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Thursday, 24 April 2014

Harris Interactive cuts third-quarter losses

US— Harris Interactive’s revenue was down 8% to $34.1m in the three months ending 31 March, but the company has cut both its operating loss and net loss for the period as CEO Al Angrisani continues with his turnaround plan.

By region and in local currency, Harris said revenue declined 7% in the US and 5% in Canada. In the UK, sales were down 30% as a result of the scaling back of operations, but CEO Al Angrisani says the management team has made “good progress” in turning the business around. France was up 5% and Germany was flat.

Operating loss was $400,000, compared to $1.8m a year ago, while net loss was $300,000, down from $2.3m. However, year-to-date losses increased from $3.3m to $4.7m.

Angrisani said: “At this stage of the turnaround, it’s really all about profitable sales growth. Sales are now ‘job one’ at Harris Interactive.”

The Harris Poll syndicated products are the company’s first area of focus. Speaking to analysts, Angrisani said: “We’ve gotten ourselves to the point that we pretty much understand our business. We understand what we can sell that makes money for us. So with that we now have to turn our attention to growing the sales line. The keys to that are rather complex, but the good news is that it doesn’t require a lot of investments.

“The company has adequate resources to grow itself. It’s just a matter of getting the sales and marketing model right in the company.”

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