Omniture revenue up 13% in Q3
Analytics software provider Omniture Inc. announced $87.9 million in revenue for the third quarter of 2009, which ended September 30. The earnings represent an increase of 13% compared to revenue of $77.8 million reported for the same period a year ago.
The company recently entered into an agreement to be acquired by Adobe Systems Inc. The deal, valued at approximately $1.8 billion, is expected to close in the fourth quarter of 2009. Omniture attributed $5.3 million of its $8.5 million net losses in the third quarter to acquisition-related expenses.
It attributes its overall revenue gains to 150 new customers wins in the third quarter, including Beyond.com, ING Life Insurance Korea Ltd., Mail.com Media Corporation, Tesco Stores Limited, and the USO.
Omniture did not hold an earnings call to discuss this quarter's results. Calls for comment to the Omniture press team were not returned in time for deadline.
Adobe released a statement of its fourth quarter financial targets on October 6, but did not include the impact of the Omniture acquisition. When the deal was announced on September 15, a company statement said it expected the deal to position Adobe to improve its marketshare and deliver software to enable commercial content across platforms and devices.
Some industry experts told DMNews in September that the Omniture buy could lead to a rush for companies without analytics capabilites to court analytics providers. John Lovett, senior analyst at Forrester Research, said he thought "the acquisition will raise attention and awareness for measurement technologies everywhere.”