Club Photo announces first profitable month!
By
Mike Tomkins
(Wednesday, February 6, 2002 - 15:38 EST)
Online photofinisher sees significant online sales increase around Christmas season...
Club Photo Inc., an online photofinisher we've mentioned frequently in the past on this news page, has this week announced that it had its first profitable month in December of last year. This is great news for the company, which launched on December 15th 1998, but does demonstrate the tough marketplace in which online photofinishers operate. Initially an advertiser and print fulfillment-supported free service, it has taken the company three years and the implementation of a scheme whereby free albums are deleted after 90 days and permanent albums must be paid for to get to this point.
This is much better than many of the company's competitors, however, which have had to restrict free storage almost to the point of non-existance, or have fallen by the wayside altogether (most recently illustrated by the demise of PhotoPoint.com). Congratulations are definitely in order to everyone at Club Photo on their first month of profitability, hopefully just one of many to come.
The company also announced a fairly impressive rise in photofinishing revenues, with Q4 2001 showing a one hundred and seven percent rise over the previous quarter, and almost two and a half times the revenues of Q4 2000.
Club Photo CEO Andrew Wei stated: "Most of the news generated today about the digital photo services industry highlights only the business challenges. Today's news not only details the promising growth of Club Photo, but also signals the industry's potential and viability. Our growth demonstrates the value of our total services approach, including prints, cards, CDs, gifts, and memberships, as well as the continuing support from the Club Photo community.
Club Photo will also expand its fulfillment service for both digital and traditional photo partners in 2002 in addition to professional digital photographers. As the company further integrates digital features and processes into it's leading Signature Color lab, Club Photo will continue its commitment towards excellence in service and value for both strategic partners and consumers."
Source:
Club Photo Inc.
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Original Source Press Release:
| Club Photo Hits Record 4th Quarter Sales and Achieves Profitability in December SAN JOSE, Calif. February 4, 2002 - Club Photo? Inc., www.clubphoto.com, today announced its first profitable month in December 2001. Fourth-quarter sales also achieved record levels with digital photo service revenue increasing by 107% over the previous quarter, and 240% from Q4 2000.
"Most of the news generated today about the digital photo services industry highlights only the business challenges. Today's news not only details the promising growth of Club Photo, but also signals the industry's potential and viability," said Andrew Wei, CEO of Club Photo. "Our growth demonstrates the value of our total services approach, including prints, cards, CDs, gifts, and memberships, as well as the continuing support from the Club Photo community."
"Club Photo will also expand its fulfillment service for both digital and traditional photo partners in 2002 in addition to professional digital photographers. As the company further integrates digital features and processes into it's leading Signature Color lab, Club Photo will continue its commitment towards excellence in service and value for both strategic partners and consumers.
For information about Club Photo's consumer and professional services, many of which are available at no charge, visit the Club Photo site at www.clubphoto.com.
The Award-Winning Club Photo Difference
Club Photo is a leading digital photo service providing online and offline prints, personalized gifts, and photo CD products for both digital and traditional film users. The company's integrated solutions offer high quality photo prints and gifts, on-demand printing and free sharing via online albums. Members send in traditional undeveloped film or upload digital photos, then order only the prints they want and share their favorite photos instantly over the Web, on the desktop or on Palm OS handhelds, all with a few clicks of the mouse..
Club Photo has aligned with key industry leaders including Palm Inc., Handspring, Travelocity.com, Acer, Ricoh, Imaging-Resource, Qwest and PalmGear.
Club Photo is located at 650 Saratoga Avenue, San Jose, California and can be reached at (408) 557-6743 or www.clubphoto.com.
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