SMTP (SMTP) Tops Q2 EPS by 1c; Announces $9M Common Stock Offering

SMTP (NASDAQ: SMTP) reported Q2 EPS of $0.00, $0.01 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $3.6 million versus the consensus estimate of $3.41 million.

SMTP announced that it intends to offer $9.0 million worth of common stock in an underwritten public offering, subject to market and other conditions. Of the $9.0 million worth of common stock to be sold in the offering, $4.5 million will be sold by the Company and $4.5 million will be sold by Semyon Dukach, Chair of the Company's Board of Directors (the "Selling Stockholder"). In addition, the Selling Stockholder intends to grant the underwriter an option to purchase additional shares equal to up to 15% of the aggregate number of shares to be sold in the offering.

SMTP intends to use the net proceeds from the offering, if completed, primarily for working capital and general corporate purposes. The Company will not receive any proceeds from the sale of any shares by the Selling Stockholder.

Craig-Hallum Capital Group LLC is acting as sole managing underwriter for the offering.

For earnings history and earnings-related data on SMTP (SMTP) click here.

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