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Alloy Online edges past 2Q forecasts

Alloy Online Inc. (Nasdaq: ALOY) lost a little less in the second quarter than analysts forecast.

In fiscal second quarter results released after market close Wednesday, the online retailer of goods for children and teens posted a net loss of $3.1 million, or 23 cents a share. First Call's survey of three analysts predicted a loss of 24 cents a share for the quarter ended July 31.

Second quarter sales rose 83 percent to $3.8 million from $2.1 million in the year ago period, when Alloy lost $2.2 million. Revenue increased 49 percent from $2.5 million in the first quarter. Gross margins were 53 percent in the second quarter.

"We believe that this broad-based strength reflects the success of our operating model, which will help enable us to leverage the Alloy brand into multiple high-growth distribution channels and high-margin revenue sources," said Matthew Diamond, chairman and CEO.

The company had 850,000 registered online users at the end of July, compared to 570,000 in April. Alloy saw 415,000 visitors in July, a 58 percent gain compared to three months earlier.

Shares of Alloy rose 11/16 to 13 7/16 in regular trading ahead of the quarterly report. The stock was recently upgraded by Volpe Brown Whelan.>