Geeknet, the owner of the American technology news accumulation site, Slashdot, has reported a net loss of $US4.4 million for the year 2010.
In 2009, the company recorded a net loss of $US14 million.
Geeknet released
results for the final quarter of 2010 a couple of days ago. Apart from Slashdot, Geeknet also owns SourceForge, ThinkGeek and freshmeat.
The results showed that revenue for the full year increased by 44 percent to $US94.6 million. Most of the increase came from ThinkGeek, a site that sells products that appeal to geeks. ThinkGeek increased its revenue by 55 percent while Geeknet's media revenue went up by 11 percent.
Fourth quarter revenue for 2010 was $US50 million compared to $US32.6 million for the corresponding quarter in 2009. Profit for the quarter was $4.7 million compared to $US1.5 million for the corresponding period in 2009.
"Geeknet closed 2010 with a stellar fourth quarter. ThinkGeek grew revenue by 60 percent and our media business demonstrated early signs of traction with our new strategy as evidence by its solid growth over last year," said Ken Langone, executive chairman, Geeknet.
"Our 44 percent growth in revenue for the full year demonstrates the strength of our community and our marketing efforts. We look forward to continued success in 2011 as we remain focused on growing top line revenue and increasing profitability."
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