Harris Figures Show Gradual Improvement

Harris Interactive has announced revenue up 2% at constant currencies to $44.9m, along with a small profit, for the second quarter of its fiscal year 2011.

Non-GAAP adjusted EBITDA rose from $3.2m to $3.7m year-on-year. Net income of $300,000 was down from $1.3m in the year-earlier period, although the old figure was mostly the result of a $1.1m tax benefit resulting from a change in the law. Operating income rose almost fifty per cent to $900,000, while bookings were up from $53.2m to $55.3m, a rise of 4% at constant currency, and secured revenue (formerly referred to as backlog) jumped 9% to $55.4 m.

Although investors appeared unimpressed - Harris shares fell around 16 cents to $1.20 on Friday on the news' release - President and CEO Kimberly Till says the company had made progress in stabilizing, and is developing new products and solutions that leverage technology and will provide it with new revenue streams.

Till believes Harris has made good progress in the US and seen good performances from Canada, Germany, France and Asia. In the UK, as reported on Friday, the loss of a large tracking study has contributed to a tough year and required a restructure.

Till says that 'substantial improvements' in product, pricing, work processes, platforms, financial stability and talent over the past two years will take time to have an effect on results but leave the company in 'the strongest position since we began the turnaround.'

Web site: www.harrisinteractive.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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