Stamps.com Stock Soars as Profit Nearly Triples
Stamps.com Inc., which sells postage over the Internet, said Wednesday that its fourth-quarter earnings nearly tripled as sales of customer-designed stamps soared. The Los Angeles-based company’s shares rose 23%.
Net income increased to $4.1 million, or 17 cents a share, from $1.46 million, or 6 cents, a year earlier. Sales increased 76% to $20.6 million. Revenue from customer-designed stamps was $6 million, up from $947,000. Stamps.com’s shares jumped $5.82 to $30.99. They had risen 82% in the last year.
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