Seattle FilmWorks (Nasdaq: FOTO) piggy-backed up 32 percent on a deal with Amazon.com whereby Amazon's auctions customers will use FilmWorks' PhotoWorks storage site to upload and post their digital images.
Shares were up 1 3/16 to 4 15/16, still below the company's 52-week high of 6 7/16. Amazon shares were down 5/16 to 61 15/16.
The agreement will give Amazon.com a direct link to their photo archives at Seattle FilmWorks. Amazon announced it would branch into auctions last March, boosting shares.
"Our agreement with Amazon.com Auctions is another example of our leadership in scanned digital imaging and our effort to extend the reach and benefits of being a Seattle FilmWorks customer," said Gary Christophersen, Seattle FilmWorks President and CEO in a company release.
With more than 45 million images scanned, PhotoWorks is one of the largest consumer photo storage sites on the Web. The PhotoWorks service includes free scanning of every photograph, Web posting to a private site and lifetime archiving, as long as the consumer remains a customer of Seattle FilmWorks.
The company announced in July that its third quarter loss was 25 cents a share. The sole broker covering the company rates it a "moderate buy" according to Zacks Investment Research.