New York / London / Oslo - April 17, 2008: Confirmit (OSE:Conf), the world's leading provider of software for Market Research (MR) and Enterprise Feedback Management (EFM), increased revenue in the first quarter of 2008 by 76% to USD 11.4 million. EBIT for the first quarter totalled USD 1.3 million, an increase of 111% compared to the corresponding quarter of 2007.
Commenting on the results, Confirmit’s CEO, Henning Hansen stated;
"We delivered another outstanding quarter highlighted by strong revenue growth, record revenue from new clients, improved profitability, and the successful completion of the integration of Pulse Train Ltd. All of our offices have exceeded the performance expectations we had for this quarter and we are very pleased to see the outstanding effort applied in supporting and selling to the largest companies in the world. As the software market for MR and EFM continues to evolve, combined with the investments we are doing in our software, we are well positioned as the number one vendor. ”
- 76% revenue growth
- 31% proforma revenue growth
- Record revenue from new clients
- 11% EBIT margin
- USD 2.6 million positive cash flow from operations
- Confirmit Q1 2008 report
- Henning Hansen, CEO, +47 908 81192
- Ken Østreng, CFO, +47 911 51686
Confirmit is the world's leading provider of software for Market Research (MR) and Enterprise Feedback Management (EFM). The company has more than 200 employees and offices in Oslo (headquarters), Guildford, London, Moscow, New York, San Francisco, and Yaroslavl. Confirmit's software is also distributed through partner resellers in Amsterdam, Sydney and Tokyo. Confirmit became a public company in December 2005, and is listed on Oslo Stock Exchange under the ticker "CONF".
Confirmit targets Global 5000 companies and Market Research agencies worldwide with a wide range of software products for feedback / data collection, panel management, data processing, analysis, and reporting. Customers include British Airways, Countrywide Financial, Dow Chemical, Experian, GlaxoSmithKline, Halifax Bank of Scotland, Hewlett Packard, Intrawest, Ipsos, Nielsen, The NPD Group, Safeco Insurance, Statoil, Symantec and Virgin Media.
For more information, please visit www.confirmit.com.
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