EL SEGUNDO, Calif. (AP) _ Stamps.com Inc. (STMP) on Thursday reported fourth-quarter net income of $29 million, after reporting a loss in the same period a year earlier.
The El Segundo, California-based company said it had net income of $1.61 per share. Earnings, adjusted for pretax expenses and stock option expense, were $2.73 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.
The online postage provider posted revenue of $105.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $97 million.
For the year, the company reported net income of $75.2 million, or $4.12 per share, swinging to a profit in the period. Revenue was reported as $364.3 million.
Stamps.com expects full-year earnings in the range of $6 to $7 per share, with revenue in the range of $400 million to $425 million.
Stamps.com shares have increased 17 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $133.75, a rise of 44 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STMP at https://www.zacks.com/ap/STMP
Keywords: Stamps.com, Earnings Report