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Overstock.com's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Slide five, gross profit growth, same basic story, on slide its only better it’s up to 9%. Slide six, I’ve said in the past 12%, 12.5% on our contribution, is seems to be in a sweet spot for us. Remember, we calculate this differently than some business -- well, we calculate margins different than some online businesses, but at the end of the day, it all comes out in the wash when you look at the contribution dollars. And we think we’re right in the sweet spot there. We have opportunities to increase that. We actually are attending to pass them on more to our consumers than we are trying to make them stick to our [rates].

Slide seven, this is what I like seeing contribution back up at 14% growth rate, which is the general industry growth rate. So I am very pleased with this. This is what we managed all of our -- everything above this line really gets managed and optimize this line and I also believe you will see this accelerate nicely. Everything stays on course.

Slide eight, operating expenses. I think this is a new slide in this format. And it’s useful to look at this at the blue and green segments together. Red is marketing, but the blue and green gives you our tech and G&A and you can see we have, thanks to great management and my colleagues, manage that, kept that –well gotten that, tightened up a notch and but we feel very good, we are a not skimpy anywhere in fact I think we have a better innovative cycle that we’ve never had before. So this is good management led especially by Mr. Chesnut, who is hawkish on our expenses.

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