Stamps.com could return to sales growth in 2020

Stamps.com could return to sales growth in 2020

Stamps.com, a provider of postage online and shipping software, has announced results for the fourth quarter and fiscal year ended December 31, 2019.

Fourth Quarter 2019 Financial Highlights

  • Total revenue was $160.9 million, down 5% compared to $170.2 million in the fourth quarter of 2018.
  • GAAP net income was $20.3 million, down 52% compared to $42.7 million in the fourth quarter of 2018.
  • GAAP net income per fully diluted share was $1.13, down 51% compared to $2.30 in the fourth quarter of 2018.
  • Non-GAAP adjusted EBITDA was $51.4 million, down 28% compared to $71.3 million in the fourth quarter of 2018.
  • Non-GAAP adjusted income per fully diluted share was $2.12, down 43% compared to $3.73 in the fourth quarter of 2018.

Business Outlook

For fiscal year 2020, the Company currently expects its GAAP financial outlook to be as follows:

  • We expect total revenue to be in a range of approximately $570 million to $600 million
  • We expect GAAP net income to be in a range of approximately $41 million to $53 million
  • We expect GAAP net income per fully diluted share to be in a range of approximately $2.08 to $2.92
  • We expect our 2020 effective tax rate to be approximately 40%

Ken McBride, Stamps.com’s Chairman and CEO commented: “In 2019, we continued to make significant strides towards our goal of being the leading worldwide multi-carrier e-commerce software company. We continued to invest in our products and partnerships throughout 2019 to address the significant opportunities in the U.S. and internationally. We are very excited about our business prospects in 2020 and beyond.”

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