Creditcards.com Inc., an Austin credit card lead generator, is planning to go public.
In a prospectus filed with the Securities Exchange Commission on Friday, the company said that its revenue rose almost 90% last year, to $22 million, and that its net income rose 69%, to $9.8 million. However, in the first half of this year its net income declined more than 70% from a year earlier, to $2.7 million.
Creditcards.com, which offers credit card issuers leads on potential customers and receives a fee for completed applications, did not say how many shares it plans to sell or when it expects them to be available. It said it plans to use the funds for general corporate purposes.
The company's strategies for growth include increasing traffic to its web site, raising the number of applications filed, and evaluating new geographic markets. it said that risks include failing to convert visitors and a decline in demand for credit cards.
Credit Suisse Group, Citigroup Inc., and Thomas Weisel Partners LLC are underwriting the offering.
