NEWS17 November 2009

Revenue drop eases for Datascension in third quarter

Financials North America

US— Data collection firm Datascension continued to see revenues fall in the third quarter of 2009, but the rate of decline has eased from a 29% year-on-year decrease in Q1 to a drop of 10.7% for the three months ended 30 September.

Revenue for the period came in at $3.55m, compared to $3.98m a year ago. Gross profit was up by 36% to $676,000 while the firm cut its net loss from $5m in Q3 2008 to under $50,000 this year.

The improved performance in the third quarter puts the firm’s year-to-date revenue down 20% to $11.1m, with both gross profit and net income up year-on-year.

Datascension, which specialises in MR data collection and contact centre services, has had to restructure its balance sheet amid the economic downturn and has agreed new terms on the loans from its two main creditors.

CEO Lou Persico (pictured) said: “I am proud of the work our employees have done to improve our business despite adverse economic conditions. We have worked hard and our lenders have recognised these efforts by agreeing to restructure our outstanding notes on more favourable terms.”