August 10, 1999 06:17
CommTouch Revenues Increase 837 Percent
SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 10, 1999--CommTouch Software Ltd. (Nasdaq:CTCH), a leading provider of web-based email, today reported results for the second quarter and six months ended June 30, 1999.
Revenues for the quarter ended June 30, 1999 increased 837% to $553,000 from $59,000 in the comparable quarter a year ago. Revenues for the six months ended June 30, 1999 increased 887% to $899,000 from $91,000 for the six months ended June 30, 1998. Revenues for the 1999 second quarter rose 59% over first quarter revenues of $346,000. As of June 30, 1999, the company had a backlog from email service fee contracts amounting to approximately $4,000,000 which will be recognized as revenue on a ratable basis through the second quarter of 2001.
"The increase in our revenues are a testament to the rapidly growing number of business partners who recognize CommTouch's unique ability to provide them with state of the art email services," explained Gideon Mantel, CEO of CommTouch. "During the past quarter, CommTouch has attracted nearly two million new subscribers to its services, and we see this trend continuing as we provide more email solutions," Mantel added.
Net loss for the quarter ended June 30, 1999 was $3.6 million compared to $1.04 million for the second quarter of 1998. Net loss for the six month period ended June 30, 1999 were $5.93 million compared to $1.96 million for the second quarter of 1998. Net loss per share for the quarter ended June 30, 1999 was $1.66 compared to net loss per share of $0.72 in the comparable quarter a year ago.
About CommTouch
Serving now 6.4 active mailboxes around the world, CommTouch is a leading provider of private-label email services, offered exclusively through the web sites of major Internet portals, community sites and web-based businesses. CommTouch email is designed for superior performance and rapid scalability, offering end user interfaces in fifteen of the world's major languages.
With more than eight years of delivering intuitive, award-winning email software, CommTouch provides its partners a truly comprehensive turn-key email service, together with options for premium communications services and direct marketing opportunities.
The company partners with internationally recognized consumer-driven organizations, including Excite (Nasdaq:ATHM), Go2Net (Nasdaq:GNET), McGraw Hill's BusinessWeek Magazine (NYSE:MHP), Discovery Channel Online, Nippon Telephone & Telegraph (NYSE:NTT), ZDNet (NYSE:ZDZ), Talk City, LookSmart, Netopia (Nasdaq:NTPA), Hachette Multimedia, the McClatchy Group's Nando.net (NYSE:MNI), The Headbone Zone, News Corp's (NYSE:NWS) People's Daily joint venture ChinaByte and the Hollinger Group's Jerusalem Post.
Founded in 1991, CommTouch has offices in Silicon Valley, Calif., New York City and Ein Vered, Israel. Additional information may be obtained by visiting: www.commtouch.com.
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