STAMPS.COM CHIEF FINANCIAL OFFICER KYLE HUEBNER NAMED “CFO OF THE YEAR”
LOS ANGELES – Sept. 17, 2009 – Stamps.com® (Nasdaq:STMP), the leading provider of postage online and shipping software solutions to approximately 400,000 customers, today announced that its Chief Financial Officer Kyle Huebner was named “CFO of the Year” by the Los Angeles Business Journal during its 2009 awards program.
Kyle Huebner joined Stamps.com in 1999 and has been chief financial officer since 2004. During his tenure as CFO, the company increased revenue from $21 million in 2003 to $85 million in 2008 and improved profitability from a loss of $9.3 million in 2003 to a net profit of $10 million in 2008. In addition, the company is in a very strong financial position with a balance sheet that includes $70 million of cash and investments and no debt, and excellent free cash flow generation with approximately $13 million free cash flow in 2008 and $60 million since 2004.
“Kyle’s leadership as our chief financial officer has been instrumental to our growth, profitability and our current strong financial position,” said Stamps.com Chief Executive Officer Ken McBride. “He has made lasting contributions to our success and we congratulate him on achieving this significant honor from the Los Angeles Business Journal.”
The Los Angeles Business Journal CFO of the Year awards is presented annually to financial professionals in the Los Angeles area for exceptional performance in their roles as corporate financial stewards. This program recognizes the overwhelming contribution that financial executives make to businesses and to the overall economy in the region. Huebner was honored in the “Small Public Company” category.
Stamps.com (Nasdaq: STMP) is a leading provider of Internet-based postage services. Stamps.com’s service enables small businesses, enterprises, advanced shippers, and consumers to print U.S. Postal Service-approved postage with just a PC, printer and Internet connection, right from their home or office. The Company currently has PC Postage partnerships with Avery Dennison, Microsoft, HP, the U.S. Postal Service and others.
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