IncrediMail shares jump; Google re-instates company as AdSense Online customer
Shares of IncrediMail Ltd. (NASDAQ:MAIL) rallied Tuesday on heavier than normal volume after the Tel Aviv, Israel-based Internet content and media company said Google has re-instated IncrediMail as an AdSense Online customer.The stock jumped 22% to $4.24 on volume of 85,000. The issue's 30-day average volume is 71,000.Early Monday, IncrediMail said it is cooperating with Google with the goal of resolving any remaining compliance issues. In 2006 and 2007, the company said its search revenue derived from the Google AdSense Online program made a 'significant contribution' to IncrediMail's results.Although recent events will have a negative impact on the company's first-quarter 2008 search-generated revenue, IncrediMail believes that search-generated revenue will continue to be a significant driver of its results.On Jan. 11, IncrediMail received notice from Google that it had decided to stop the Adsense partnership with IncrediMail and therefore was disabling ads to search result pages displayed through the company's account.Greg SaulnierCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.