The Internet economy is in recovery, with major applications company, Macromedia, announcing a 58 per cent hike in its net income last night.

Announcing its second quarter 2005 financial results, the company said it enjoyed the 58 per cent net income increase on just 20 per cent year-on-year revenue growth.

Net revenues reached $107.9 million, up from $89.9 million in the same period last year, for a net income per share of 21 cents. Net income hit $15.5 million, compared to $9.8 million in the year-ago quarter.

Macromedia CEO, Rob Burgess, stressed the company's focus on creating experience: "What is driving our success is the work that our customers are doing, which has never been better. The technology has evolved, the methodologies have matured, and people around the world are realizing that experiences really do matter."

Looking forward, the company expects the quarter ending December 31, 2004 to remain on course, with net revenues in the range of $105 to $110 million.