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November 4, 2010

iMergent Q3 revenue down 18%

Net loss $0.01 loss per diluted share

By CBR Staff Writer

iMergent, a provider of eCommerce software, site development, web hosting and search engine optimisation, has posted revenue of $14.3m for the third quarter of 2010, a decrease of 18% compared to $17.4m for the same quarter of 2009.

The company has reported an operating loss of $1.9m for the third quarter of 2010 as compared to an operating loss of $0.2m for the same period last year.

For the third quarter ended 30 September 2010, the company’s net loss was $0.08m, or $0.01 loss per diluted share, compared to a net income of $0.70m, or $0.06 per diluted share, for the same period in 2009.

iMergent chief executive officer Steven Mihaylom said they were able to transition the majority of their sales to the SaaS model (Software-as-a-Service) during the quarter from a software license model.

"Additionally, during the quarter we experienced a brief decline in the response rate to our direct mail advertising which adversely affected us this quarter," Mihaylom said.

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