NetCreations Posts Strong 1Q Earnings
For the first quarter ended March 31, 2000, NetCreations generated net revenues of $14.4 million, a $4 million increase over fourth quarter 1999 revenues and a more than $12 million rise over the year-ago first quarter.
News of the firm's performance contributed to a spike in NetCreations' trading price. Its shares opened Wednesday at $29 per share and rose 37 percent by midday to $34 5/8 per share. However, the shares have yet to approach the company's all-time high of $69 3/4 per share.
Rosalind Resnick, NetCreations chairwoman/CEO, attributed much of the company's performance to the expansion of its e-mail lists. She said it added an average of 20,000 e-mail names per day to its database during the first half of the quarter and approximately 30,000 names per day throughout the second half.
NetCreations ended the quarter with a total of 7.7 million e-mail addresses in its database.