By Greg Hazley
Vocus reported a 20 percent increase in second quarter revenue to $28.5M, compared with Q2 of 2010, as its net loss narrowed to $755K from $2M a year earlier.
The company added 601 net new PR software subscription customers during the period, including Darden Restaurants, Five Guys Enterprises and Time Warner Cable, a 30 percent increase from 435 added last year. It closed the quarter with 9,857 clients, putting the company on pace for the 10,000 mark in Q3.
CEO Rick Rudman, in a conference call discussing the Q2 earnings on July 26, categorized the quarter as "better than expected with strong performance across the board, both in the U.S. and overseas, with good renewals and strong momentum in social media and small business."
Vocus spent $13.3M on sales and marketing during Q2, up from $11.5M in 2010 as its sales force grew and it paid out more commissions on increased sales.
The company forecasts third quarter revenue in the $28.6M-$28.8M range.
Rudman said Vocus plans to roll out a new version of its core service in Q3, integrating its PR offerings with marketing and social media. The "cloud-based" suite is expected to be offered to customers in Q4, Rudman said.
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