Ableauctions.com (AMEX: AAC) shares were up 17 percent, to 22 cents, on volume of 1,633,800 yesterday. The movement follows the company’s news yesterday morning that it will release its second-quarter results for 2007 during the week of August 13, 2007.Ableauctions.com provides online services and technology to auction houses and retailers around the globe. The technology allows for auctioning services from product listing to real-time online auctioning. In the statement, the high-tech liquidator and online auction facilitator said it expects revenues for the second quarter to increase more than 75 percent from the first quarter of the year.
“Revenues from our liquidation operations have fluctuated widely over the course of the year, and will continue to fluctuate based upon seasonality, the inventory available and the timing of orders,” stated Abdul Ladha, president and CEO of Ableauctions.com. “Fundamentally, we expect that revenues for the next two quarters from our liquidation operations will surpass those from the respective periods in the previous year.”
Ableauctions.com also announced its live auction divisions, iCollector and NAALive are expected to report more than 400 auction sessions for the period ended June 30, 2007- a record number of sessions facilitated in a single quarter.
“Our live auction operations are strong and are on course with our growth expectations for the year. We will continue to expand and re-invest into our core business units,” said Ladha.
The company executes its business plans utilizing its subsidiaries: iCollector.com Technologies – dedicated to trading antiques, fine art and collectibles on the Internet; NAALive.com – real-time software allowing auction houses to broadcast their auctions live over the Internet; Unlimited Closeouts Inc. – an online reseller platform that sources and sells inventory in closeouts of general merchandise and discontinued products; and Rapidfusion Technologies Inc. – provider of solutions for software, Internet applications, Web sites and networking.
