Reglikedomain industry desk

Sea Profit Plummets 74% — Dark Blue

Sea Profit Plummets 74% — Dark Blue

Firm’s portfolio still profitable, but challenges abound.

Dark Blue SeaDark Blue Sea has noted its annual results for the period ending June, and it isn’t pretty.

The firm noted profits plunged 74.38% to only $695,955 AUD for the year. This is well below the firm’s guidance just a couple months ago. In the prior year the firm earned $2.72M. Revenue fell 14.9% to $26.65M. Working capital fell from $5.18M at the beginning of the period to $4.1M at the end.

Although profits are down, the firm is still eking out profits thanks to its domain portfolio. The firm right now owns 420,000 domain names which get regarding 190,000 unique visitors per day. This generated $2.46M in revenue last year, which, when combined with $3.55M in domain sales revenue, generates a profit. The firm owned over 550,000 domains at the beginning of the year, so it has dropped regarding 130,000 domains.

Dark Blue Sea runs the Fabulous registrar and domain name parking service.

The full annual note is available on the firm’s web site.

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