To: Malko who wrote (127 ) 12/3/1998 7:13:00 AM From: ztect Respond to
Bid.com has 1000% increase in revenues from previous fiscal yearsedar.com [w.emphasis] revenue for Bid.Com International Inc., one of North America's leading online auctions, increased 12.5% to $6.3 million from $5.6 million in the second quarter of the year. Revenue for the nine months was $13.7 million, up from $1.2 million in the same period in 1997, an increase of more than 1000%. Gross profit for the quarter increased more than 250% by $0.2 million to 3.2% of sales in the third quarter, up from $51,000, or 0.9% of sales in the second quarter. Gross profit for the nine months was $0.3 million, an increase of more than 200% compared with the 1997 period. The company fully believes that the trend in margin improvement is sustainable now that it has achieved critical mass and is able to manage balanced growth in revenues and margins. reduce our primary operating expense of advertising and promotion, both in gross dollar terms and as a percent of sales, from 61% to 53% of sales. Other operating expenses held constant at 26% of sales. Significant reductions in expenses will occur going forward as we start driving the business to positive cashflow rather than building revenues at the expense of profits.$13 million in gross proceeds to Bid.Com. The net effect is an increase in current assets from $2.6 million to $11.4 million, and an improvement in the company's working capital position by $7.7 million from the previous quarter. "NEWS" 11,412,790 .. ..'97 .1,034,994 BIG NEWS quote.yahoo.com geocities.com bid.com sedar.com
