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United Online's revenue up 47% in fourth quarter

WESTLAKE VILLAGE -- United Online's faster service drove the Internet service provider's fourth-quarter revenues up 47 percent, the company reported Wednesday.

United Online, which operates Juno and NetZero, saw revenues climb to $96.9 million from $65.9 million in the same period a year ago. Net income more than doubled, rising to $12.1 million, 18 cents per share, from $4.7 million, 7 cents per share, in the fourth quarter of 2002. The most recent period's results exclude a tax benefit of $12.3 million, which would push earnings to $24.4 million, 35 cents per share.

"We're really cooking on all cylinders," said Mark Goldston, United's chairman, president and chief executive officer.

For the full year, United's revenues hit $339.2 million, with net income of $54.9 million, 80 cents per share. This compared favorably with 2002, when it had sales of $229.2 million, with income of $16.6 million, 24 cents per share.

In the period, United added 226,000 new subscribers to its accelerated dial-up plans, which analysts suggest will be a major growth area in the future. Already, the plans account for 22 percent of its 2.9 million pay subscribers, and Goldston doesn't plan on backing off from his aggressive marketing of the service.