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EasyLink Services International Corporation Announces Fiscal Second Quarter 2011 Financial Results

Stocks in this article: ESIC

NORCROSS, Ga., March 14, 2011 (GLOBE NEWSWIRE) -- EasyLink Services International Corporation ("EasyLink" or "Company") (Nasdaq:ESIC) ( www.easylink.com), a global provider of comprehensive messaging services and e-commerce solutions, reported record fiscal second quarter 2011 revenue of $47.4 million, up 132% from the second quarter of fiscal 2010; record gross profit of $29.9 million, up 103% from the second quarter of fiscal 2010, record cash flow from six months of operations of $12.9 million, up 63% from the second quarter of fiscal 2010, and record adjusted EBITDA of $12.1 million, up 128% from the second quarter of fiscal 2010. These results include the effects of the acquisition of the Xpedite business, which took place in October 2010. 

"We have entered a new era for EasyLink stakeholders that is rooted in our global leadership in cloud-based enterprise messaging, our expanded product portfolio, organizational scale, and international footprint," said Tom Stallings, CEO of EasyLink. "Most notable to EasyLink's shareholders, this new era is marked by an expanding opportunity pipeline and record financial results:

  • Record second quarter revenues of $47.4 million;  
  • Record second quarter gross profit of $29.9 million;  
  • Highest cash flow from six months of operations of $12.9 million;  
  • Record adjusted EBITDA of $12.1 million."

  Financial Review

Revenue for the second quarter of fiscal 2011 was approximately $47.4 million compared to $20.4 million in the second quarter of fiscal 2010. Gross profit for the second quarter of fiscal 2011 was $29.9 million compared to $14.7 million in the second quarter of fiscal 2010. 

On Demand Messaging revenue for the second quarter of fiscal 2011, which includes fax, production messaging, document capture and management, e-mail services, and notifications services, was approximately $37.9 million compared to approximately $10.2 million in the second quarter of fiscal 2010. On Demand Messaging revenue includes all of the revenue from our recent acquisition of the Xpedite companies. On Demand Messaging represented approximately 80% of total revenue for the second quarter of fiscal 2011. 

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