Overstock.com, Inc. has reported financial results for the quarter and fiscal year ended December 31, 2012. For the quarter, revenues gained and the online retailer posted a profit versus a loss in the period last year.
Revenues came in at $342 million versus $314.1 million in the year-earlier period, Overstock.com reported. Net income was $8.8 million, or 37 cents per share, compared with a loss of $3.4 million, or 15 cents per share, in the year-ago quarter.
For the 2012 fiscal year, Overstock revenues were $1.1 billion versus $1.05 billion in fiscal 2011. Net income was $14.7 million, or 62 cents a share, compared with a loss of 19.4 million, or 84 cents per share, in the year prior.
According to the company, revenue growth through the year resulted primarily from an increase in the average order size, which more than offset fewer customer orders due to lower conversion rates versus fiscal 2011.
Motley Fool analyst Sean Williams noted that share prices spiked after Overstock.com reported its financials. The revenue number, he noted, fell short of the single analyst estimate available, but the earnings per share figure “crushed” the accompanying 27 cents earnings forecast, with gross margin gains, a better product mix and lower warehouse costs contributing to the beat.