TouchStone Software Corp. Reports Q2 Revenue of $1,034,207 and Earnings of 2 Cents per Share - Continues String of 7 Successive Profitable Quarters - Longest Streak in TouchStone's History
Tuesday July 24, 7:00 am ET
NORTH ANDOVER, Mass.--(BUSINESS WIRE)--TouchStone Software Corporation (OTCBB:TSSW - News) today announced that for the quarter ending June 30, 2007, net revenue was $1,034,207, an increase of 40.5% over the same period in 2006. On a GAAP basis, TouchStone Software's second quarter net earnings were $259,575, or $0.02 per share diluted. As a percentage of sales, gross profit margin for the second quarter improved to 98% as compared to 93% for the same period in 2006.
Financial Highlights
TouchStone Software's Q2 2007 revenue increased 40.5% versus Q2 2006 and compared favorably to Q1's 2007 revenue increase of 39.7% over Q1 2006
TouchStone Software posted its 7th consecutive quarter of profitability
TouchStone Software's Q2 2007 net income increased 43% versus Q2 2006
TouchStone Software ended the quarter with cash and cash equivalents, restricted cash, and investments of $1,436,656, an increase of $962,127 from the same period in 2006 and the highest level in over 6 plus years
Driver Agent's total active subscribers grew 97% in Q2 of 2007 from Q1 in 2007
Financial Outlook
TouchStone Software expects continued strong revenue and earnings results for the rest of 2007 as new online services are rolled out and website traffic continues to grow resulting in significant growth in subscribers to TouchStone's overall online services business
TouchStone Software anticipates releasing an OEM version of DriverAgent in the 4th quarter of 2007
"TouchStone's Driver Agent has once again turned in a strong performance as expected and continues to receive wide acceptance among the PC community and the press" said Jason K. Raza, President and Chief Executive Officer of TouchStone Software Corporation. "TouchStone's strategy of aggregating Internet traffic through its network of web properties along with the expected launch of TouchStone's new Windows based Registry Cleaner in September as well as an OEM version of Driver Agent named Driver AgentPRO is expected to provide strong momentum to TouchStone's growth over the next several quarters".
Business Highlights:
TouchStone Software welcomed several new Internet partners in the 2nd quarter including:
-- www.ViaArena.com
-- www.Laptops2go.com
-- www.Tweaksrus.com
-- www.Driverstock.com
-- www.Driverfiles.net
TouchStone Software's web traffic continued to achieve record new highs during the 2nd quarter of 2007 with over 12 million unique visitors in the three months
Total page views across the entire TouchStone Software network of websites exceeded 68 million for the three month period ending June 30, 2007 and averaged over 22 million per month
TouchStone Software successfully closed the acquisition of 62nds and relocated the lead developer of DriverAgent to the United States
TouchStone Software's Driver Agent receives top mention in the August issue of Smart Computing's "Find Device Drivers For Windows Vista" article |
