comScore Reports Loss For Q2

comScore Reports Loss For Q2

For the 2nd Quarter of 2012, COMSCORE, Inc. (NASDAQ:SCOR) reported a revenue of $60.3 million, which is a 4% increase over last years 2nd Q. The company announced that revenue growth was stunted by adverse currency fluctuation, and a decline in the company’s TV copy industry. The copy business affected growth negatively by 5%, and without it included, the company would have had a 9%growth rate.

The company reported a net loss of $6.6 million, which equals $0.20 per diluted share. Non-GAAP income was recorded at $13.1 million, or $0.37 per share, which is a 144% increase from last year. Adjusted EBITDA was $9.6 million, equaling 16% of revenue for the quarter, while the same figure from last year equaled $11.1 million.

The CEO and president of COMSCORE, Inc. (NASDAQ:SCOR), Dr.. Magid Abraham, said in a statement, ““We are disappointed that our revenue and adjusted EBITDA results were below expectations for the second quarter, largely due to the decline in our non-strategic copy testing business and a greater than expected effect of foreign currency fluctuations.” He continued by saying, “However, we believe these factors mask the strength in new contract signings we are experiencing in our comprehensive portfolio of digital business analytics solutions. We are seeing accelerating adoption of our digital campaign measurement solutions, and we estimate that comScore has captured a strong share in the rapidly growing market for digital campaign ratings and performance measurement.”

The company expects to post between $60.5 million and $63.5 million in revenue for the 3rd Q year, with approximately 35.8 million fully diluted shares. Total revenue for the year is estimated at $248.1 to $255.1 million and they expect to have 35.2 milllion fully diluted shares.