Overstock.com 2008 Annual Report Download - page 51
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Table of Contents
Results of Operations
The following table sets forth our results of operations expressed as a percentage of total revenue for 2006, 2007 and 2008:
Years ended December 31,
2006 2007 2008
(as a percentage of total revenue)
Revenue
Direct revenue 38.6% 25.7% 20.9%
Fulfillment partner revenue 61.4 74.3 79.1
Total revenue 100.0 100.0 100.0
Cost of goods sold
Direct 36.5 21.9 18.5
Fulfillment partner 52.0 61.8 64.4
Total cost of goods sold 88.5 83.7 82.9
Gross profit 11.5 16.3 17.1
Operating expenses:
Sales and marketing 9.1 7.2 6.9
Technology 8.4 7.8 6.9
General and administrative 6.0 5.5 4.6
Restructuring 0.7 1.6 0.0
Total operating expenses 24.2 22.1 18.4
Operating loss (12.7) (5.8) (1.3)
Interest income, net 0.5 0.6 0.4
Interest expense (0.6) (0.6) (0.4)
Other (expense) income, net 0.0 (0.0)(0.2)
Loss from continuing operations (12.8)% (5.8)% (1.5)%
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