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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WonderkarpAndrew Yoon Died http://www.gamerevolution.com/news/rip-andrew-yoon-3096901/31/2015 - 10:26pm
Matthew Wilson@ea so much happened this week its not funny. fcc broadband, Nintendo, sega, and sevral other big stories. was not a slow week lol01/31/2015 - 8:50pm
Andrew EisenWasn't on the list but we can certainly talk about it.01/31/2015 - 8:45pm
Matthew WilsonI know its not directly related to games, but are you going to tak about the fcc raising the definition of broadband to 25/3?01/31/2015 - 8:33pm
Wonderkarpwell we had to christen it some way01/31/2015 - 7:13pm
Andrew EisenThank goodness the Shout box now goes back 100 shouts, eh folks?01/31/2015 - 7:10pm
Wonderkarpyouve said youre stuff. I gave you a point on one thing.01/31/2015 - 7:04pm
Andrew EisenNo, they're facts. Not beliefs. Not opinions. Facts. Do I need to list them all for you again? I'm happy to oblige.01/31/2015 - 7:02pm
Andrew EisenAnd I have seen no evidence (and would find it very hard to believe) that her fans and funders, even the most radical, would be the ones perpetuating that nonsense.01/31/2015 - 7:01pm
Wonderkarpabout as right as Glenn Beck is about the gays, man. Its all your beliefs and opinions.01/31/2015 - 7:01pm
Andrew EisenI didn't say you did. And this talking head is still right about everything he's said so far.01/31/2015 - 6:58pm
Andrew EisenAlso, considering the number of non profits that merchandise, I'm going to guess you're wrong on that one too but I don't really know as it's not my area of expertise.01/31/2015 - 6:58pm
WonderkarpYou can keep saying that all you want. Its just a talking head, man. there's all the proof in the pudding. I never said she was trying to take away games, or get rid of male protagonists, or any of the BS thats perpetraited by her more radicalfans/funders01/31/2015 - 6:56pm
Andrew EisenNo, as I've spelled out throughout this discussion, you're wrong.01/31/2015 - 6:53pm
Wonderkarpok. that one I am wrong. I'll give you that one. That was one I didnt research properly. BUT I'm right on the others.01/31/2015 - 6:53pm
Andrew EisenFact: It makes no difference whether she recorded the footage or not. Fact: yes she does have a Section 107 'fair use' disclaimer at the end of every video and in the video description.01/31/2015 - 6:47pm
Wonderkarpsaying otherwise. I've presented a video with cited sources combined with opinion. Youre presenting just your opinion. 01/31/2015 - 6:43pm
Wonderkarpits still important information brought up on the original video. and by not saying anything, the casual observer thinks its her footage. there's no "section 107 Fair use" disclaimer. Its as if she's showing star wars and saying "look what I made" without01/31/2015 - 6:43pm
Andrew EisenIf that's true, maybe she's willing to lose her tax exempt status by merchandising. So? Also not a problem with her Kickstarter. And no, I don't have to be a rep of FemFreq to point out how nonsensical, irrelevant and untrue all this nonsense is.01/31/2015 - 6:43pm
Andrew EisenShe doesn't say it's not her footage and she never said she'd record all her own footage. So this isn't a problem. I doubt she's said anything like "no women or non white people are critics of mine." Regardless, nothing to do with her Kickstarter.01/31/2015 - 6:41pm
 

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