j2 Global Communications, Inc. (JCOM), Tuesday said its first quarter profit increased from the prior year on higher subscriber revenues. j2 Global also provided its fiscal 2009 earnings forecast.
First quarter net earnings of J2 Global rose to $18.65 million or $0.42 per share from $16.79 million or $0.35 per share in the same quarter a year ago.
Expensing for share-based compensation impacted net earnings by approximately $1.6 million or $0.04 per share.
On average, nine analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues for the quarter increased 3% to $60.39 million from $58.65 million in the same quarter a year ago, below Street expectation of $61.25 million.
Subscriber revenues increased to $59.64 million from $57.22 million in the prior-year quarter.
Gross margin was 81.1%, compared to 80.2% in Q1 2008,while operating margins increased to 43.8% from 38.4% in Q1 2008.
Total operating expenses decreased to $22.53 million from $24.52 million in the corresponding quarter last year.
For fiscal 2009, j2 Global expects modest revenue and earnings growth, inclusive of acquisitions.
JCOM closed Tuesday's regular trading at $24.28, up $0.33 or 1.38%, on a volume of 0.44 million shares. In after-hours trading, the stock dropped $0.54 or 2.22%, to trade at $23.74.
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