29 July 2011

Ancestry.com 2nd quarter results

Tim Sullivan, CEO of leading genealogy company Ancestry.com release the company's financial report for the second quarter on Thursday.

Total revenues for the quarter were $101 million, up from $74 million a year earlier. Net income per share, fully diluted, was $0.33, up from $0.18 a year earlier.

There were 1,672,319 subscribers at the end of June, up from 1,310,562 at the end of June 2010. The number of subscribers continues to grow quarter on quarter. however the monthly churn, reflecting terminations of subscriptions, rebounded to 4.6% which is the highest in five quarters.

Company forecasts were for subscribers to number in the range 1,710,000 to 1,730,000 by the end of the 2011.
There were no announcements of major new databases, although the U.S. World War II Navy Muster Rolls, 1938-1949, updated on Thursday, were mentioned.

Read the Ancestry press release at http://goo.gl/v2X59
The stock declined in after-hours trading, reportedly on anticipation that growth in the number of subscribers would not meet previous expectations.

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