Digital River Inc, the leading provider of e-commerce business solutions and applications released its financial report and results for the first quarter of the year 2010 and the results have by far satisfied and in some places exceeded the claims and forecast of the management.
In comparison with the quarter 1 results of the year 2009 where the company grossed the GAAP revenue of $102.9 million, this year the company could earn only a GAAP revenue of $98.7 million. Nevertheless, the revenue figure still satisfies the management forecast as it was between $95 - $98 million.
The first quarter GAAP net income was $7million which indicated a price of $0.18 per diluted share. This was again low in comparison to the 2009 Quarter 1 GAAP net income which was $13.3 million. The management at large is happy with the results and at a conference today at 4.45 PM, it will discuss the major sections and analysis of the quarter 1 financial results and also set out the strategies for the quarter 2. Last year the Minneapolis company had lost a major customer and at the October general meeting had assured its shareholder to make up for the loss in revenue by aligning the cost structure with the revenue opportunities.
The company Digital River was formed in the year 1994 and since then has been a leading provider of e-commerce, ERP, publishing etc services to a majority of businesses over the world.
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