Salt Lake City – Overstock.com reported substantial increases in net income during the full year and fourth quarter 2013. During the full fiscal year, net income jumped 503% to $88.5 million from $14.7 million the prior fiscal year.
During the fourth quarter, net income rose an ever larger 737% to $73.6 million from $8.8 million. Revenue increased 19% during the full fiscal year to $1.3 billion from $1.09 billion, and grew 16% to $397.6 million from $342 million during the fourth quarter.
The growth in full year net revenue was primarily due to an increase of 17% in average order size, from $135 to $158, coupled with a 2% increase in orders. The growth in fourth quarter net revenue was primarily due to an increase of 13% in average order size, from $132 to $149, coupled with a 3% increase in orders. The increases in average order size are largely due to a sales mix shift into home and garden products.