– Achieves Record First Quarter Revenues & Raises Full Year 2019 Estimates
– Announces Adjustment to Dividend Policy to Accelerate Growth

LOS ANGELES, CA – May 7, 2019 — /BackupReview.info/ — j2 Global, Inc. (NASDAQ: JCOM) today reported financial results for the first quarter ended March 31, 2019; increased its revenue, Adjusted EBITDA and Adjusted Non-GAAP earnings per diluted share estimates for the year. j2 also announced that its Board of Directors has approved a dividend to be paid on June 4, 2019, and, based on the Board’s view of the strength and prospects of investment opportunities across the Company, has decided to suspend dividend payments following the June 4, 2019 dividend t — o retain and redirect that cash flow to enhance the growth of our various businesses.

“Our portfolio of businesses – and the leadership managing it – has never been stronger or deeper,” said Vivek Shah, CEO of j2 Global. “It’s reflected in our first quarter results, our improved outlook for the remainder of the year and the breadth of promising investment opportunities in front of us. It’s why we are confident that by suspending our dividend, we can prudently direct the increasing cash flow to opportunities within our businesses to create greater shareholder returns over the near, medium and long term.”

FIRST QUARTER 2019 RESULTS
Q1 2019 quarterly revenues increased 6.9% to a first quarter record of $299.9 million compared to $280.6 million for Q1 2018.

Net cash provided by operating activities increased to $116.9 million compared to $103.9 million for Q1 2018. Q1 2019 free cash flow(1) increased 15.0% to $104.3 million compared to $90.7 million for Q1 2018.

GAAP earnings per diluted share(2) increased 73.7% to $0.66 in Q1 2019 compared to $0.38 for Q1 2018.

Adjusted non-GAAP earnings per diluted share(2)(3) for the quarter increased 14.8% to $1.40 compared to $1.22 for Q1 2018.

GAAP net income increased by 71.4% to $32.4 million compared to $18.9 million for Q1 2018.

Quarterly Adjusted EBITDA(4) increased 10.9% to $113.9 million compared to $102.7 million for Q1 2018.

j2 ended the quarter with approximately $320 million in cash and investments after deploying approximately $82 million during the quarter for acquisitions and j2’s regular quarterly dividend.

Key financial results for Q1 2019 versus Q1 2018 are set forth in the following table (in millions, except per share amounts). Reconciliations of Adjusted non-GAAP earnings per diluted share, Adjusted EBITDA and free cash flow to their nearest comparable GAAP financial measures are attached to this Press Release.

For detailed financial reports, visit: http://investor.j2global.com/file/Index?KeyFile=397838966

Contact
Scott Turicchi
j2 Global, Inc.
800-577-1790
press@j2.com

Source: j2 Global, Inc.

 

 

 

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