World News: 15:04 GMT Thursday 9th May 2019. [Yahoo Business News Feed via SPi World News]
The company, which makes software that lets customers print postage for U.S. mail, had set its earnings forecast for the year in February, when it reported fourth-quarter results and also said it had ended the USPS partnership. Stamps said the lowered guidance mainly reflected potential unfavorable short- and long term amendments, re-negotiations and termination of certain contracts between the USPS and the company’s partners who are part of the USPS’s reseller program. “It appears the USPS is now negotiating with multiple resellers for lower rates, which would negatively impact Stamps’ reseller revenues,” Northland Capital Markets analyst Tim Klasell wrote in a note to clients.
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.