NEWS23 August 2013

Harris Interactive sees earnings rise despite revenue drop

Financials North America

US — Harris Interactive saw its revenues down for the 12 months to 30 June 2013 compared with the previous year according to its full fiscal 2013 results.

Revenues for the 12 months 2013 were down $7.2m to $140.3m compared with fiscal year 2012 although the fourth quarter saw revenues gain slightly at $36.7m compared with $36.5m for Q4 2012.

However, adjusted Ebitda for the fiscal year came in at $14m compared with $4.7 in 2012 while Q4 2013 saw Ebitda at $2.9m compared with $1.7m for the same period 2012, and the company predicted that it could see earnings up to $16.5m by end of fiscal 2014.

President and CEO of Harris Interactive Al Angrisami said the company was pleased with its full fiscal 2013 financial performance, which represented more than a 20% year over year improvement, adding that the company had managed to pay off all its outstanding debt prior to maturity.

He continued: “Going forward, we will begin the transition away from the turnaround of the last two fiscal years to a business model focused on investing in the business for long term shareholder value creation.”