Dec 2, 2002 : Electric Mail Announces Q3 Results
📅 - Email service provider and solution developer The Electric Mail Company Inc. (electricmail.com) announced on Friday that it has released its unaudited third quarter results for the period ending September 30, 2002, reporting revenues of approximately $588,000, up 24 percent over the same period last year.
Annuity revenues for the second quarter were $569,878, up 24 percent from the same period last year and down 1 percent from the previous quarter. The company attributes the increase over 2001 to the ongoing addition of new customers and existing customers adopting the company's virus scanning, SPAM filtering and other hosted email services.
Operating expenses for the third quarter were $533,381, compared to $646,571 for the same period last year and $512,403 for the previous quarter. The company says it is managing costs and investing in R&D and lead generation programs.
Electric Mail has an operating profit of $45,540 for the year to date, and gross margins of approximately 80 percent.
"We are very pleased with Electric Mail's progress year to date," says Richard Cheung, CFO, The Electric Mail Company "Our focus for 2003 continues to be investing in our technology, executing on sales & marketing programs and, most importantly, managing the business to profitability."
Annuity revenues for the second quarter were $569,878, up 24 percent from the same period last year and down 1 percent from the previous quarter. The company attributes the increase over 2001 to the ongoing addition of new customers and existing customers adopting the company's virus scanning, SPAM filtering and other hosted email services.
Operating expenses for the third quarter were $533,381, compared to $646,571 for the same period last year and $512,403 for the previous quarter. The company says it is managing costs and investing in R&D and lead generation programs.
Electric Mail has an operating profit of $45,540 for the year to date, and gross margins of approximately 80 percent.
"We are very pleased with Electric Mail's progress year to date," says Richard Cheung, CFO, The Electric Mail Company "Our focus for 2003 continues to be investing in our technology, executing on sales & marketing programs and, most importantly, managing the business to profitability."
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