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EL SEGUNDO, CA--(Marketwire - Oct 25, 2012) - Stamps.com® ( NASDAQ : STMP ), the leading provider of postage online and shipping software solutions, today announced record results for the third quarter ended September 30, 2012.
Highlights for the third quarter:
Core PC Postage revenue was $27.2 million, up 20% from the third quarter of 2011.
Non-GAAP operating margin was 28.8% compared to 21.8% in the third quarter of 2011.
GAAP net income was $7.0 million or $0.42 per fully diluted share, including $0.9 million in stock-based compensation expense and $0.4 million in one-time relocation expenses associated with the third quarter relocation of our corporate headquarters.
On a non-GAAP basis, excluding the stock-based compensation and relocation expenses, income from operations was $8.4 million, net income was $8.3 million and net income per fully diluted share was $0.50, up 54%, 49% and 35%, respectively, versus the third quarter of 2011.
The Company raised its guidance today for 2012 revenue and earnings per share.
During the third quarter of 2012, the Company repurchased a total of 961 thousand shares at a total cost of $19.9 million.
"We are extremely pleased with our record earnings and with the continued strength in our core PC Postage business," said Ken McBride, Stamps.com Chairman and CEO. "Despite a continued tough economic environment, we continue to set new records across the board in our business. In addition to our earnings and revenue records this quarter, our customers printed the highest amount of postage ever for a quarter and we continued our strong growth in both our Enterprise and high volume shipping areas. As a result of the strength across our business, we are raising our 2012 guidance today."
Share Repurchase
During the third quarter of 2012, the Company repurchased a total of 961 thousand shares at a total cost of $19.9 million. On October 17, 2012, the Board of Directors approved a new share repurchase plan authorizing the Company to repurchase up to 1.0 million shares of Stamps.com stock during the next six months.
Stamps.com Announces Record Non-GAAP Earnings per Share of $0.50 - Yahoo! Finance
Highlights for the third quarter:
Core PC Postage revenue was $27.2 million, up 20% from the third quarter of 2011.
Non-GAAP operating margin was 28.8% compared to 21.8% in the third quarter of 2011.
GAAP net income was $7.0 million or $0.42 per fully diluted share, including $0.9 million in stock-based compensation expense and $0.4 million in one-time relocation expenses associated with the third quarter relocation of our corporate headquarters.
On a non-GAAP basis, excluding the stock-based compensation and relocation expenses, income from operations was $8.4 million, net income was $8.3 million and net income per fully diluted share was $0.50, up 54%, 49% and 35%, respectively, versus the third quarter of 2011.
The Company raised its guidance today for 2012 revenue and earnings per share.
During the third quarter of 2012, the Company repurchased a total of 961 thousand shares at a total cost of $19.9 million.
"We are extremely pleased with our record earnings and with the continued strength in our core PC Postage business," said Ken McBride, Stamps.com Chairman and CEO. "Despite a continued tough economic environment, we continue to set new records across the board in our business. In addition to our earnings and revenue records this quarter, our customers printed the highest amount of postage ever for a quarter and we continued our strong growth in both our Enterprise and high volume shipping areas. As a result of the strength across our business, we are raising our 2012 guidance today."
Share Repurchase
During the third quarter of 2012, the Company repurchased a total of 961 thousand shares at a total cost of $19.9 million. On October 17, 2012, the Board of Directors approved a new share repurchase plan authorizing the Company to repurchase up to 1.0 million shares of Stamps.com stock during the next six months.
Stamps.com Announces Record Non-GAAP Earnings per Share of $0.50 - Yahoo! Finance