QualityStocks would like to highlight uSell.com, Inc. (
OTCQB: USEL). The company makes it easy for people to sell their used gadgets, by connecting them with hundreds of professional buyers, so they can get the best offers. uSell lets users sell their old things, so they can use the cash to buy new things, while doing good for the environment.
In the company’s news,
uSell.com 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.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
