Sweden-based PR software provider Cision, which has been reorganizing and shed 20% of its North American workforce in the fourth quarter, said 2012 revenue ticked up 2% to SEK 987M (about $156M) as subscriptions to its flagship service rose and North America offset declines in Europe.

Organic growth swung positive to 4% over 2011.

North American revenue rose 7% to SEK 773M ($122M) for the year while organic growth hit 5% for the year. European operations declined 15% to 222M ($35M0.
While revenue declined in the fourth quarter, CEO Hans Gieskes said results were in line with expectations as the company divested its U.S. print monitoring business, which was acquired by BurrellesLuce for $2M.

“It is never easy to make big changes in headcount and during this quarter the North America headcount did reduce by 20%,” said Gieskes, who added that the company has focused on growth by striking a balance between investing in sales and marketing and finding savings elsewhere. The cuts amounted 150 people.

Net profit dipped 18% to 70M.

Subscription revenue, which accounts for 64% of Cision’s business, climbed 7% for the year.  Total number of customers of its flagship CisionPoint platform rose to 9,150, a six percent climb over 2011.

Gieskes said the fourth quarter decline came mostly from uncertainty of renewal customers affected by the divestment of the print monitoring unit, and in North America the company booked a one-time boost last year in broadcasting monitoring which skewed Q4 of 2012.