Wednesday, IncrediMail Ltd. (MAIL), an Internet company providing an integrated suite of email software products, reported a profit for the second quarter that was flat with the year-ago quarter, despite a 21% increase in revenue. On a per share basis, earnings increased by a cent for the period.
Net income reported by the Tel-Aviv, Israel-based company was $628 thousands, or $0.07 per share, for the quarter compared to $625 thousands, or $0.06 per share, in the prior-year quarter.
On a non-GAAP basis, net income amounted to $769 thousands, or $0.08 per share, compared to $826 thousands, or $0.09 per share, reported a year earlier.
Quarterly revenue increased 21% to $5.22 million from $4.30 million in the same quarter of last year, and was up 10% sequentially from the first quarter.
The company noted that the increase in revenues resulted primarily from a 34% increase in search-related activities as well as increased product and subscription revenues.
For the first half, the company posted a loss of $48 thousand, or $0.01 per share, compared to net income of $1.46 million, or $0.15 per share, in the corresponding period last year.
On a non-GAAP basis, first-half net income was $1.22 million, or $0.13 per share, compared to net income of $1.8 million, or $0.19 per share, a year ago.
Year-to-date, revenue increased to $9.98 million from $8.72 million in the previous year.
Looking ahead, Ofer Adler, chief executive officer said, " We continue to prepare for the third-quarter commercial launch of both HiYo and Magentic, and are on-track towards launching the new version of IncrediMail during the fourth quarter. Taken as a whole, we are excited by our positive momentum and look forward to accelerated growth in the second half of the year."
MAIL is trading up $0.24 or 7.56% at $3.47 on a volume of about 12 thousand shares.
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