Record Revenues for ORC

Opinion Research Corporation (ORC) has just released the detail of its record revenues and net income for the first quarter of 2001. Revenues stood at US$46 million for the period, representing an increase of 18% year on year (US$39 million for the first quarter 2000).

In summary, the performance breakdown shows a net income for the company’s first quarter of US$1.1 million, an increase of 36% compared to first quarter 2000 net income of US$784,000. Operating income for the quarter was US$3.4 million, an increase of 21% compared to US$2.8 million last year. EBITDA (earnings before interest, taxes, depreciation and amortization) was US$5.4 million, an increase of 21% compared to US$4.5 million in the previous year. Cash earnings per share (net income plus goodwill amortization expense after-tax) for the first quarter were US$.28, an increase of 12% compared to US$.25 last year.

John F. Short, chairman and chief executive officer of Opinion Research Corporation, said, "I am very pleased to report that we are starting off another year with record results on both the top and bottom line. For the balance of the year, it is our expectation that an intensified marketing and business development effort initiated over the last several quarters should enable us to achieve our financial objectives despite what is a difficult business environment."