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Confirmit Reports 82% Q3 Revenue Growth
In the third quarter of the year, MR software firm Confirmit has increased its revenue by 82% to $8.9m, while operating profits were $833,000, 50% higher than in Q3 2006.
Organic revenue growth is 39% while $2.1m of consolidated revenue comes from the acquisition of Pulse Train (www.mrweb.com/drno/news6826.htm and www.mrweb.com/drno/news7045.htm ). Profit before tax for the third quarter was $779,000 compared with $586,000 in Q3 2006.
CEO Henning Hansen commented on the results: 'We are very pleased with our performance, the integration with Pulse Train is progressing as planned and we are optimistic with respect to the future of the combined entity.'
While Confirmit and Pulse Train products are already being sold jointly, the firm says that the ultimate customer value will derive from a fully integrated platform which will be rolled out in the next few years.
The firm went public in December 2005, and as of September 28 2007, it had issued a total of 20,270,314 shares owned by 266 shareholders, with foreign investors holding 45.5% of stock. Confirmit has more than 200 employees at its headquarters in Oslo and offices in Guildford, London, Moscow, New York, San Francisco, and Yaroslavl. Its home page is at www.confirmit.com.
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