Friday, July 31, 2009
Stamps.com Results Flat, PhotoStamps Down
Los Angeles-based Stamps.com reported its results Thursday, saying that the firm had net income of $1.0M on revenues of nearly $20.2M in Q2, essentially flat year to year compared with $1.3M in income on $21.4M in revenues for the similar quarter last year. The company saw a steep drop in its revenues from its personalized photo product, PhotoStamps, which was down 31% to $2.0M in sales. No reason for the drop in PhotoStamps sales was given by the firm. PC postage sales totaled $18.2M, down slightly from last year.