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Confirmit Posts 76% First Quarter Growth
Online research software company Confirmit has delivered 76% first quarter revenue growth to $11.4m, up from $6.5m for Q1 last year.
The firm says that this increase is due to continued strong organic growth and the consolidated revenue effect from its acquisition of Pulse Train.
Operating results (EBIT) for the same period totalled $1.279m, an increase of 111% from $605k for the corresponding quarter of 2007. Profit before tax for quarter one was $1.446m, compared with $682k last year.
Commenting on the results, CEO Henning Hansen stated: 'We delivered another outstanding quarter, and all of our offices have exceeded our performance expectations. As the software market for MR and EFM continues to evolve, combined with the investments we are making in our software, we are well positioned as the number one vendor.'
For the full year 2007, revenue climbed 57% to $34.215m, while profit before tax was $4.7m, up 67% compared with $2.8m in 2006.
Confirmit had 229 employees at the end of the first quarter of 2008 compared with 220 employees at the end of 2007.
As well as its base in Oslo, Norway, the company has offices in Guildford, London, Moscow, New York, San Francisco, and Yaroslavl, and its software is distributed through partner resellers in Amsterdam, Sydney and Tokyo.
Web site: www.confirmit.com .
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