NEWS18 August 2010

Revenue decline steepens at Datascension

News North America

US — Data collection outsourcing firm Datascension saw revenue fall by 49.6% in the second quarter of this year, from $3.8m to $1.9m.

This followed a 28.4% year-on-year revenue decline in the first quarter of the year.

The firm reported a net loss of $645,567 for the second quarter, compared to a net profit of $201,434 in the same period last year. For the first six months the total net loss was $840,290 compared to a profit of $210,345 in the first half of 2009.

In a filing with the Securities and Exchange Commission on Monday, the firm said the drop in revenue was “primarily due to the current general economic downturn” which had led clients to spend less on outsourcing.