Overstock.com reported on Wednesday its quarterly financial results for the first quarter ending March 31, 2007. Total revenue was $157.9 million, down 11 percent from the same period in 2006. Gross profits were $25.3 million, up 7 percent from the same period in 2006. Overstock said auction gross merchandise volume (GMV) was $4,695,000 for the first quarter of 2007 compared to $8,079,000 for the same period in 2006, a decline of 42 percent.

The average registrant acquisition cost for auctions was $0.35 for the quarter compared to $2.94 in the same period last year. Average customer acquisition cost for shopping was $24.58 for the quarter compared to $19.49 for the same period last year.

The company also announced it had completed the sale of its wholly owned subsidiary OTravel.com and has integrated Carfax Vehicle History Reports into its newly developed Cars Program (http://cars.overstock.com). The Carfax reports are available for free to anyone shopping for a used car on the site. Overstock.com will also identify automobiles that have only had one previous owner with a one-owner icon.

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