Boston, MA 03/07/2014 (wallstreetpr) – Lightinthebox Holding Co Ltd (ADR) (NYSE:LITB) which is a leading online retail company that deals directly with consumers posted its fourth quarter and full year earnings in which revenues grew by 21.6% as the company continues to grow in the highly competitive market.
Lightinthebox continues to build a global cross-border ecommerce platform aimed at meeting the needs of consumers across the globe. The company expects to perform even better in the current fiscal year with revenues expected to grow by highs of 6%-9%
Fourth quarter and Full year earnings
Revenue
Lightinthebox revenue for the fourth quarter surged to highs of $78.8 million an increase of $21.6 million compared to F2012, also growing by 46.2% for the full year to highs of $292.4 million. Growth in the apparel category of the company was the reason behind the experienced growth with mobile commerce business also picking up.
Lightinthebox total orders for the quarter grew to highs of 2 million an increase of 61.5% with the total number of customers placing purchases also growing to 1.6 million.
Gross profit
Lightinthebox gross profit for the fourth quarter came in at $30.8 million an increase of 12.3% against $27.4 million reported in the same quarter a year earlier. Gross profit for the full year also grew by 52.2% clocking in highs of $83.5 million
Operating expenses
Lightinthebox operating expenses for the fourth quarter surged to highs of $36.9 million an increase of 43.9% from a low of $25.7 million reported in the fourth quarter of 2012. Fulfillment expenses for the quarter also surged to highs of $3.2 million for the quarter mainly as a result of increase in sales volume for the quarter. Selling and marketing expenses were also up by 59% coming in at 24.7 million against $15.5 million reported in the fourth quarter of F2012.
Lightinthebox cash and cash equivalent stood at $105.1 million compared to $21.2 million as of December 31, 2012.
Lightinthebox Holding Co Ltd (ADR) (NYSE:LITB) was up in Thursday trading session closing at highs of $9.19 after moving up by $9.19
