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Opinion Research Reports Q3 Loss
Opinion Research Corporation has reported a net income loss of $4.65m for the third quarter of 2005. Revenues fell from $48.9m in the third quarter of 2004 to $48.7m in Q3 2005, although the company's social research division saw revenues rise slightly.
Social research revenues rose from $32.7m to $34.1m, and new bookings for this sector were 50% higher in the first nine months of 2005 than in the same period of 2004. Meanwhile, market research revenue for the firm fell to $12.9m from $13m, and teleservices revenue dropped from $3.2m to $1.8m.
For the first nine months of 2005, revenues were slightly higher than in the same period last year: $149.4m compared with $146.3m.
The loss in income includes an impairment provision for the remaining goodwill in the teleservices segment, the previously announced write-off of expenses incurred in a postponed equity offering, and a tax accrual adjustment due to a change in the estimated annual tax rate. The company says that, together, these factors reduced net income by approximately $5m.
Opinion Research Chairman and CEO, John Short, says the company is pleased with the performance of the social research business. Admitting disappointment in the 'slow turnaround in market research and continued decline in teleservices', he says the company has 'taken the appropriate action to improve these businesses'.
The Company expects total revenues for 2005 to be around $198 to $200 million, and net loss to be between $2.6 and $2.8 million.
The company is online at www.opinionresearch.com.
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