Overstock ended the year on a high note, posting net income and sales gains in the fourth quarter and fiscal year.
For the fourth quarter ended December 31, Overstock.com posted company net income of $3.1 million, or 12 cents per diluted share, versus $110,000, or zero cents per share, in the year-prior quarter.
Earnings per diluted share beat an analyst average estimate published by MarketBeat, which envisioned a four cent loss.
Total revenue was $526.2 million versus $480.3 million in the year-previous quarter. Operating loss was $342,000, as sales and marketing, and technology costs increased year over year, versus an operating loss of $3.1 million in the 2015 quarter.
Revenue growth primarily arose from a 12% increase in average order size partially offset by increased promotional activity costs.
For the full fiscal year, Overstock posted company net income of $12.5 million, or 49 cents per diluted share, versus $2.4 million, or 10 cents per share, in the year prior. Total revenue was $1.8 billion versus $1.66 billion in the fiscal year previous. Operating income was $6.9 million versus an operating loss of $534,000 in 2015.
