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Guideline Results Confirm Upturn
Custom business research provider Guideline has published quarterly results confirming the reassurance it gave three weeks ago, and completing its first twelve month period of net gain in more than 4 years. Organic revenue rose 13.6% to $12.8m for the quarter.
The firm, which was formerly known as FIND/SVP, took the unusual step of announcing summarized results very early, in order to allay concerns which were damaging its share price (April 26th – see www.mrweb.com/drno/news6720.htm ).
Pre-tax earnings (EBITDA) for the quarter fell to $517,000 from $817,000 in the first quarter a year earlier, but were up from $221,000 in the fourth quarter of last year. Operating income at $135,000 also declined compared with $334,000 one year earlier, but compares very favourably with a loss of $366,000 in Q4 2006.
Commenting on the first quarter results, David Walke, Chairman and CEO, said: 'This was by far the strongest revenue quarter in the company's history. This performance was primarily a consequence of a record-setting performance within our Market Research practice, with revenues up 45% and EBITDA up 365%.'
Walke noted two recent significant milestones: 'First and foremost, our On-Demand practice achieved a positive net gain of just under 2%. Secondly, the commitment we have made to our Corporate Sales department continues to pay off and we have exceeded our consolidated bookings quota.'
Guideline's share price dipped below the $1 mark earlier in the month, but following the earnings announcement, opened today at $1.10. The New York-based company is on the net at www.guideline.com .
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