Infospace profits down by 20 per cent

Infospace has published its fourth quarter financial report, revealing a drop in profits of more than 20 per cent but a rise in mobile revenues.

Profits for the quarter stood at just over EUR 23 million, down from EUR 30 million a year previously. Overall revenues rose slightly from EUR 66.4 million to 68.6 million.

Mobile revenues were up by 12 per cent to reach EUR 36.5 million, while gross profit totalled EUR 14.4 million. For the full year revenues stood at EUR 142 million - an increase of EUR 21 million - while gross profits reached EUR 56.2 million.

Overall, 2006 revenues totalled just under EUR 285 million, up by 9 per cent from 2005. The company made a net loss of EUR 9.75 million. During the year, the company received a EUR 25 million tax benefit, paid EUR 12.9 million in stock-based compensation costs and EUR 47.8 million in restructuring costs.