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Tuesday, May 28, 2024

United Online Shares Up on Good News in Q3

Shares in United Online Inc. were up the day after the company reported a 16 increase in net income when compared with the previous year. The Woodland Hills-based provider of Internet services and products reported a net income of $16.2 million, or $0.21 per diluted share, on revenues of $169.2 million for the quarter ending Sept. 30. For the same period in 2007, the company had net income of $14 million, or $0.20 per diluted share, on revenues of $126.9 million. Improvements to the website and new marketing initiatives drew more traffic to the site and more user-generated content to the social networking sites, said Chairman, President and CEO Mark Goldston. Revenues in the Classmates Media business segment were $58.7 million for the third quarter, an increase of 18 percent over the same period a year ago. Revenue, however, dropped in the Communications business segment to $62.1 million from $76.9 million from a year ago. United Online completed its acquisition of floral business FTD in the third quarter, a move that diversifies the company’s revenue stream. The company has made progress with new marketing initiatives to enhance the FTD business, Goldston said. Shares in United Online closed up at $7.40.

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