Friday, April 28, 2006

Overstock.com Reports Results

Salt Lake City, Utah-based Overstock.com reported its first quarter results yesterday, saying that the firm lost $15.9M on revenues of $180.2M for the quarter. Overstock.com said that its revenues were up 9 percent versus the similar period last year, but that it was also expecting a disappointing Q2. In a letter to shareholders, CEO Patrick Byrne said that the firm saw slow growth during the first half of the year, but that he anticipates that things will look better in Q3. Overstock.com is an online retailer of discounted products.