Stamps.com Raises 2012 Guidance; Shares Climb

Shares of Stamps.com

, the provider of Internet-based postage services, are up by more than 8.5% in after-hours trading after the California-based company raised its full-year profit and revenue guidance. The company said its non-GAAP net income per fully diluted share is expected to be in a range of $1.35 to $1.55 on revenue of $107.5 million to $117.5 million. That compares with prior estimates of $1.25 to $1.45 per shares on revenue of $105 million to $115 million. For the first quarter, Stamps.com reported non-GAAP net income was $5.8 million and non-GAAP net income per fully diluted share was $0.34. Revenue rose 24% to $28.3 million. ""The first quarter of 2012 was a great quarter for us with strong financial performance and a set of new records across several key customer metrics," said Ken McBride, Stamps.com Chairman and CEO, in a statement. "For the first quarter we matched our highest year-over-year growth rate in our core PC Postage revenue at 27%, we grew our total non-GAAP operating income by 70%, and we grew our total non-GAAP earnings per share by 41%." Shares of Stamps.com are up 8.3% this year.