CommerceHub Reports Record Results for the Year Ended December 31, 2003
Market Wire, 20050229
CommerceHub, the leader in drop-ship
commerce for multi-channel merchants and suppliers, today announced record
results for the year ended December 31, 2003.
During 2003, CommerceHub exceeded sales and profitability expectations as
network transactions grew by an impressive 75% to a record of more than
5,600,000 orders representing gross merchandise sales of roughly $500
million. Bolstering this growth were the additions of several of the
world’s leading merchants, including ShopNBC, to its rapidly growing
network of integrated clients which includes QVC, Target, Sears, Staples
and Costco. CommerceHub’s network of integrated clients is approaching
1,000 organizations representing nearly 1,000,000 unique SKUs.
By selecting the CommerceHub solutions, merchants, through a single
connection to CommerceHub, are able to tap into a diverse network of
suppliers and easily expand their product offerings and grow revenues, all
with no inventory risk. CommerceHub’s suppliers are
electronically exposed
to the world’s leading merchants and are able to easily grow their channel
breadth, thereby increasing revenues.
In addition to the outstanding operational results, the company
strengthened its executive management team by adding previously announced
key executives from General Electric and MapInfo. As the company enters
its next phase, one of rapid growth, the key additions made in 2003 will
enable the organization to continue to meet and exceed the expectations of
its clients.
“The excellent results marked the culmination of another very successful
year for us,” said Frank Poore, President and CEO of CommerceHub. “The
Year 2003 was the third straight year of dramatic increase in our
business.”
Since 2000, CommerceHub has experienced an average annual revenue growth
rate of over 150% per year and now has two consecutive years of
profitability and cash flow generation.
“Our outstanding team and their achievements have positioned us as the
leader
in our market. We plan to sustain this momentum in 2004 and leverage
the growing acceptance of our solution as a way for merchants and suppliers
to increase revenues, decrease operating costs and increase customer
satisfaction,” Poore added.
About CommerceHub
CommerceHub is the leading provider of e-Commerce solutions that enable
drop-ship supplier integration for world-class multi-channel merchants.
CommerceHub Drop-Ship Master is the first comprehensive drop-ship solution
that allows merchants to seamlessly integrate with suppliers, rapidly
expand product offerings, preserve brand identity, and manage, analyze, and
deliver comprehensive order information to their customers, all with no
inventory risk.
World-class merchants and suppliers have chosen CommerceHub to increase
speed to market, grow sales, reduce expenses, and enhance customer service
by improving supply chain performance
dropshipping