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First quarter revenue for Digital River Inc., a vendor of e-commerce services, was virtually flat compared to a year ago—$102.9 million this year vs. $103.6 million a year ago—but revenue exceeded management’s expectations of $96 million to $100 million.
First quarter revenue for Digital River Inc., a provider of e-commerce services, was virtually flat compared to a year ago-$102.9 million this year vs. $103.6 million a year ago-but revenue exceeded management’s expectations of $96 million to $100 million.
First quarter net income was $16.6 million, down 9.3% from $18.3 million a year earlier.
“We are very encouraged by the solid growth in our pipeline, the high caliber of companies that we are adding to our client list, and the moderate sequential increase we saw in e-commerce sales activity,” says CEO Joel Ronning. “We believe these factors combined with our focus on new product development and sales execution will create a strong foundation for growth. We remain confident in our business strategy and value proposition, and are cautiously optimistic in our outlook for 2009.”
For the second quarter, Digital River expects sales of $95 million to $97 million, compared to last year’s Q2 revenue of $98.4 million.
Digital River’s e-commerce clients include Adobe, Canon Europa, Gateway, CompUSA, Microsoft, Sony Electronics, Symantec and Targus.