Fatbrain.com, Inc. rose 2 1/4 to 18 in early trading today after the Santa Clara, California-based company reported a smaller-than-expected quarterly loss and a hefty increase in online sales.
Online sales for the fourth quarter ended January 31 rose 193 percent from a year earlier to a record $10.3 million, while overall sales totaled $11.9 million in the quarter, up 122 percent. The online bookstore company reported a net loss of $10 million, or 79 cents a share; analysts were looking for 82 cents. A year earlier, Fatbrain lost $3.4 million, or 37 cents a share.
The company said it added more than 56,000 new customers during the quarter, bringing the total number above 245,000. Online customer accounts grew 29.9 percent, Fatbrain said.
Fatbrain provides businesses with online publishing services, including print-on-demand and custom online bookstore services. The company said it added more than 450 corporate accounts during the fourth quarter.