SAN DIEGO, Feb. 4 /PRNewswire-FirstCall/ -- BizAuctions, Inc. (Pink Sheets: BZCN - News), a prime provider of commercial eBay liquidation services for excess inventories and overstocks, announced today that its twelve-month revenues ended December 31, 2008 increased approximately 22% over calendar year, 2007.
Delmar Janovec, CEO remarks, "BizAuctions revenues increased to approximately $3,396,294 (unaudited) for the twelve months ending December 31, 2008, representing an increase of approximately $624,903 or 22% increase over the same twelve-month period for 2007."
"We feel that year-over-year revenue growth of 22% for the twelve months is significant even in a good economy, so we are very optimistic about the 22% year-over-year revenue increase, in this challenging environment," Janovec added.
Management is pleased with the growth of the Company, and is dedicated to building a major operation that will have a significant and positive impact on corporate America. Although the Company has not achieved profitability, on a constant month-over-month basis, the increase in revenues demonstrates the overall growth the Company has shown since its inception. With the excess inventory market near $60 billion, BizAuctions is targeting an enormous market and business opportunity while helping companies solve one of their greatest problems.
The Company's clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay.
More information is available at www.BizAuctions.com. Investors and media can receive a free investor kit for BizAuctions, Inc. by contacting Investor Relations at investors@BizAuctions.com or (800) 961-3275. A virtual tour of BizAuctions' facilities and flash video presentation can be viewed at http://www.bizauctions.com/
ABOUT BIZAUCTIONS - ADDRESSING THE $60 BILLION PROBLEM
BizAuctions, Inc. (Pink Sheets: BZCN - News) is a prime provider of commercial eBay liquidation services for excess inventory, overstock items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries.
BizAuctions addresses the $60 billion excess inventory problem for clients by sending trucks to pick up pallets of excess inventory, selling the inventory on eBay, and collecting payment.
We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space.
With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate its excess inventory on eBay.
The Company encourages the public to read the above information in conjunction with its year-end statement for December 31, 2007, and the quarterly statements filed in calendar year 2008, at www.PinkSheets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.
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