Bidz.com reaffirms guidance, reports strong holiday weekend sales
Shares of Bidz.com (Nasdaq: BIDZ) are treading lower in pre-market trading despite the online auctioneer of jewelry’s reaffirmation of financial guidance and strong holiday sales report.
The Culver City, Calif.-based company reaffirmed its guidance provided on Nov. 12, for the fourth quarter, fiscal 2007 and fiscal 2008.
For the fourth quarter ending Dec. 31, Bidz expects revenue to be in the range of $56 million to $58 million. Three analysts polled by Thomson are on average forecasting revenues of $57.44 million.
For 2007, the company expects revenue in the range of $180 million to $182 million and gross margin of approximately 27% to 28%. Three analysts polled by Thomson are on average anticipating revenues of $181.34 million.
For 2008, Bidz expects revenues to be in the range of $225 million to $230 million and gross margin of approximately 27% to 28%. Bidz said it anticipates fully taxed GAAP EPS of $0.47 to $0.51. Three analysts polled by Thomson are on average projecting revenues of $229.66 million.
The small cap also noted that sales during the Thanksgiving holiday weekend, from Friday through Sunday were up 78% over last year.
News didn’t stop the bearish sentiment pervading the broader market. Shares of Bidz.com (BIDZ) trailed 1.27%, or $0.21, to $16.35 in pre-market trading. Shares of Bidz.com have been trading in the range of $4.90 to $22.50 for the past 52 weeks.
