Aug, 2001 : Register.com Reports Q2 Revenue Increase of 48%

📅 August 1, 2001 - Register.com, Inc., a leading provider of global domain registration and Internet services, Tuesday reported that net income for the second quarter 2001 totalled approximately $2.0 million or $0.05 per diluted share, versus a net loss of $992,000 or ($0.03) per share in the second quarter of 2000.

Second quarter 2001 cash earnings, or net income excluding amortization ofgoodwill related to acquisitions, totalled $5.9 million or $0.13 per share.Net revenues for the second quarter 2001 were $30.0 million, compared to netrevenues of $20.2 million for the comparable year-ago period, a 48%increase.
Register.com ended the second quarter 2001 with over $183 million in cash,cash equivalents, short-term investments and available-for-sale securitieson its balance sheet. The company has no debt. Cash flow from operationsfor the second quarter 2001 was $5.6 million. Second quarter 2001 grossmargins were approximately 71%.
"For the third consecutive quarter, we reported profitable results," saidRichard D. Forman, president and CEO of Register.com in a statement. "Ourresults demonstrate an ability to drive revenues, profits and cash flowdespite this tough economic environment. We continue to hire personnel anddevelop new products and services for our customers, further investing inour business."
The Company registered, transferred and renewed approximately 505,000 domainnames in the second quarter of 2001. Approximately 95% of theseregistration units were registered through traditional Register.comchannels. The remainder of the quarter's registrations was registered viaNameBargain. The registrations for the quarter were comprised ofapproximately 314,000 new registrations and 191,000 renewals. As of June30, 2001, Register.com had over 3.7 million domain names under management.
In June, Register.com began accepting applications for .biz registrations,the first of seven new top-level domains approved for addition to theofficial Internet domain name system. In July, Register.com began acceptingapplications for .info Sunrise registrations from eligible trademark andservice mark holders.
Register.com also announced the launch of its Brand Protection Plan for .bizdomain names. The full-service offering helps companies protect theirtrademarks and offers IP claim application, registration application andregistration fees.
The company also expanded its global partner network to over 750 partners,including an alliance in June with Registro Brasil to offer full servicedomain registration and security services to Registro Brasil customers.Register.com became the first major registrar to launch automated, real-timeregistrations for domain names with the Japanese country code domainextension, .jp.