Enable Holdings, formerly known as uBid.com Holdings, announced earnings for the period ended September 30, 2008. Net revenues decreased from $9.720 million in the third quarter of 2007 to $8.917 million in the third quarter of 2008. The company reported a net loss for the quarter of $ 4.685 million, compared to a net loss of $2.193 million in the third quarter of 2007. Total Gross Merchandise Sales declined from $23.7 million in Q3-2007 to $17.4 million in Q3-2008. Total auction success rate increased from 10.9% to 25.7%. Gross Merchandise Sales for the uBid Certified Merchant (UCM) program (third-party sellers) decreased from $14.4 million in Q3-2007 to $9.7 million in Q3-2008. The number of approved UCM vendors increased from 3,321 in Q3-2007 to 3,948 in Q3-2008.
By Ina Steiner