Innotrac Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported total revenue of $22,258,000 compared to $32,001,000 for the same period a year ago. Operating income was $131,000 compared to $1,187,000 for the same period a year ago. Income before income taxes was $89,000 compared to $829,000 for the same period a year ago. Net loss was $78,000 or $0.01 basic and diluted per share compared to net income of $829,000 or $0.07 basic and diluted per share for the same period a year ago. The decrease in revenue for the three months ended September 30, 2009 as compared to the same period in 2008 was due to a $5.7 million decrease in service revenue and a $4.0 million decrease in freight revenue, which has no material impact on the company's operating profitability due to pricing practices for direct freight costs. For the nine months, the company reported total revenue of $78,624,000 compared to $94,241,000 for the same period a year ago. Operating income was $4,071,000 compared to $3,770,000 for the same period a year ago. Income before income taxes was $3,864,000 compared to $2,686,000 for the same period a year ago. Net income was $3,697,000 or $0.29 basic and diluted per share compared to $2,686,000 or $0.21 basic and diluted per share for the same period a year ago. Net cash provided by operating activities was $10,886,000 compared to $3,883,000 for the same period a year ago. Capital expenditures were $845,000 compared to $2,381,000 for the same period a year ago. The decrease in revenue for the nine months ended September 30, 2009 as compared to the same period in 2008 was due to a $5.9 million decrease in service revenue and a $9.7 million decrease in freight revenue, which has no material impact on the company's operating profitability due to pricing practices for direct freight costs.

On August 27, 2009, BDO Seidman, LLP was dismissed as the independent registered public accounting firm engaged to audit the financial statements of Innotrac Corp. The Audit Committee of the Board of Directors of the Company approved the change. BDO performed the audit of the Company's financial statements for the fiscal years ended December 31, 2007 and December 31, 2008. On September 2, 2009, the Audit Committee of the Board of Directors of the Company engaged Grant Thornton LLP as its independent registered public accounting firm to audit the Company's financial statements.

Innotrac Corp. announced unaudited condensed earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net income of $1.84 million or $0.15 per diluted share on total revenue of $27.59 million compared to net income of $0.99 million or $0.08 per diluted share on total revenue of $29.53 million for the same period a year ago. Operating income was $1.90 million compared to $1.35 million for the same period a year ago. Income before income taxes was $1.84 million compared to $0.99 million for the same period a year ago. The decrease in revenue was primarily due to a $2.6 million decrease in freight revenue, which has no material impact on operating profitability due to pricing practices for direct freight costs, offset by a $0.63 million increase in service revenue for the quarter as compared to the same period in 2008. For the six months, the company reported net income of $3.78 million or $0.30 per diluted share on total revenue of $56.37 million compared to net income of $1.86 million or $0.15 per diluted share on total revenue of $62.24 million for the same period a year ago. Operating income was $3.94 million compared to $2.58 million for the same period a year ago. Income before income taxes was $3.78 million compared to $1.86 million for the same period a year ago. Net cash provided by operating activities was $11.38 million compared to $1.57 million for the same period a year ago. Capital expenditures were $0.67 million compared to $1.41 million for the same period a year ago. The decrease in revenue was primarily due to a $5.7 million decrease in freight revenue resulting from the transition of company owned freight accounts to client owned freight accounts and an $0.18 million decrease in service revenue.