This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bitstream Inc. Reports First Quarter Results For 2011

Stocks in this article: BITS

Bitstream Inc. (Nasdaq: BITS) today reported that total revenue increased by $1,605,000 or 31% to $6,813,000 for the three months ended March 31, 2011 as compared to total revenue of $5,208,000 for the three months ended March 31, 2010 and by $294,000 or 5% sequentially as compared to $6,519,000 for the three months ended December 31, 2010. The Company’s aggregate cash, cash equivalents, and investments at March 31, 2011 totaled $11,456,000, an increase of $188,000 from a balance of $11,268,000 at December 31, 2010.

“We are pleased to report that revenues increased sequentially for the fourth consecutive quarter to $6,813,000 for the first quarter of 2011," said Amos Kaminski, Executive Chairman and Chief Executive Officer. "The increase from the prior year was the result of increased sales across all of our product lines. MyFonts sales, with the addition of Webfonts, continue to grow and exceeded our expectations. Our OEM font product line closed several large licenses during the quarter that include possible royalties in future quarters. In addition to closing Pageflex Storefront licenses, our publishing line also received OEM revenue from our acquired iWay product. We continue to strengthen the relationships with our iWay OEM partners and additionally have signed contracts with iWay resellers in the US and Europe. Our BOLT browser team, built over the past year, is focused on generating revenue opportunities through a variety of channels and establishing BOLT’s brand recognition."

The increase in cost of license revenue for the three months ended March 31, 2011 as compared to the three months ended March 31, 2010 is due to the increase in direct third party cost of $473,000 primarily from royalties associated with e-commerce sales and $47,000 for amortization expense related to the acquisition of iWay technology. Cost of services increased primarily due to the additional personnel added with the iWay acquisition.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs