comScore Secures $50m Credit Line

Online audience measurement specialist comScore has signed a $50m 'revolving credit' deal with the Bank of America, which it plans to use for working capital and general corporate purposes.

According to an SEC filing, signed by comScore's Chief Financial Officer Kenneth Tarpey (pictured), the two-year deal also includes a $10m sublimit to support letters of credit.

The firm will only pay monthly interest on the agreement, with outstanding monies and interest payable at maturity.

In May, comScore reported a huge increase in revenue for the first quarter - up 47% to $53.0m versus the previous year - but turned a small profit into a small loss as a result of a rise in expenses.

The company is anticipating full-year revenue growth of between 35% and 37% over 2010, and a pre-tax loss of as much as $5.8m.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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