FAIRFAX, Va., Feb. 15, 2011 (GLOBE NEWSWIRE) -- Geeknet, Inc. (Nasdaq:GKNT), the online network for the global geek community, today announced financial results for the quarter and year ended December 31, 2010.
Total revenue for the fourth quarter of 2010 was $50.0 million compared to $32.6 million of revenue for the fourth quarter of 2009. Net income for the fourth quarter of 2010 was $4.7 million or $0.75 per diluted share compared to net income of $1.5 million or $0.25 per share, for the same period a year ago. Adjusted EBITDA for the fourth quarter of 2010 was $5.7 million, compared to adjusted EBITDA of $2.8 million for the same period a year ago. A reconciliation of net income (loss) as reported to adjusted EBITDA is included in this release.
Fourth Quarter Highlights:
- E-commerce revenue increased 60 percent to $44.7 million for the fourth quarter of 2010, compared to $27.9 million for the fourth quarter of 2009. E-commerce orders shipped increased by 72 percent in the fourth quarter of 2010 as compared with the same period last year.
- Media revenue increased 12 percent to $5.3 million for the fourth quarter of 2010, compared to $4.7 million for the fourth quarter of 2009.
- Total cash and investments at the end of the fourth quarter 2010 was $35.3 million.
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