J2 Shares Drop After-Hours on Earnings

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Shares in J2 Global Communications Inc. wavered after the company reported double-digit growth in sales and profit.


J2 reported net income of $16 million (32 cents per share), a 34 percent jump from $12 million (24 cents) from the same period a year earlier.


Revenues for the Los Angeles-based telecom increased 29 percent to $54 million.


“The key drivers contributing to our [first quarter] revenues and earnings growth were increased usage, the continued rollout of our price change, enhanced patent license revenue from our license agreement with CallWave and international expansion,” Scott Turicchi, J2’s chief financial officer said in a statement.


Shares in J2 closed up 87 cents, or 3 percent, Monday to $30.46, but dipped 94 cents in after-hours trading to $30.46.

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