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As of 10:50 AM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

overstock.com inc (OSTK) Key Developments

The Overstock.com, Inc. Announces Management Changes

The Overstock.com Inc. board of directors appointed Kirthi Kalyanam, Ph.D., as a member of the board with his term beginning on February 5, 2015 and running through the company's annual meeting of stockholders in 2016. Dr. Kalyanam is currently the J.C. Penney research professor and director of the Retail Management Institute at the Leavey School of Business at Santa Clara University. He has served as faculty director of the Executive MBA program, a visiting professor at the Graduate School of Business at Stanford University, a guest faculty in the Stanford Executive MMP program, and senior vice president and chief marketing officer of SpinCircuit Inc. In addition to appointing a new board member, the company has named Carter Lee senior vice president of technology, where he will oversee the strategic direction and operational effectiveness of the technical teams. In his previous role as vice president, Lee managed the technology for many of Overstock.com's critical systems and website as well as projects relating to the company's facilities. Lee has been with the company for 14 years and replaces outgoing senior vice president of technology, Bhargav Shah. Saum Noursalehi will transition from senior vice president of marketing to senior vice president of product development, where he will be responsible for the management of customer, partner and internal facing systems. Overstock.com president Stormy Simon will handle marketing operations.

Overstock.com Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Overstock.com Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total net revenue of $470,360,000 against $397,593,000 a year ago. Operating income was $1,708,000 against $1,527,000 a year ago. Net income before income taxes was $2,273,000 against $967,000 a year ago. Net income was $1,358,000 or $0.06 per diluted share against $69,450,000 $2.84 per diluted share a year ago. For the fiscal 2013, the company reported total net revenue of $1,497,103,000 against $1,304,217,000 a year ago. Operating income was $11,923,000 against $16,565,000 a year ago. Net income before income taxes was $13,205,000 against $16,344,000 a year ago. Net income was $8,801,000 or $0.36 per diluted share against $84,378,000 $3.47 per diluted share a year ago. Net cash provided by operating activities was $80,834,000 against $83,645,000 a year ago. Expenditures for fixed assets, including internal-use were $41,346,000 against $18,067,000 a year ago. Purchases of intangible assets were $135,000 against $13,000 a year ago.

Overstock.com Inc. to Report Q4, 2014 Results on Jan 29, 2015

Overstock.com Inc. announced that they will report Q4, 2014 results at 11:30 AM, US Eastern Standard Time on Jan 29, 2015

Overstock.com Inc., Q4 2014 Earnings Call, Jan 29, 2015

Overstock.com Inc., Q4 2014 Earnings Call, Jan 29, 2015

Overstock.com Inc. to Appeal Patent Infringement Case

Overstock.com Inc. announced it would appeal the $4 million verdict rendered January 16, 2015 in a patent infringement case in Marshall, Texas. Without prior notice, the plaintiff, Droplets, filed its case in 2011, and at trial alleged damages of $12.2 million against Overstock.com for infringement of three related patents, the first of which was filed in 2000, and issued in 2004. Overstock denied infringement, contested the validity of the patents and the high damage figure Droplets demanded. At trial, Overstock.com showed that Droplets created a product intended to address an internet speed problem. But as the internet evolved, other technologies resolved the speed problem and Droplets then, in Overstock.com's view, turned from product production to litigation as a business model.

 

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