Net revenue at CoolSavngs Inc., a provider of e-marketing services including online coupons and a lead-generation network, rose 91% to $17.2 million year-over-year for the third quarter ended Sept. 30, up from $9 million in the year-ago quarter, it said today.
The increase coincided with a nearly four-fold increase in the number of newly registered consumers on its CoolSavings Marketing Network, through which it distributes offers from retailers. Most of the new registrations occurred in the lead-generation part of its network, it said.
Net income for the quarter was $1.8 million, including a one-time gain of $900,000 related to a lease adjustment, compared to a year-ago net loss of $200,000.
Total Q3 operating costs were $15.5 million, up 72% from $9 million a year ago. The company attributed the rise mostly to fees paid to partners in its lead-generation network.
Net revenue for the nine months ended Sept. 30 was $48.2 million, up 85% from $26.1 million in the year-ago period, as net income rose to $4.8 million from a net loss of $800,000.
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