Bloomberg

Shares of Overstock (OSTK - Get Report) were falling Monday after the discount e-tailer missed fourth-quarter expectations on both the top and bottom lines.

The stock was falling 11.01% to $18.19 a share in premarket trading. 

The loss in the quarter was $1.39 a share, or $42.3 million, wider than Wall Street's expectations of a loss of 84 cents. The result was a marked improvement over 2017's fourth quarter, which saw a net loss of $3.72 a share. Revenue was $452.5 million, missing analysts' estimates of $474.1 million. Revenue a year earlier was $456.3 million. Orders, the company said, declined 4% year over year. 

Founder and CEO Patrick M. Byrne said losses in the e-commerce business "were nauseating and we reverted back to the philosophy of profitability on which we built Overstock." Therefore, "in 2019 Retail will return to profitability, generating a positive operating cash flow ≥ [greater than] $10M," he said.

As for the company's blockchain business, Byrne said, "Our blockchain projects are some of the most significant and cutting edge in the world, and we are just reaching the point where our products are being introduced to the public.

The stock had risen 44.6% year to date, before the open Monday.