j2 Global Communications, Inc. (JCOM) reported fourth-quarter net income of $29.8 million or $0.62 per share, compared to $26.9 million or $0.58 per share in the year-ago quarter.
On a non-GAAP basis, net earnings for the quarter rose to $30.6 million or $0.64 per share from $27.7 million or $0.60 per share last year. On average, nine analysts polled by Thomson Reuters expected earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter grew 19.8 percent to $85.07 million from $71.03 million in the comparable quarter last year, while nine Street analysts had a consensus revenue estimate of $85.83 million for the quarter.
For fiscal 2012, the company expects Non-GAAP net earnings to be about the same as for 2011 and revenues to be between $345 to $365 million. Analysts expect revenues for the full year of $357.64 million.
Further, the company's Board of Directors has approved the declaration of a quarterly cash dividend to its shareholders of $0.21 per common share, a 2.4% increase versus last quarter's dividend. The dividend will be paid on March 12, 2012 to all shareholders of record as of the close of business on February 27, 2012.
Also, j2 Global's Board of Directors has approved a share repurchase program, replacing the existing share repurchase program set to expire April 30, 2012. Under the new program, the company may purchase in the public market or in off-market transactions up to five million shares at any time or times through February 20, 2013.
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