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BUSINESS
March 18, 2013
The company: Stamps.com Inc. Headquarters: El Segundo Ticker: STMP Employees: 240 Leadership: Ken McBride, chief executive since 2001 2012 revenue: $115.7 million 2012 net income: $38.6 million Stock price: $25.30 at Friday's close 52-week range: $18.62 to $32.49 P/E ratio: 13.68, based on 2013 earnings estimate Annual dividend: none
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BUSINESS
March 18, 2013
The company: Stamps.com Inc. Headquarters: El Segundo Ticker: STMP Employees: 240 Leadership: Ken McBride, chief executive since 2001 2012 revenue: $115.7 million 2012 net income: $38.6 million Stock price: $25.30 at Friday's close 52-week range: $18.62 to $32.49 P/E ratio: 13.68, based on 2013 earnings estimate Annual dividend: none
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BUSINESS
March 18, 2013 | By Stuart Pfeifer, Los Angeles Times
Stamps.com Inc. was typical of many companies that imploded during the dot-com crash more than a decade ago. Flush with start-up cash, it spent recklessly on employees, sprawling office space and acquisitions. Workers raced through the company's 90,000-square-foot Santa Monica headquarters on Razor scooters, ate catered meals and tracked the company's stock price with visions of riches. Executives spoke of a day when everyone would print their own postage - and pay Stamps.com a monthly fee for the opportunity.
BUSINESS
March 18, 2013 | By Stuart Pfeifer, Los Angeles Times
Stamps.com Inc. was typical of many companies that imploded during the dot-com crash more than a decade ago. Flush with start-up cash, it spent recklessly on employees, sprawling office space and acquisitions. Workers raced through the company's 90,000-square-foot Santa Monica headquarters on Razor scooters, ate catered meals and tracked the company's stock price with visions of riches. Executives spoke of a day when everyone would print their own postage - and pay Stamps.com a monthly fee for the opportunity.
BUSINESS
March 11, 2002 | CHRISTINE FREY, TIMES STAFF WRITER
Since going public in 1999, Stamps.com has fired nearly 90% of its staff, burned through more than $200 million and hired its third chief executive. But after more than a year of restructuring, the online postage service hasn't been licked. Among the Internet's first high-profile start-ups, Stamps.com was also among the first dot-coms to go public, watch its stock rise and fall dramatically and lay off hundreds of employees in what became a familiar cycle of boom and bust.
BUSINESS
June 21, 1999 | KAREN KAPLAN, TIMES STAFF WRITER
Plenty of Internet companies have staged successful initial public offerings despite a glaring lack of profits. This month, Internet postage retailer Stamps.com plans to go public despite a complete lack of revenue. The Santa Monica firm has not taken in a cent since it was founded by three UCLA business school students in 1996--and won't at least until the U.S. Postal Service approves its system. To get there, Stamps.
BUSINESS
February 8, 2001 | Reuters
Stamps.com said it will slash 150 jobs to streamline operations and achieve profitability. The job cuts will take place across all its locations, including Bellevue, Wash., and its Santa Monica headquarters, the company said. Chief Executive Bruce Coleman said the company will continue to focus on building its core Internet postage business. The company's flagship product, iMail, lets users purchase stamps online from its Postage Server and print stamps directly onto envelopes and labels.
BUSINESS
December 20, 1999 | KAREN KAPLAN
Santa Monica-based Stamps.com is expected to announce a flurry of partnerships today aimed at increasing its reach among its customer base of small businesses and home office workers. The deals, with at least 10 companies, will allow the online postage company to reach millions of potential new customers, said Chris Hylen, Stamps.com's senior vice president of marketing. The new partners include small-business Web sites AllBusiness.com, allbizdepot.com and inc.
BUSINESS
September 1, 2001 | Reuters
Stamps.com Inc. became the latest victim of the dot-com shakeout, saying it cut its staff by 25%, or 24 people, as it struggles to achieve profitability. Stamps.com also said it had replaced its interim president and chief executive, Bruce Coleman. The company's chief financial officer, Ken McBride, will assume those positions. Stamps.com shares rose 12 cents to close at $2.42 on Nasdaq.
BUSINESS
October 26, 1999 | Bloomberg News
Stamps.com Inc. of Santa Monica agreed to buy closely held IShip.com of Bellevue, Wash., for about $305 million in stock to create a one-stop Internet mailing and shipping company. Stamps.com is one of two companies with a U.S. Postal Service license that allows customers to buy and print postage on the Internet. The deal will in effect double Stamps.com's market potential. IShip.com allows customers to compare the prices of various shipping services, including that of the U.S. Postal Service.
BUSINESS
October 20, 2006 | From the Associated Press
Stamps.com Inc., the Playa Vista company that sells postage over the Internet, said third-quarter profit jumped 66% on a 24% increase in revenue. But the company issued projections for the current year and next that were below Wall Street forecasts, sending shares down $1.66, or 8.7%, to $17.50 in after-hours trading. Stamps.com earned $4.3 million, or 18 cents a share, compared with $2.6 million, or 11 cents, for the same quarter in 2005.
BUSINESS
February 9, 2006 | From Bloomberg News
Stamps.com Inc., which sells postage over the Internet, said Wednesday that its fourth-quarter earnings nearly tripled as sales of customer-designed stamps soared. The Los Angeles-based company's shares rose 23%. Net income increased to $4.1 million, or 17 cents a share, from $1.46 million, or 6 cents, a year earlier. Sales increased 76% to $20.6 million. Revenue from customer-designed stamps was $6 million, up from $947,000. Stamps.com's shares jumped $5.82 to $30.99.
BUSINESS
September 30, 2004 | From Bloomberg
Stamps.com Inc., which sells postage stamps over the Internet, said the U.S. Postal Service had asked it to suspend its trial PhotoStamps program for evaluation. Stamps.com will stop taking orders Friday for PhotoStamps, which allow customers to turn their photographs into postage stamps, the Santa Monica-based company said. The Postal Service will decide within 90 days whether to allow the program to continue, the company said. Trading was halted before the announcement.
BUSINESS
March 25, 2004 | Michael Hiltzik
When I heard that Stamps.com Inc. would be among the companies making presentations at the recent Montgomery & Co. technology conference, it was like discovering that some old entertainer you'd forgotten about actually has been playing Vegas for years: He's not dead; he has just been hiding out in another world. Stamps.com wouldn't have been high on anybody's list of likely survivors of the dot-com crash. Part of the IPO class of 1999, which also included such ghosts of Nasdaq past as EToys Inc.
BUSINESS
December 23, 2003 | From Times Wire Services
Mail metering company Pitney Bowes Inc. and Web postage service Stamps.com Inc. on Monday said they had settled four years of litigation over technology patents for buying and printing postage via the Internet. The companies said the settlement included a five-year agreement under which each firm would license certain of the other's patents. Stamford, Conn.-based Pitney and Stamps.com of Santa Monica said there would be "no material financial payment" between them.
BUSINESS
December 5, 2002 | Glenda McCarthy, Times Staff Writer
Postage meter giant Pitney Bowes Inc. on Wednesday sued rival Stamps.com Inc. in a new clash over patents between the companies. Pitney Bowes, in a suit filed in U.S. District Court in Delaware, claims that Santa Monica-based Stamps.com's new NetStamps product infringes on four of its patents. NetStamps allows customers to print a sheet of postage of any denomination onto adhesive labels. "Our main goal here is to settle this matter and reach a licensing agreement with Stamps.
BUSINESS
September 30, 2004 | From Bloomberg
Stamps.com Inc., which sells postage stamps over the Internet, said the U.S. Postal Service had asked it to suspend its trial PhotoStamps program for evaluation. Stamps.com will stop taking orders Friday for PhotoStamps, which allow customers to turn their photographs into postage stamps, the Santa Monica-based company said. The Postal Service will decide within 90 days whether to allow the program to continue, the company said. Trading was halted before the announcement.
BUSINESS
September 19, 2000 | Bloomberg News
Pitney Bowes Inc. said it filed a lawsuit against rival Stamps.com Inc. for infringing four patents on processes that let consumers track and compare shipping-rate information using the Internet. Pitney, the largest maker of postage meters, filed the suit in the U.S. District Court in the Eastern District of Texas. The companies each sell postage services online, including the ability to compare rates for different freight carriers and to track packages and parcels. Stamps.
BUSINESS
March 11, 2002 | CHRISTINE FREY, TIMES STAFF WRITER
Since going public in 1999, Stamps.com has fired nearly 90% of its staff, burned through more than $200 million and hired its third chief executive. But after more than a year of restructuring, the online postage service hasn't been licked. Among the Internet's first high-profile start-ups, Stamps.com was also among the first dot-coms to go public, watch its stock rise and fall dramatically and lay off hundreds of employees in what became a familiar cycle of boom and bust.
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