UPDATE: Overstock.com, Inc. (OSTK) Swings to Q4 Loss of 15c/Share
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(Updated - March 2, 2012 8:31 AM EST)
Overstock.com, Inc. (NASDAQ: OSTK) reported Q4 EPS loss of ($0.15), versus analyst estimate of a $0.45 profit. The company posted earnings of 63 cents per share during the same quarter last year. Revenue for the quarter fell 10 percent from last year to $314.1 million versus the consensus estimate of $377.6 million.
Gross margin in the quarter fell 80 basis points to 16.2 percent. Gross profit fell 14 percent to $50.9 million.
Expenses were higher across the board. The company said sales and marketing expense were up 10 percent to $18.9 million and G&A/Technology expense rose 24 percent to $34.1 million.
For the year, revenues fell 3 percent to $1.054 billion and the company posted a loss of $19.4 million versus a profit of $13.9 million last year. EPS was a loss of ($0.84) versus a profit of $0.59 last year.
After being halted for trading ahead of the disappointment, shares of Overstock.com are now down 11 percent
For earnings history and earnings-related data on Overstock.com, Inc. (OSTK) click here.
Overstock.com, Inc. (NASDAQ: OSTK) reported Q4 EPS loss of ($0.15), versus analyst estimate of a $0.45 profit. The company posted earnings of 63 cents per share during the same quarter last year. Revenue for the quarter fell 10 percent from last year to $314.1 million versus the consensus estimate of $377.6 million.
Gross margin in the quarter fell 80 basis points to 16.2 percent. Gross profit fell 14 percent to $50.9 million.
Expenses were higher across the board. The company said sales and marketing expense were up 10 percent to $18.9 million and G&A/Technology expense rose 24 percent to $34.1 million.
For the year, revenues fell 3 percent to $1.054 billion and the company posted a loss of $19.4 million versus a profit of $13.9 million last year. EPS was a loss of ($0.84) versus a profit of $0.59 last year.
After being halted for trading ahead of the disappointment, shares of Overstock.com are now down 11 percent
For earnings history and earnings-related data on Overstock.com, Inc. (OSTK) click here.
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