NEWS15 October 2009

Omniture halves losses and boosts third-quarter revenue

Financials North America

US— Omniture halved its losses and boosted revenue by 13% to $87.9m for the three months ended 30 September, according to figures published today.

The results will no doubt cheer Adobe, the design software firm that has agreed a $1.8bn deal to acquire Omniture, which specialises in web analytics and marketing optimisation tools.

Omniture’s Q3 net loss came in at $8.5m – though the figure includes $5.3m in acquisition-related expenses. Stripping out those costs and other items such as stock-based compensation and amortisation, net income would have been $12.3m compared to $8.2m in the same period last year.

Nine-month revenue was up 24% to $262.6m while net losses fell 41% year-on-year to $21.6m from $36.7m.

Adobe’s purchase of Omniture has been approved by antitrust regulators but the deal is still to be agreed by shareholders.

To date three investors have come out against the deal, filing lawsuits that seek to derail the acquisition with allegations that Omniture’s board of directors breached their fiduciary duty to shareholders in agreeing the deal. Adobe is also named in the lawsuits for aiding and abetting the alleged breach of fiduciary duty.

Omniture has stated that it intends to defend against the lawsuits “vigorously”.