InfoUSA reports Q3 earnings
InfoUSA has reported record revenue of $185 million for the third quarter of 2007.
The report marks a $79 million increase in net sales for the company since third quarter last year, when net sales hit $106.4 million.
The Marketing Research Group contributed $56.3 million of the quarter's revenue. Another $9.9 million can be attributed to the final settlement in a lawsuit against Naviant Inc. The suit concerned breach of database license agreement.
Earnings per share reached $0.31 for the third quarter of 2007 û an increase over last year's third quarter earnings of $0.20. Year-to-date, the company has produced net sales of $502.9 million.
Founder, chairman and CEO of infoUSA, Vin Gupta, attributed the increased revenue to growth in core businesses, integrating Opinion Research and the acquisitions of Guideline Inc., NWC Research and Northwest Research Group û all three of which increased infoUSA's market research capabilities.
NWC, an Australian company, expanded the company's footprint in the Asia-Pacific market. Northwest, of Boise, Idaho, added to infoUSA's reach in the western US, particularly in transportation marketing.
SECO Financial, another acquisition in this quarter, is a key player in financial services marketing. That company joined infoUSA's Data Group October 1.
Gupta says the company will continue to make acquisitions as it strives to become a fully-integrated provider of marketing, sales, database and research information and services.