Revenue Down, Income Up for InfoUSA
InfoUSA, the Omaha, NE-based data products and services provider, had second quarter revenue of $70.9 million, down 9% from the $77.7 it saw in second quarter 2000. But the company’s net income rose 60%, from just under $1.4 million to $2.2 million, during the same period. The quarter ended June 30.
In the second quarter of 2000, InfoUSA sold $12.2 million of its common stock, a transaction it did not repeat in the quarter just ended, accounting for much of the revenue falloff.
Among its business units, the Large Customer Group had revenue of $27.4 million, compared with $28.6 million a year ago. Despite this, the unit increased its profitability, which the company attributed to double-digit increases in list management revenue from its Walter Karl business.
Its Small Business Group had revenue of $28.5 million, compared with $32.2 million in second quarter 2000. Revenue for its Internet divisions, which include ListBazaar.com and businessCreditUSA.com “increased sharply, and were highly profitable,” the company said in a statement.
The Database License group had revenue of $7.3 million, down from $8 million, which it attributed to changes in timing and terms of annual customer contracts.
The company also reduced its total indebtedness from $261.4 million in second quarter 2000 to $241.9 million.
