Streamlite Reports Record Fourth Quarter and Full-Year 2010 Revenue Growth

ATLANTA, Feb. 7, 2011 /PRNewswire/ -- Streamlite Inc., a national business-to-consumer lightweight package delivery company, reports record growth in the fourth quarter of 2010 and points to e-commerce trends as a key contributor to the company's year-over-year revenue increase.

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2010 Financial Results

The company recorded fourth quarter revenues of $43.9 million, an increase of 47 percent over the prior year. Package volume in the fourth quarter of 2010 increased 48 percent over the same period in 2009. Streamlite expanded its national customer base of business-to-consumer high-volume shippers in retail, pharmaceutical and business services by more than 30 percent over 2009. December 2010 was a high watermark for Streamlite in terms of revenue and volume.

Revenues for the full year 2010 rose 46 percent to $143 million, compared to $98 million for the previous year.

"For the fifth consecutive year since Streamlite began operations, we've averaged about 50 percent year-over-year revenue growth," said Randy Clark, Streamlite president and CEO. "These strong financial results reflect the staying power and solid positioning of our company within the shipping industry."

E-Commerce Trends

According to Clark, the company remains well positioned for growth, largely due to Streamlite's niche in lightweight package delivery for businesses, as more consumers shift shopping channels from in-store to online and as manufacturers create increasingly smaller and lighter consumer goods.

Jon Routledge, senior vice president of sales for Streamlite, noted that having the right network and solutions at the right time is a major factor for Streamlite's business-model success. He said that Streamlite's unique hybrid solution of working with the U.S. Postal Service (USPS) for final mile – and less expensive – delivery, while providing first-class reliability and visibility of packages, provides retail customers cost savings they can pass along to consumers.

"An increasing number of retailers manifest this cost savings in the form of free shipping," said Routledge. There's a reason.

According to comScore's third quarter 2010 "State of Retail" report, 55 percent of consumers are at least somewhat likely to abandon their shopping carts if free shipping is not offered. Additionally, best price and free shipping are leading influences on buying decisions, according to ChannelAdvisor's 2010 "Consumer Shopping Habits" report.

In November, leading retailers responded to consumer demand and upped the free shipping ante by removing minimum order requirements from their free shipping offers. The result was an increased number of smaller online orders, according to analysis of three million large retailer transactions performed by search marketing and online advertising technology leader Kenshoo.

"Retailers that offer 'no minimum free shipping' take on volume increases with less product margin, increasing the need to reduce shipping costs," said Routledge.  

According to a January poll of Streamlite's retail customers, 83 percent of those who plan to offer free shipping at some point in 2011 indicated that Streamlite or another delivery provider makes free shipping possible through low cost delivery service.

"Our low cost but time-defined delivery of products from customers' docks to consumers' doors empowers retailers to provide free shipping," said Streamlite's Routledge. "By delivering packages on time, every time, we're directly delivering customer satisfaction for our retailers. Indirectly, by enabling consumer perks like free shipping, we're delivering to our retail customers repeat purchases, new customers and the ability to remain competitive."

In fact, 81 percent of Streamlite's retail customers said delivery either "strongly" or "somewhat" impacts their ability to compete for e-commerce market share, primarily by passing cost savings from low cost delivery along to customers, or by receiving repeat online orders as a result of on-time delivery.

"Our dedicated team, strategic locations and targeted customer acquisition and retention plans have all contributed to our growth," said Clark. "As we expand facilities and hire new team members, we remain focused on our undying commitment to serving customers. We believe in our network and will continue to provide solutions that capitalize on trends in this high-growth market."

Streamlite, initially founded in 2005 as MailExpress, has 20 distribution centers across the U.S. The company rebranded as Streamlite last year to better reflect its timely and unique positioning in the marketplace.

About Streamlite Inc.:

Streamlite Inc. accelerates the delivery of lightweight packages from many leading retail, online and catalog brands directly to consumers' doors. Customers, including Fortune 500 apparel companies, electronics retailers and mail-order pharmacies, experience tangible economic improvement in their high-volume shipping programs as a result of Streamlite's consistent, reliable and trackable delivery. Seamless integration with the U.S. Postal Service enables Streamlite to improve consumer satisfaction with guaranteed delivery of packages weighing five pounds and under in five business days or less at a low cost. 

Streamlite is headquartered in Atlanta with distribution centers located across the country. For more information, call 800-920-5494 or visit www.streamliteinc.com.

SOURCE Streamlite Inc.