Bidz.com announced Tuesday that their net revenues for the third quarter of 2009 were $24.8 million, compared with $55.4 million reported in the third quarter of 2008.

The company’s net income dropped 99 percent to $39,000, compareed to $3.3 milion in 2008. Gross profit was approximately $7.2 million, compared with $13.3 million in the third quarter of 2008.

Bidz.com’s revenues for the year up to September 30th were $82.9 million, compared with $172.3 million reported for 2008. Gross profit was $25.6 million compared with $46.6 million last year.

JCK