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TheStreet Open House

IncrediMail's CEO Discusses Q1 2011 Results - Q&A Transcript

IncrediMail Ltd. ( MAIL)

Q1 2011 Earnings Conference Call

May 12, 2011 10:00 AM EST

Executives

Rob Fink – IR, KCSA

Josef Mandelbaum – CEO

Yacov Kaufman – CFO

Analysts

Nick Halen – Sidoti & Company

Aram Fuchs – FertileMind Capital

Kenneth Miller – Nokomis Capital

Question-and-Answer Session

Operator

Thank you, gentlemen. Ladies and gentlemen, at this time, we will begin the question-and-answer session. (Operator Instructions). The first question is from Nick Halen of Sidoti & Company. Please go ahead, sir.

Nick Halen – Sidoti & Company

Hi guys. First question I had is in terms of the non-search growth that you guys mentioned in the quarter and I was wondering if you can give us a little bit more color on what exactly – what products or what’s your overall growth in the first quarter 2011?

Josef Mandelbaum

Sure. First of all, hi Nick. Nice to have you on the line. The basic growth came from two areas, which Yacov mentioned. I’ll maybe just in little more details. One is on the premium products which we said before we’re putting a little more focus on. It takes time to see those revenues come in because it’s basically mostly subscription base model. But as we said that you should start seeing deferred revenue go up. And in fact in this past quarter, the deferred revenue went up not by luck, but it went up.

The second one is in advertising revenues up until last year. We do really have a toolbar solution for any of our product and we did institute in the last November in that timeframe, downloading – giving toolbars that are related to the products people are downloading so they can search better, get access to the product better through search through a toolbar. And on the toolbar we actually have put in some advertising. And frankly just because of our install base, as more and more people has adopted the toolbar, our advertising revenues went up. That was part of our strategy. It was one of those I think quick wins I mentioned earlier going back a few months, and it’s having some very positive results for us.

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