Commtouch Software Ltd. (Nasdaq: CTCH) today published its financial report for the second quarter of 2009. The messaging and Web security technology provider posted $3.7 million revenue for the second quarter, 5% more than the $3.6 million revenue for the corresponding quarter of 2008.
Operating profit rose 33.8% to $684,000 for the second quarter from $511.000 for the corresponding quarter.
GAAP-based net profit rose 19.6% to $696,000 ($0.03 per share) for the second quarter from $582,000 for the corresponding quarter. Non-GAAP net profit rose 9.5% to $1 million ($0.04 per share) from $938,000 for the corresponding quarter. The non-GAAP figure excludes $331,000 in stock-based compensation expenses.
Operating cash flow rose to $773,000 for the second quarter from $591,000 for the corresponding quarter. The company made a $477,000 follow-on investment in Mirapoint, a secure messaging and archiving vendor and an OEM licensee, bringing the total investment to $1.2 million.
Commtouch reiterated its full-year guidance of a non-GAAP net profit of $4 million on $15-16 million revenue.
Commtouch chairman and CEO Gideon Mantel said, "Looking ahead, our improving results plus the growing sales of our new Web security product indicate that the next quarter will be even stronger.”
Commtouch's share rose 7.6% at the opening on Nasdaq today to $2.68, giving a market cap of $67 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2009
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