Harris Reports 'Flat' Fiscal First Quarter

Harris Interactive has reported 'flat' first quarter fiscal 2014 results, with revenue down 1.9% to $32.4m, from $33m in the prior year period, driven by declines in the US and German operations, offset by results in Canada, France and the UK.

During the period, operating income fell 28% to $1.3m from $1.8m in the last fiscal first quarter, while net income was $1.3m compared with $1.7m a year earlier.

For the three months to 30th September, non-GAAP adjusted EBITDA with restructuring and other charges added back, was $2.8m compared with $3.5m in the prior year period. President & CEO Al Angrisani (pictured) explained that this lower figure had been driven by two factors: a 'technological investment' to upgrade its Canadian phone center, and higher than normal data collection cost, primarily with projects fielded for clients of its European operations.

CFO Eric Narowski said that based on current market conditions and forecasts for the fiscal year ending June 30, 2014, the company is reaffirming its previously issued fiscal 2014 adjusted EBITDA guidance of between $14.5m and $16.5m.

Web site: www.harrisinteractive.com .