Worldwide market research firm, Harris Interactive, has announced that sales booking have reached a record high for quarter three and revenues have increased by 10% to $35.4 million.
Worldwide sales bookings accelerated at the end of the quarter to set a record high above $40 million. Robert Knapp, CEO said: “Sales momentum has continued into April and we expect another excellent performance for bookings for the fourth quarter as a whole.”
Traditional revenue for the third quarter fell by 18% to $13.7 million from $16.8 million a year ago but this decline was largely offset by a 42% increase in worldwide internet based revenue to $21.7 million, which made up 61% of total revenue for this quarter.
Europe internet revenue was £0.9 million, this made up 14% of the European revenue total, about the same for the previous quarter. Gregory Novake, President said: “We believe European internet revenue will grow at a pace similar to the historical growth of the US internet revenue. As we move through fiscal year 2005, we expect the growth will have an increasingly positive impact on both the top and bottom lines.” US internet based revenue for the quarter totaled £20.5 million, 76% of the total US revenue.
Pre-tax income for the quarter was $2.6 million, the same as the pre-tax income achieved in quarter three 2003. Knapp said: “During the quarter, we strategically invested in hiring additional sales and project staff in order to maintain our growth momentum. We also consolidated some of our UK back-office operations and incurred other non-recurring charges, all of which pushed our pre-tax income into the low end of our expectations.”
This year, Harris Interactive acquired Paris-based online research firm, Novatris. Revenues for this division reached $0.3 million and integration efforts at Novatris are well underway and on schedule says the statement.
Looking forward, Knapp said that for the fourth quarter, including Novatris, revenues are expected to be in the range of $41 to $43 million.
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