Bidville reported a first-quarter revenue increase of 377% from the previous quarter, and said there was a 625% increase in the average value of each item sold. The online auction site also reported the total number of new members increased by 241%, and the total number of new sellers increased by 173%. The total number of daily auction listings also increased, and the number of unique daily visitors grew 141% since December 31, 2003.
The recent acquisitions of 3-2-1 Play and Buy Sell Connect occurred only eight days before the end of the first quarter and therefore, consolidated revenue only included eight days of the subsidiaries' revenue for the quarter.
"We are very pleased with the quick consolidation of 3-2-1 Play into the Bidville organization. We have already seen powerful results from the combination of these companies, and believe that our strategy of combining the best of brick-and-mortar operations with the increasing traffic on our internet auction site will lead to strong revenue growth," stated Gerald C. Parker, Chairman of the Board.
"Our recent acquisition of 3-2-1 Play and Buy Sell Connect is expected to continue to generate strong revenues," stated Michael Palandro the CEO of Bidville. "We are very pleased with our improvements in membership and revenue growth. We anticipate continuing to provide solid revenue and membership growth and expect to achieve our short term goal to be recognized as the No. 1 alternative to eBay. We anticipate that the next operating quarter will again generate solid revenue and membership growth commensurate with the Company's operating goals."
