Mail.com Inc., New York, a leading provider of Internet messaging services to the business and consumer markets, has reported a 510 percent increase in fourth quarter revenues. For the period ending Dec. 31, revenues jumped to $6.1 million from $1 million for the same quarter the previous year. Revenue for the fourth quarter increased 83 percent over 1999 third-quarter revenue of $3.4 million. The company also reported that it achieved positive gross margins in the fourth quarter of 1999, which is one quarter ahead of analyst consensus projections.
The company attributed the revenue growth in part to its continued expansion into the business messaging market. Business messaging revenues represented approximately 20 percent of total fourth-quarter revenue. Mail.com chairman/CEO Gerald Gorman said in a statement, “1999 was an outstanding success in many respects. Advertisers and e-commerce participants have quickly recognized the unique capabilities we bring to their business. As a consequence, revenue from these sources has grown organically over 500 percent in just three quarters.”
