Thursday, November 21, 2013

uSell.com, Inc. (USEL) Q3 Sales Achieve Triple-Digit Growth to Record $1.6M

uSell.com, a reCommerce marketplace that helps individuals turn unused items into cash, reported third-quarter triple-digit revenue growth in its seventh consecutive quarter of increased sales.

For the third quarter of 2013, revenues increased 124 percent to a record $1.6 million, as compared to revenues of $0.7 million in the third quarter of 2012. The company attributes the increase primarily to increased marketing, improved marketing efficiency, and an increase in trading partners.

“These new branding initiatives come at a very opportune time,” USEL CEO Daniel Brauser stated in the news release. “We continue to be excited about our consumer electronics focus as industry drivers and consumer awareness and education are expected to spur continued growth. The market opportunity in cell phones and consumer electronics remains very much untapped. Key drivers over the next few quarters and years should drive awareness and greatly increase the market opportunity for uSell.com.”

Gross profit margin of 94 percent was realized in the third quarter, the seventh consecutive quarter of more than 90 percent gross margins.

The company narrowed its operating loss for the third quarter of 2013 to $0.8 million, as compared to a loss of $2.4 million a year ago.

The company’s net loss increased to $1.0 million (including special items), or a loss per share of $0.01, as compared to a loss of $0.4 million, or a loss of $0.01 per share, in the same quarter of 2012.

For more information visit http://www.uSell.com

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