Abazias.com Quarterly Sales Shoot Up 89%

Online loose diamond and jewelry seller Abazias had a terrific quarter, announcing yesterday (Tuesday) record quarterly sales of $735,683, an 89 percent jump, while reducing expenses dramatically. This resulted in its first quarter with a positive cash flow.

Abazias.com, the first online diamond seller to go public, reduced general and administrative expenses by 78 percent over last year, pushing gross profit up over 205 percent to more than $117,000 over the same period a year ago.

“All indications point to profitability, and excluding non cash items we are profitable now, and expect a lucrative end to the year,” says CEO Oscar Rodriguez.

Gross margins increased by almost 60 percent.

This was the first quarter that Abazias showed a positive cash flow as a public company, by over $43,000. “These significant results indicate that profitability is within reach since we posted a meager loss of only $25,933 for the quarter of which almost $66,000 dollars was a stock expense. Had it not been for such expense, we would be profitable today,” Rodriguez commented.

Abazias promotes the company through consumer public relations and strategic marketing alliances including promotional giveaways on national television game shows like, The Price is Right.

Abazias says over 70,000 diamonds, valued at more than $350 million, are available on its site. Most of the diamonds are GIA, AGS or EGL certified.