Craters After 2019 Profit Outlook Is Slashed

World News: . [] Craters After 2019 Profit Outlook Is SlashedThe 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.

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