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FIND/SVP Acquisitions Help Return to Profit
US-based custom business research provider FIND/SVP, Inc. has announced good operating results for the third quarter and nine months ended September 30. Third quarter revenues were up 15% on the year to $11,433,000, and net income attributable to common shareholders was $435,000, up 47%.
EBITDA for the quarter was up 26% to $1,083,000 and operating income up 28% to $800,000 - all the above comparisons are vs Q3 2004.
For the nine months ended September 30, 2005, revenues were up 8% to $31,548,000 and net loss attributable to common shareholders for the nine months was down from $1,378,000 last year to just $101,000. EBITDA for the period was up 60% to $1,367,000 and operating income up 358% to $531,000.
The company made two acquisitions in the Spring (www.mrweb.com/drno/news3908.htm ) and to date their impact on the group seems very healthy. Atlantic Research & Consulting and FIND Strategic Intelligence, operating as Signia Partners, completed their integration and showed good profits in the quarter. Meanwhile MR company Guideline Research performed well with revenues up 28% in the third quarter of 2005 versus the second quarter, and bookings continuing to climb.
CEO David Walke said the results were 'without question, the best performance we have reported since I arrived at FIND almost 4 years ago, and indeed is one of, if not the best, quarters in terms of operating performance in the Company's 36-year history'.
Walke said the signs were positive for the company's strategy of creating or acquiring relevant services to offer a single-source solution for clients' diversified business research needs, but that there was 'a lot of work to be done before we can definitively validate this strategy'. Meanwhile he added 'We will also continue our active acquisition program, seeking complementary service offerings among quality, established and well-managed companies.'
The company's home page is at www.findsvp.com.
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