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Gross margin up at Bluefly
22 Feb '10
4 min read
Results for the full year of 2009 included the following:
• Net revenue decreased by approximately 15.2% to $81.2 million from $95.8 million in 2008, as a result of the Company's planned decrease in inventory purchases in response to the overall decline in consumer spending.
• Gross margin percentage increased to 38.9% from 37.1% in 2008 as a result of increases in product margin.
• Operating expenses decreased by approximately 26.2% to $34.2 million from $46.3 million in 2008. The reduction in operating expenses resulted from a decrease of $2.9 million in selling and fulfillment expenses, a decrease of $6.1 million in marketing expenses, a reduction in non-cash share-based compensation expense of approximately $1.9 million, a decrease in salary and salary related general and administrative expenses of approximately $230,000 and a decrease in professional fees of approximately $336,000.
• Operating loss decreased by approximately 75.5% to $2.6 million from $10.8 million in 2008.
• Net loss available to common stockholders decreased by approximately 63.9% to $4.4 million from $12.1 million in 2008. Included in net loss is $1.2 million of non-cash expense related to the Company's convertible notes. Loss per share decreased to $0.31 per share (based on 14.0 million weighted average shares outstanding) from $0.90 per share (based on 13.4 million weighted average shares outstanding) in 2008.
• Adjusted EBITDA increased to positive $878,000 from a negative adjusted EBITDA of $5.9 million in 2008.
• Average order size decreased to $266.66 for 2009 compared to $279.72 in 2008.
• Net revenue decreased by approximately 15.2% to $81.2 million from $95.8 million in 2008, as a result of the Company's planned decrease in inventory purchases in response to the overall decline in consumer spending.
• Gross margin percentage increased to 38.9% from 37.1% in 2008 as a result of increases in product margin.
• Operating expenses decreased by approximately 26.2% to $34.2 million from $46.3 million in 2008. The reduction in operating expenses resulted from a decrease of $2.9 million in selling and fulfillment expenses, a decrease of $6.1 million in marketing expenses, a reduction in non-cash share-based compensation expense of approximately $1.9 million, a decrease in salary and salary related general and administrative expenses of approximately $230,000 and a decrease in professional fees of approximately $336,000.
• Operating loss decreased by approximately 75.5% to $2.6 million from $10.8 million in 2008.
• Net loss available to common stockholders decreased by approximately 63.9% to $4.4 million from $12.1 million in 2008. Included in net loss is $1.2 million of non-cash expense related to the Company's convertible notes. Loss per share decreased to $0.31 per share (based on 14.0 million weighted average shares outstanding) from $0.90 per share (based on 13.4 million weighted average shares outstanding) in 2008.
• Adjusted EBITDA increased to positive $878,000 from a negative adjusted EBITDA of $5.9 million in 2008.
• Average order size decreased to $266.66 for 2009 compared to $279.72 in 2008.
Bluefly Inc
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