Shares of Israeli Internet company, IncrediMail Ltd. (Nasdaq: MAIL) were up nearly 14 percent after the company announced a two-year renewal of their contract with Google for use of the search company’s advertising network, AdSense.
IncrediMail, which designs high end personal desktop software, has been using AdSense since 2006, enabling it to share advertising revenue generated from users clicking on links sponsored by Google. The recent announcement gives IncrediMail the right to use AdSense for another two years, enabling it to share advertisign revenue generated from users clicking on links sponsored by Google.
IncrediMail reported in May that about 70 percent of its revenue was generated from its search business model, which includes multiple search engines.
This renewal reflects the positive relationship established between our companies and a relationship that has allowed IncrediMail to continue to perform well,” said IncrediMail CEO, Ofer Adler in a statement.
IncrediMail has roughly $27.6 million in the bank, and generated earnings of $6.5 million on revenue of $23.5 million for the trailing 12-month period. The company has an operating margin of nearly 17 percent.