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Growth and Senior Hire for comScore
Online measurement firm comScore has announced financial results for the second quarter of 2009, with revenue, GAAP income before taxes and EBITDA all higher than forecast, at $31.4m, $2.6m and $7.0m respectively.
President and CEO Magid Abraham said the results were pleasing and the company was on track to achieve full year expectations for revenue growth and margins. 'Our overall revenue growth in the quarter was 9% while subscription revenue growth was 14%, both compared to the second quarter of 2008. With healthy renewals among our medium and large customers, we saw renewals within our historical range of 90% or higher on a dollar basis, though we continued to see weaker renewals for our smallest customers, who were particularly affected by the economic downturn, in the second quarter. We continued to successfully grow our revenues from existing customers by over 15% year-over-year. We added 100 new gross customers in the quarter with a net addition of 14.
Abraham also said there had been an enthusiastic response to the company's new hybrid methodology Media Metrix 360, announced on May 31st.
The firm expects Q3 revenue in the range $32.1-33.2m, income before taxes of $2.3-2.8 and adjusted EBITDA of $6.8-7.6m.
Today, comScore announced the appointment of Ellen Marzell as its Senior Director of Marketing Solutions in Europe. She brings more than three decades of experience in media and branded content, most recently as VP of Business Development for In Game Advertising Worldwide (IGA). She worked previously In sales and development at WPP/Global Sportnet, AOL's Advertising.com (Platform A), and the Perform Group, and before this was SVP at IMG Media, setting up and running its global research division, Comperio Research.
comScore says the appointment marks the expansion of its marketing solutions services in EMEA (Europe, the Middle East and Africa). Mike Read, SVP and MD of comScore Europe, says: 'Ellen's track record of identifying new growth areas and custom solutions make her ideally suited to serve comScore's growing customer base and deliver world-class marketing intelligence. We're delighted to have her join the team.'
The company's home page is at www.comscore.com .
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