Egghead Sees More Bidders
"The auction site, of the three [sites] we operate, was the strong focus of our first quarter efforts and it has provided our best growth to date," George Orban, Egghead.com's chairman/CEO, said in a prepared statement.
In the fiscal quarter ending June 27, which marked Surplus Auction's first anniversary, it recorded revenues of $13.7 million, an increase of 95.7 percent over $7 million in the preceding quarter ending March 28. Total auction revenues for the first year of operations were $28,209,000.
The auction site, which began in June 1997 with partial first-month revenues of $170,000, recorded revenues of $2.7 million in its first full fiscal quarter of operations ended Sept. 27. Total registered bidders grew from 29,000 on Sept. 27 to 168,000 by June 27.
Egghead.com, Spokane, WA, closed its 80 retail locations nationwide and devoted itself to Internet commerce in February. The company operates three Internet commerce sites: www.egghead.com, which sells new computer products, and www.surplusdirect.com and www.surplusauction.com, which sell refurbished and surplus computer products. Egghead.com will report its first-quarter earnings on July 28.