Being a Google partner in a period when GOOG is being dumped by thoe worrying about its future in China may be why Incredimail has suffered at last count an 18% price drop today. The conference call has just begun with the Israel based company but I have put in an order for more MAIL shares at $6.56.
Here’s why. Sales in 2009 rose a more 24%. Net profit came in at $8 mn vs 4.4 mn in 2008. EPs was 84 cntes compared to 46 cents. The Israeli firm EBITDA as a proportion of sales rose to 47%, 5x prior year level.
Further good news is that MAIL expects to match Q4 09 sales in the current quarter.
A couple of years ago there was a flubbed linkup with GOOG and MAIL lost much business with its revenue share deal for ad revenues in return for feeding search to GOOG.
