet ends the quarter without debt
By: Diamond World News Service
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Nov 10 2010 10:12AM
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Reference: 5476  

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Online auction entity Bidz.com has announced its financial results for the quarter ending September 30, 2010. There has been a 12 percent dip in revenue to $21.8 million, and loss has increased from $58,000 to $614,000 (y-o-y), yet the company has maintained a control on certain costs – new buyer acquisition costs dipped by 29 percent to $46. There was also a healthy rise in the business-to-business (B2B) sales from $917,000 to of $1.1 million (y-o-y).

Also, the company has sustained this period without any debt and had around $5.5 million in cash and $26.6 million in positive working capital. The company’s average selling price per order of jewellery increased around 2 percent to $190.

Revenues from various markets: US accounted for 56.7 percent, international markets accounted for 43.3 percent ( was 38 percent in said quarter last year).

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