Friday, February 18, 2005
Stamps.com Revenues Up Despite PhotoStamps Stall
Santa Monica-based Stamps.com (Nasdaq: STMP) reported its fourth quarter results yesterday, showing record revenues and an 83% increase in revenue for the quarter year to year, despite the stall of its PhotoStamps service in the post office. The company had revenues of $11.7M, and net income of $1.5M. Stamps.com provides online postage printing services. The company's immensely popular PhotoStamps service, which allowed people to print their own pictures on US postage, is still stalled at the US Post Office. The company's service was suspended early, reportedly due to inappropriate content making it onto postage.