BRIEF: IncrediMail revenue up 34 percent

Mon. May 04, 2009; Posted: 03:54 PM

May 04, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) -- MAIL | Quote | Chart | News | PowerRating -- IncrediMail Ltd. today published its financial report for the first quarter of 2009. The company posted $6.4 million revenue for the first quarter, 34 percent more than the $4.8 million for the corresponding quarter of 2008.

GAAP-based net profit was $1.4 million ($0.15 per share) for the first quarter, compared with a net loss of $700,000 for the corresponding quarter. Non-GAAP net profit more than tripled to $1.6 million ($0.18 per share) from $500,000 for the corresponding quarter.

IncrediMail CEO Ofer Adler said, "We succeeded in growing our revenues by over 30 percent this quarter. Although traditionally lower than the fourth quarter, the first quarter saw record revenue as we realized the full benefit of our refocused business activities from initiatives that we put into place in 2008."

Looking ahead, Adler added, "We continue to believe that we will be able to attain $25 million in revenues during 2009. We believe this is achievable through volume: increased queries offsetting the decrease in the average revenue per query."

IncrediMail's share closed at $3.80 on Nasdaq on Friday, giving a market cap of $35 million. The share rose 3.8 percent by midday on the TASE today to NIS 16.64.

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For full details on Incredimail (MAIL) click here. Incredimail (MAIL) has Short Term PowerRatings of 6. Details on Incredimail (MAIL) Short Term PowerRatings is available at This Link.

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