By Greg Hazley
Sweden-based PR software and monitoring purveyor Cision on Aug. 27 reported a seven percent decline in revenues to $41M compared to the 2010 period. Profit was flat.
CEO Hans Gieskes said Cision US organic growth “continues to develop in a positive direction” at three percent in Q1, compared to a four percent declinein Q1 2010.
He said the company shows growth in most markets, with the exception of a few where traditional media monitoring as its main business reduces the positive trend.
Operating profit hit 32M Swedish krona ($5.3M), down slightly from 33M SEK for Q1 of 2010. Gieskes said currency developments hurt its profit in Q1.
The CEO said Cision will continue to take measures to transform or divest media monitoring operations to complete its shift to a “true PR software and information services company.”
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