Short Take: Onsale reports record Q4 revenue

Online auction pioneer posted fourth-quarter financial results that saw gross merchandise sales for the quarter reach a record $41.1 million, up 27 percent from the third quarter. Revenue for the quarter was $33 million, a 31 percent increase over the previous quarter, while net loss was $1.7 million, or 9 cents per share, compared with a net loss of $583,000, or 3 cents per share, during the third quarter. Onsale's gross merchandise sales for the year were $115.9 million, a 277 percent increase over a year ago.