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Please note the addition of financial tables at the end of the release.
The corrected release reads:
J2 REPORTS RECORD Q2 2013 RESULTS; CLOUD, MEDIA AND INTELLECTUAL PROPERTY BUSINESSES GENERATE STRONG RETURNSAnnounces Eighth Consecutive Quarterly Dividend Increase
j2 Global, Inc. (NASDAQGS:JCOM) today reported financial results for the second quarter ended June 30, 2013, and announced that its Board of Directors has declared an increased quarterly cash dividend of $0.2475 per share.
Record Quarter revenues of $141.4 million (58% increase versus Q2 2012)
Record Quarterly Free Cash Flow(4) of $66.2 million (45.2% increase versus Q2 2012)
Record Quarterly EBITDA(3) of $66.4 million (39.8% increase versus Q2 2012)
Record Quarterly Non-GAAP Earnings Per Diluted Share(1) (2) of $0.83 (18.6% increase versus Q2 2012)
Record Quarterly Earnings Per Diluted Share of $0.77 (14.9% increase versus Q2 2012)
Record Quarterly Low Cancel Rate(5) of 2.21% (versus 2.3% for Q2 2012)
SECOND QUARTER 2013 RESULTS
Quarterly revenues increased 58% to a record $141.4 million compared to $89.5 million for Q2 2012. Exclusive of the impact of a single $27 million patent license agreement secured during the quarter
(6), $12.6 million of which was immediately recognized as revenue during the quarter as allocable to past damages, quarterly revenues increased 43.9% to $128.8 million, which is also a record. Exclusive of the single patent license, these results were driven primarily by our entry into the digital media space during Q4 2012, 43% revenue growth in our digital media business since Q1 2013 and 7.5% growth in our Business Cloud Services versus the year ago quarter.
Earnings per diluted share for the quarter increased 14.9% to a record $0.77 compared to $0.67 for Q2 2012. Non GAAP earnings per diluted share
(1)(2) for the quarter increased 18.6% to a record $0.83 compared to $0.70 for Q2 2012. j2 achieved these record results even though quarterly earnings per diluted share were impacted by $0.08 of interest expense not present in Q2 2012, $0.03 of Digital Media segment non-cash amortization expense and $0.02 of integration expense associated with j2’s acquisition of IGN Entertainment, Inc. (which integration expense is already excluded from the Non-GAAP results presented).
(3) increased 39.8% to a record $66.4 million compared to $47.5 million for Q2 2012.
Free cash flow
(4) for the quarter increased 45.2% to a record $66.2 million compared to $45.6 million for Q2 2012. Free cash flow for the six months ended June 30, 2013 increased 25.1% to a record $104.6 million compared to $83.6 million for the six months ended June 30, 2012.
(5) for the quarter was a record low 2.21% versus 2.3% for Q2 2012.
Net paid DIDs grew by approximately 34,000 during the quarter, and at quarter-end total net paid DIDs deployed reached an all-time high of 2.19 million.