November 12, 2007 / 10:33 PM / 12 years ago

UPDATE 1-Bidz.com posts Q3 results above street view

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Nov 12 (Reuters) - Online retailer Bidz.com Inc BIDZ.O posted quarterly results above analysts’ view, helped mainly by increase in demand for its jewelry products and sales, and raised its full-year revenue forecast.

The Culver City, California-based company posted third-quarter net income of $3.6 million, or 14 cents a share. Analysts on average were expecting earnings of 11 cents a share, before items, according to Reuters Estimates.

For 2007, the company said it expects revenue of $180 million to $182 million and pre-tax income of $18 million to $18.5 million. In August, the company had forecast full-year revenue of $170 million to $180 million.

Analysts on average were expecting revenue of $174.5 million for the year, according to Reuters Estimates.

Bidz forecast fourth-quarter revenue of $56 million to $58 million, and pre-tax income of about $5.6 million to $6 million. Analysts on average were expecting revenue of $53 million according to Reuters Estimates. (Reporting by Avishek Mishra in Bangalore; Editing by Jarshad Kakkrakandy)

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