By Greg Hazley
Vocus posted a $742K net loss for the third quarter on revenue of $24.7M, a 17% revenue rise over Q3 of '09 but a wider loss from $382K for the period last year.
"We're very pleased with a number of achievements and positive trends in our business," president and CEO Rick Rudman said in a conference call.
Rudman said the company has sold about $1M worth of subscriptions to its four-month-old social media monitoring platform, which he predicted could grow to as much as $5M in annual revenue in the next year or so. The next release of that platform, which will expand its use for the small business market, is slated for early 2011.
The PR software and services provider said to added 579 net new subscription customers – Hormel Foods, Dow Corning and the U.S. Dept. of Energy, among others -- ending Q3 with 7,752 clients. President and CEO Rick Rudman said Vocus expects to reach 10,000 customers by next year.
Vocus expects revenue in the $25.6M to $25.8M range in Q4.
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