iMergent offers VeriShip auditing service to merchants
IMergent Inc., a provider of e-commerce software and solutions, is providing VeriShip auditing services for Federal Express and United Parcel Service shipments to its StoresOnline Pro merchants.
VeriShip’s service allows merchants to monitor shipment delivery, identify invoice overcharges and detect incorrect rates and discounts and unauthorized charges. VeriShip then files with shipping carriers for credits or refunds on behalf of clients, which in turn pay VeriShip a fee. VeriShip will pay a commission to iMergent for earnings generated through StoresOnline Pro merchants.
“Our merchants depend on shipping carriers to deliver their products and services both on-time and on-budget,” says Donald Danks, iMergent chairman and CEO. “A shipping audit is typically available only to companies with enormous shipping volume. However, VeriShip provides an exceptional service at a reasonable price that we are proud to offer our merchants.”
IMergent reported revenue of $44.3 million for its fourth fiscal quarter ended June 30. That’s up 57% from $28.2 million in the year-ago quarter. Net income for the quarter was $5.3 million, compared to $2.2 million a year earlier.
Revenue for the year ended June 30 totaled $151.6 million, down 18% from $185.1 million. The prior year included recognition of previously deferred product and other revenue, due to a change in the company’s business model in December 2005. Net income for the year was $24 million, compared to $110.6 million a year earlier.
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