This Week
  • ROC the Future gives update on milestones for local education system.

  • The Greater Rochester Awards honorees are profiled.

  • CEO David Boyce has Tompkins Insurance Agencies on a growth path.

  • Aware of challenges, private schools work to build a sustainable future.

  • Mech Tech HVAC CEO Edward Burns expects the firm to log solid growth in 2014.

  • Owner of U.S. Ceiling Corp. uses digital estimation to save time and stay competitive.

Harris Interactive stock climbs on profit growth

Rochester Business Journal
February 7, 2013

Shares of Harris Interactive Inc. were trading at $1.50 Thursday morning, up nearly 9 percent, to their highest price since early November, after the company announced an increase in net profit for its fiscal second quarter on Wednesday.

The market research firm (Nasdaq: HPOL) reported a net income of $2.9 million, or 5 cents a share, up from $1.6 million, or 3 cents, a year ago. The company logged revenues of $37.1 million, down from $39.1 million a year ago.

Bookings for the quarter totaled $47.8 million, up from $45.2 million a year ago. As of Dec. 31, the company’s cash and cash equivalents totaled $11.1 million, down from $14.1 million at the end of 2011.  Harris Interactive reported an outstanding debt of $3.6 million at the end of 2012, which was down from $8.4 million at the end of 2011.

Albert Angrisani, president and CEO of Harris Interactive, said the company’s focus going forward will be to continue to strengthen sales efforts and develop its products.

“Today’s announcement of improved earnings guidance over last year’s earnings is a strong indication that the turnaround is progressing on schedule,” Angrisani said in a statement. “Our improved profitability has allowed us to continue to de-leverage our balance sheet and position ourselves to pay off all remaining bank debt by fiscal year end.”

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google