Q3 revenue more than doubles year-over-year at iMergent
Revenue at iMergent Inc., a provider of e-commerce software for small retailers, more than doubled to $25 million for the third quarter ended March 31, up from $10.3 million a year ago, as net income rose to $2.8 million from a net loss of $6.4 million, the company said.
For the nine months ended March 31, revenue increased more than fivefold to $156.9 million from $28.2 million the year-earlier period, as net income rose to $108.5 million from a net loss of $21.2 million.
Brandon Lewis, president and COO, said much of the revenue increase reflects a change in the company’s business model implemented in December 2005. As a result of that change, the company has recognized $108 million in revenue for the nine-month period that otherwise would have been recognized in future periods, he said.
The net dollar volume of contracts written during the nine-month period ended March 31 totalted $68.4 million, up from $65.8 million in the year-earlier period.
IMergent is taking several steps, including a new product-financing policy, to continue increasing revenue and profits, Lewis said. “We have several new products and initiatives in the pipeline to accomplish this goal—from the broadening of our training and education programs to offering exciting new products and solutions that help our merchants develop effective web sites via proactive tools and solutions offering innovative and enhanced functionality,” he said.
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