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SALT LAKE CITY - Overstock. com swung to a loss during the first quarter as gross margin declined in the face of more promotional events and high return costs.
     Net loss for the quarter ended March 31 was $454,000, or 2 cents per share, compared to net income in last year's 1Q of $3.7 million, or 16 cents per share.
     Revenues were flat - $265.5 million compared to $264.3 million in the year-ago period.