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Commtouch Reports 27% Revenue Increase For Full Year 2011

SUNNYVALE, California, February 14, 2012 /PRNewswire/ --

Commtouch® (NASDAQ: CTCH), a leading cloud-based Internet security provider, today announced its fourth quarter and full year results, for the period ending December 31, 2011.

     (Logo: http://www.newscom.com/cgi-bin/prnh/20110906/478788 )

Fourth Quarter and Full Year 2011 Financial Highlights:

  • Revenues for 2011 increased by 27% to $23.0 million, compared to $18.2 million in 2010. Revenues for the fourth quarter of 2011 increased by 11% to $6.0 million, compared to $5.4 million in the fourth quarter of 2010.
  • Net income for 2011 in accordance with US Generally Accepted Accounting Principles (US GAAP) was $4.6 million, compared to net income of $4.4 million in 2010. For the fourth quarter of 2011, US GAAP net income was $1.3 million compared to net income of $1.7 million in the fourth quarter of 2010. GAAP net income in the fourth quarter of 2011 included a tax benefit of $1.2 million stemming from an increase in the deferred tax asset, compared to a tax benefit of $1.0 million in the fourth quarter of 2010.
  • GAAP earnings per diluted share for 2011 were $0.19, compared to $0.18 for 2010. GAAP earnings per diluted share for the quarter were $0.05, compared to $0.07 in the fourth quarter of 2010.
  • Non-GAAP net income for 2011 increased by 18% to $6.4 million, compared to $5.4 million in 2010. Non-GAAP net income for the fourth quarter of 2011 increased by 16% to $1.7 million, compared to $1.4 million for the fourth quarter of 2010.
  • Non-GAAP earnings per diluted share for 2011 were $0.26, an increase of 18% percent, compared to $0.22 for 2010. Non-GAAP earnings per diluted share for the quarter were $0.07, an increase of 17%, compared to $0.06 for the fourth quarter of 2010.
  • Deferred Revenues (long-term and short-term) as of December 31, 2011 were $3.8 million compared to $4.1 million in deferred revenues as of September 30, 2011.
  • Cash as of December 31, 2011 was $20.9 million, compared to $13.4 million as of December 31, 2010.
  • Operating cash flow for 2011 was $6.7 million, compared to operating cash flow of $4.3 million in 2010. In the fourth quarter of 2011, operating cash flow was $2.2 million, compared to $0.8 million in the fourth quarter of 2010. During the fourth quarter of 2011, options were exercised for approximately $1.1 million.

 

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