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comScore Profit Jumps 60%
Fourth quarter net income at online audience measurement firm comScore jumped 60% to $20.4m or 67 cents per share, from $12.7m, 42 cents per share, in the same period the previous year.
 During the period, revenue rose 25% to $31.6m from $25.3m. However, Wall Street analysts had expected a profit of 4 cents per share on higher sales of $32.5m.
The company explained that Q4 revenue was slightly below the low end of its guidance range, impacted by 'somewhat lighter' project revenue, the negative impact of the stronger US dollar on international revenue, and a slower rate of international growth.
During the fourth quarter, the firm won 112 new customers, and maintained its subscription renewal rate in excess of 90% on a subscription revenue basis.
For the full year, net income after paying preferred dividends climbed 35% to $25.2m, or 83 cents per share, up from $17.5m the previous year.
'These financial results reflect continuation of our revenue growth, the fundamental strength of our business model, and the benefits of cost containment efforts that we implemented late last year,' reflected CEO and President Magid Abraham. 'We believe that our strong market position, financial health and business model have positioned us well for continued long-term success.'
comScore expects 15% revenue growth in 2009. However, because of the uncertain economic environment, the firm also anticipates posting net income of $0.2m to $0.5m on about $30m sales for the first quarter of this year.
comScore provides digital consumer browsing and transaction behavior based on a global cross-section of more than 2 million Internet users. With its recent acquisition of M:Metrics, the firm is now able to measure the mobile Internet market.
Web site: www.comscore.com .
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