Harris Interactive has announced its financial results for the fiscal first quarter ended September 30, 2005. Revenue for the quarter (classed as Q1 2006) was $48.9m, up 24% from $39.3m in the same period last year. This was in part due to the acquisition of Wirthlin Worldwide. Growth in European Internet research revenue was particularly strong at 29%.
President and CEO Gregory T. Novak said the quarter had exceeded expectations due to 'stronger than anticipated revenue, combined with some early traction from our margin-building activities'. Novak says he is optimistic that the company can achieve 'higher levels of top-line growth that, when balanced with the right productivity improvement efforts, will deliver more profitable growth to our stockholders'.
Total US revenue increased by 26% to $37.1m, and European revenue grew by 21% to $11.8m. Global Internet revenue for the quarter was $28m - up 16% from the same period a year ago. US Internet revenue, which grew by 14% to $24.8m, contributed most to the global Internet revenue growth. Internet revenue comprised 57% of total revenue, 67% of the US revenue, and 27% of the European revenue.
The operating margin of 4.1% and $0.02 EPS exceeded expectations, and operating income for Q1 2006 was $2m, or 4.1% of revenue - down 25% from the previous year. Net income for the quarter was $1.2m, or $0.02 per diluted share (these figures were $1.7m and $0.03 respectively for Q1 2005, which included Wirthlin from Sept 8th onwards).
Sales bookings for the quarter were up 41% to $45.0m, with Wirthlin now included. For the full fiscal year 2006, the company still expects revenue in the range $210 to $220m, and earnings of between $0.11 and $0.14 per fully diluted share. Harris Interactive's web site is at 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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