Shares of online technical and professional bookseller Fatbrain.com (Nasdaq: FATB) were down 2-11/16 to 33-1/16 in early trading today one day after the company reported third-quarter results that were in line with analysts’ expectations.
The company reported record online sales of $8.2 million in the third quarter, an increase of more than 280 percent over the third quarter of last year. The company also generated $1.8 million in sales from offline sales at retail stores, trade shows and bookstores. Fatbrain’s net loss rose to $9.1 million or 80 cents per share, compared to 38 cents in the same quarter last year. Today’s decline aside, Fatbrain has been on a strong run in recent weeks, and a recent influx of capital from Paul Allen’s Vulcan Ventures should help it expand its eMatter secure digital publishing solution.