Aliso Viejo-based Buy.com Inc., which nixed a public offering bid late last year, said it turned a profit in the fourth quarter, thanks to an investment sale.
Buy.com, which sells videos, CDs and electronics online, said Thursday it saw fourth-quarter net income of $7.7 million, versus a loss of $1.4 million a year earlier.
The profit includes a $12.2 million gain from the sale of an investment. Buy.com didn’t say what the figure would have been without the sale.
For the year, Buy.com lost $800,000, down from $15.4 million in red ink for 2004.
Sales for the quarter were $111.6 million, up 27% from a year earlier. For the year, sales grew 19% to $345.6 million.
Buy.com postponed an initial public offering in December after failing to attract enough investors, likely because of a lack of profits.
It was to be Buy.com’s second shot at the public markets. Buy.com went public in a big offering in 2000, but was taken private by founder Scott Blum a year later.
