Last years merger with Pulse Train seems to have done Confirmit very well. Expansion continued in the second quarter of 2008 and so did profits.
Press release:
Confirmit delivers 80% revenue growth and 154% growth in operating results
Confirmit increased revenue in the second quarter of 2008 by 80% to USD 11.0 million. Operating results (EBIT) for the second quarter totaled USD 1.2 million, an increase of 154% compared to the corresponding quarter of 2007.
Commenting on the results, Confirmit's CEO, Henning Hansen stated:
"Once again we are pleased to announce an extremely successful quarter highlighted by strong revenue growth and improved earnings. Both our EMEA and North America business performed very well and we have made significant progress in product development during the last quarter. We successfully delivered Confirmit version 12.5 in May, and we are well on track to deliver the world's first SaaS platform for multimode feedback and research. Our customers and partners were very pleased with the Confirmit Community Conference 2008 which was held in London in May. The highly positive feedback we've received from our clients furthers our confidence about our ability to become the leader in our global market."
Highlights
80% revenue growth for the second quarter
33% proforma revenue growth for the second quarter
78% revenue growth for the first half year
32% proforma revenue growth for the first half year
154% EBIT growth for the second quarter
130% EBIT growth for the first half year
USD 3.2 million cash flow from operations for the first half year