Los Angeles Business Journal

Earnings Send Stamps.com, IPC in Opposite Directions

By Deborah Crowe Friday, October 26, 2012

Shares of Stamps.com Inc. jumped 20 percent on Friday after the online postal services provider reported strong third-quarter results and raised its full-year guidance. But IPC the Hospitalist Co. Inc. saw its shares drop 17 percent after announcing results that were less than expected and providing a more pessimistic outlook.

Stamps.com of El Segundo reported net income of $7 million (42 cents a share), compared with $4.5 million (30 cents) in the same period a year earlier. Revenue rose 17 percent to $29.1 million, with gains in business from enterprise customers, small businesses and customers with high shipping volumes.

Excluding one-time costs, net income was 50 cents a share. Analysts surveyed by FactSet expected adjusted net income of 38 cents a share on revenue of $28.4 million.

For the full year, Stamps.com Inc. now expects adjusted net income of $1.55 to $1.75 a share on revenue of $110 million to $120 million. That’s up from previous guidance of $1.35 to $1.55 a share profit, and $107 million to $117 million in revenue.

IPC of North Hollywood operates hospital-based physician practices in 28 states. It reported 21 percent higher net income of $7.8 million (46 cents), compared with $6.5 million (38 cents) in the same period a year earlier. Revenue rose 12 percent to more than $127 million

The Wall Street consensus was for higher net income of 49 cents a share on revenue of $130 million.

IPC lowered its full-year guidance. The company now expects full-year profit of $1.88 to $1.92 a share, down from $1.96 to $2.06.

In Nasdaq trading, Stamps share closed up $4.40, or 20 percent, to $26.20.

IPC shares closed down $7.07, or 17 percent, to $34.83.