Internet auction house ONSALE Inc.
reported gross merchandise sales for the quarter ending December 31, 1997
were a record $41.1 million, up 27% from gross merchandise sales of $32.3
million in the third quarter ended September 30, 1997.
Net loss for the quarter was $1.7 million, or $0.09 per share, compared with a
net loss of $583,000, or $0.03 per share, in the third quarter.
For the year, gross merchandise sales were $115.9 million, a 277% increase
over gross merchandise sales of $30.7 million in 1996. Revenues were $89.0
million, compared with revenues of $14.3 million in the prior year.
Net loss for 1997 was $2.5 million, or $0.16 per share, compared with net
income of $361,000, or $0.03 per share, in 1996.
At year end, ONSALE had 418,000 registered bidders, a 30% increase over the
third quarter.
ONSALE operates seven daily auctions each week, and posts tens of thousands of
items in a typical week.