Used Game Specialist Reaps Large Revenues in Q1

May 19, 2010 -

Profits from used games continue to fuel Maryland-based Game Trading Technologies, Inc. (GTTI).

The company, who we took a look at earlier this year, specializes in acquiring and redistributing used games, and also offers technology—billed as a “game trading engine”—which provides real-time, dynamic pricing for used games and consoles. GameStop, Wal-Mart, Best Buy, Blockbuster, 7-Eleven, Toys“R”Us, eBay, and GameFly are among GTTI’s customers.

The company released first quarter results for the three months ending March 31, 2010 and revenue rose to $11.4 million, up 37% from the $8.3 million reported in the same quarter one year earlier. First quarter gross profit was pegged at $1.98 million, also up 37% from the previous year’s $1.44 million.

The company attributed the rise in revenue partly to the launch of a new retail program with 7-11 Stores, in which 3,000 of the convenience stores are now selling used games under the banner “Great Games Under $20.”

“Increased expenses” and a 5,912% increase in “professional fees”, related to the company’s recent private placement and reverse merger transactions, resulted in a net loss in the quarter of $1.85 million, versus net income of $628,000 one year earlier.

While GameStop never offers a look into its used business, GTTI offered the nugget that “Two major customers accounted for a combined $9,884,518 … of revenue for the three months ended March 31.” GameStop is obviously one of the top two accounts, and most likely GTTI’s top customer overall.

The two “major customers” made up a whopping 87% of GTTI's quarterly revenue.


 
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Neo_DrKefkaI'm upset at all parties but a cue to replace one bad apple for another does not solve the problem. Perhaps I expect to much out of #GamerGate because the early streams were about progress & solutions now they are about a persons ego talking about drinkin10/23/2014 - 1:35pm
prh99Honestly I've never liked Gawker, and considering their own behavior the self righteous indignation in the wake of GG rings a bit hollow. If my email causes them to lose money I will not feel even a twinge of guilt.10/23/2014 - 1:00pm
Papa MidnightNeo_DrKefka: Till outlets such as IGN and GameSpot so much as even acknowledge the mere existence of "GamerGate", I highly doubt it will affect their modus operandi anytime in the future - near or otherwise.10/23/2014 - 12:26pm
Neo_DrKefkaWhat GamerGate is essentially doing whether people like it or not its going to change the gamingmedia but inturn its also going to replace some outlets & practice the same wrongs they claim they fought against. Its happening already look at TheRalphRetort10/23/2014 - 12:18pm
Neo_DrKefkaIf a company claims it supports the Klan or another offensive organization than the advertiser needs to make sure they're brand is not tainted so they pull they're ads. One side does not determine the right to determine what is universally offensive.10/23/2014 - 12:14pm
Neo_DrKefkaActions have consequences however. If you do a Bioware and insult EA's customers would you be suprised if they lost advertisers and customers? Advertisers are not giving money to charity to they putting ads to make money.10/23/2014 - 12:13pm
Matthew Wilsonwhile I disagree with people pushing pressure on advertisers, consumers do not have many other options to show there disagreements with a article or writer. if people are going to do it, it should be for somthing much worse then that guy did.10/23/2014 - 12:10pm
Neo_DrKefkaNow they are about KingofPol & InternetAristocrat making streams that are bait and switch Streams that claims they are about GG but are about them getting drunk and them making fun of Autistic people10/23/2014 - 12:09pm
Neo_DrKefkahttp://tinyurl.com/nhlbgq8 These people some of them are using GamerGate to prop there careers up. GamerGate streams used to be about ideas of change and solutions to problems.10/23/2014 - 12:09pm
Neo_DrKefkaI believe the message of #GamerGate but I do not believe in the Cult of Personality that has formed. Where sites like TechRaptor gained exposure and they are a great site. Sites like TheRalphReport are using this movement for there own personal gain.10/23/2014 - 12:05pm
ZippyDSMleeSo has the whole GG thing become toxic to the point its time to move on yet?10/23/2014 - 11:54am
prh99As for GG, I am surprised they haven't pulled out every 4chan spawned mob and script kiddie's favorite tool, LOIC to DDoS their foes. Or maybe they did and I missed it.10/23/2014 - 11:38am
BillIn his article Max says "I've been told that we've lost thousands of dollars already, and could potentially lose thousands more, if not millions."10/23/2014 - 11:25am
BillJames, do you think new advertisers won't bring this up when negotiating Ad rates? From a business standpoint, if I were to advertise on Gawker I would point to this and be pretty firm on lower rates.10/23/2014 - 11:21am
prh99Had my say, what they do after that is their business. Though calling your current advertisers "craven idiots" and "pusillanimous morons" probably isn't all that smart if you are going to complain about lost revenue from pulled ads.10/23/2014 - 11:18am
james_fudgeand when they do they will innoculate themselves from this stuff before the deal is even signed10/23/2014 - 11:02am
james_fudgewhen you do that much traffic you can always replace advertisers, guys10/23/2014 - 11:02am
prh99I helped him out and emailed Gawkers advertisers with the message "This is how Gawker covers you when they disagree with you". Not necessarily as support for GG but he is just down right insulting. 10/23/2014 - 10:48am
BillI think he got rolled twice. They made him mad enough to insult a possible advertiser. Other advertisers are going to notice this. It may be cathartic for him, but it's not good business.10/23/2014 - 9:17am
Billhttp://gawker.com/how-we-got-rolled-by-the-dishonest-fascists-of-gamergat-164949657910/23/2014 - 9:14am
 

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