uBid.com Holdings, Inc., which operates the uBid online auction site, announced results for the second quarter ended June 30, 2006. Highlights for the second quarter of 2006 included:
Gross Merchandise Sales (GMS), a key business metric, were $30.3 million compared to $28.0 million one year ago, a 8.2% increase.
Gross profit of $2.1 million, compared to $2.7 million in the second quarter of fiscal 2005.
Customer orders increased 21% to approximately 125,000 from 103,000 in the second quarter of last year.
uBid.com Certified Merchant Program (UCM) grew participating members by 38% sequentially to 1,307 from 949 merchants reported at March 31, 2006.
Active Auction Participants totaled 335,000, while the number of Auction Events increased 89% to approximately 478,000.
Customer Registrations totaled approximately 38,000 in the second quarter of 2006 compared to approximately 37,000 a year ago.
uBid CEO Robert H. Tomlinson Jr. said, "The second quarter represented another step in the transformation of uBid.com. While our financial performance was similar to first quarter results, we made strides strategically, through partnerships and an asset acquisition in July, 2006. Specifically, we were able to align our business with established entities that share our passion for a secure customer experience. We also grew our Certified Merchant program significantly while cost effectively acquiring 900,000 potential customers via our purchase of certain assets of Bidville. In combination with our recent capital infusion, uBid.com is now far stronger than anytime in recent memory. In fact, we are optimistic that our financial performance in the back half of the year will exceed our first half performance, and over the long run, we'll be able to drive value for shareholders, particularly from these levels."
