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comScore revenue grows by 41%

2nd May 2008 11:27 am Web Analytics

comScore, Inc. (Nasdaq: SCOR) today reported financial results for the first quarter ended March 31, 2008.

“In the first quarter, comScore achieved the highest revenue level in the company’s history,” said Magid Abraham, comScore’s chief executive officer and president.

“As we continued to pursue our strategic priorities of increasing value for our customers and shareholders, we generated 41 percent revenue growth over the first quarter of 2007, while our deferred
revenue balance increased 46 percent over the balance at the end of the first quarter of 2007.

These excellent revenue results were achieved while we simultaneously increased our pre-tax net income by 165 percent, our net income by 64 percent and our Adjusted EBITDA by 104 percent.”

“We continued to make gains in penetrating our existing customer base both in the U.S. and internationally, while adding a net 53 new customers in the first quarter. Despite recent indications of a slowing U.S. economy, our confidence in the strength of our business and client demand for our products and services remains unchanged. The quality of our client relationships is reflected in our revenue growth amongst existing customers of 38 percent and a subscription renewal rate that was 93 percent this quarter,” continued Abraham.

“At the same time, we have been taking steps to further develop our new product pipeline and lay the foundation for future growth. During the first quarter, we launched Ad Metrix-Advertiser View, a powerful tool for agencies and publishers designed to support their media buying and selling activities and supply their competitive intelligence needs.

In April, we launched the second generation of our media planning product, Plan Metrix, and increased the frequency of reporting from a semi-annual to a monthly cycle.”
comScore reported revenue of $26.4 million for the quarter ended March 31, 2008, an increase of 41 percent compared to the first quarter of 2007 and an increase of four percent over the fourth quarter of 2007. This revenue performance exceeded the range of the company’s guidance of approximately $25.9 million to $26.2 million for first quarter 2008.

First quarter 2008 GAAP income before income taxes was $4.2 million, up 165 percent compared to the first quarter of 2007. Net income was $2.5 million, up 64 percent compared to the same period in 2007. The tax rate included in net income is a normalized effective tax rate of 39.9 percent, inclusive of an effective cash tax rate of 1.5 percent as the company
continues to utilize net operating loss carryforwards to reduce cash taxes.

By comparison, the first quarter 2007 net income includes an effective tax rate of 2.9 percent.

comScore reports net income and earnings per share (EPS) on a GAAP and non-GAAP basis. In addition, comScore reports adjusted EBITDA and free cash flow as non-GAAP measures. A reconciliation of comScore’s GAAP results to these non-GAAP measures is included in the financial tables accompanying this release.

–   GAAP EPS for the first quarter of 2008 was $0.08 per share on approximately 30.0 million fully diluted shares.

–   Adjusted EBITDA was $5.6 million, an increase of 104 percent compared to the corresponding quarter in 2007, and includes approximately $600,000 in incremental public company costs in the first quarter of 2008 that were not applicable to the company in the first quarter of 2007.  This performance exceeded the range of the company’s previous guidance for adjusted EBITDA for first quarter 2008 of $5.1 million to $5.4 million.

–   comScore’s Adjusted EBITDA margin was approximately 21 percent, an increase of more than six percentage points as compared to the first quarter of 2007 despite the effects of an approximately two percentage point reduction attributable to $600,000 in incremental costs incurred in the first quarter of 2008 due to comScore’s public reporting and compliance obligations, which costs were not applicable to the company in the first quarter of 2007.

–   Non-GAAP adjusted net income for the first quarter of 2008 was $5.3 million, an increase of 174 percent when compared to $1.9 million in the first quarter of 2007.  Non-GAAP EPS was $0.18 per share.  This exceeded the ranges of the company’s guidance for non-GAAP adjusted net income and non-GAAP EPS for first quarter 2008 of $4.4 million to $4.7 million and $0.14 to $0.17 per share, respectively.

comScore is forecasting full-year 2008 revenue of approximately $113.0 million to $113.6 million; up 30 percent over actual full-year 2007 revenue results. This represents an increase over the company’s previous full-year 2008 revenue guidance of $112.2 million to $113.2 million.

For the full-year 2008, comScore is projecting GAAP net income of $10.3 million to $11.5 million. A normalized estimated effective tax rate of approximately 41 percent, inclusive of an estimated cash tax rate of approximately 4.9 percent, is assumed to be applied against full-year earnings before taxes.

Our projection also assumes that recent general declines in interest rates will result in interest income for 2008 that is approximately $900,000 lower than initially anticipated. Given these assumptions, the company is projecting GAAP EPS for the full-year 2008 of $0.34 to $0.38 per share.

The company is projecting Adjusted EBITDA for the full-year 2008 in the range of $26.0 million to $26.5 million, an increase of 45 percent to 48 percent as compared to full-year 2007. This compares to the company’s previous full-year adjusted EBITDA guidance of $25.4 million to $26.4 million.

The adjusted EBITDA margin for the full-year 2008 is projected to be between 23 percent and 24 percent, an increase of two to three percentage points compared to full-year 2007 despite a reduction of approximately one percentage point attributable to incremental costs incurred in the first half of 2008 due to comScore’s public reporting and compliance obligations, which costs were not applicable to the company in the first half of 2007.

comScore is also forecasting non-GAAP adjusted net income of approximately $22.8 million to $23.7 million and non-GAAP EPS of $0.75 to $0.80 per share for full-year 2008.

Would you like to know more about this subject? If so, contact Hit Search, SEMPO accredited Search Engine Optimisation and Pay Per Click specialists, on 0845 643 9289. Remember, its a big world out there, make sure you become visible.


comScore “Digital World: State Of The Internet” report highlights

18th March 2008 5:14 pm Web Analytics

comScore, (NASDAQ: SCOR), today released several key findings from its “Digital World: State of the Internet” report. The study highlights the changing dynamics of worldwide Internet usage, as it has grown from a U.S.-centric medium to its currently global landscape.

Comscore Logo

In January 2008, the Asia Pacific region had more than 300 million Internet users at least 15 years of age accessing the Internet from work and home computers.

This represents an increase of 14 percent versus year ago and makes Asia Pacific the largest of the five worldwide regions. Latin America and Middle East-Africa have also experienced above average audience growth during the past year, while North America and Europe have grown at more modest rates.

Worldwide Internet Audience (000) - January 2008 vs. January 2007

Region   Jan-07       Jan-08    Percent Change
Worldwide - 746,934 - 824,435 - 10.4%
Asia Pacific - 271,192 - 308,817 - 13.9%
Europe - 218,063 - 232,866 - 6.8%
North America - 173,839 - 183,823 - 5.7%
Latin America - 50,641- 59,025 - 16.6%
Middle East/Africa - 33,199 - 39,904 - 20.2%

Total Worldwide, Age 15+ -= Home and Work Locations*
Source: comScore World Metrix

* Excludes traffic from public computers such as Internet cafes or access from mobile phones or PDAs.

The “Digital World” report covers a broad array of topics illustrating the key global trends that underlie how the Internet is used around the world today.  Some of the key findings include:

* The U.S. now accounts for 21 percent of Internet users worldwide.  While growth in the number of Internet users in the U.S. has slowed, several Asian and Eastern European countries continue to add new users at a rapid rate.

* Google is the dominant search brand in most countries, including most of Europe and Latin America, with a few significant exceptions - countries where Chinese, Korean, and Russian languages dominate.

* Chinese language search engine Baidu currently ranks #3 in worldwide search market share, behind Google and Yahoo!

* The number of worldwide visitors to social networking sites has grown 34 percent in the past year to 530 million, representing approximately 2 out of every 3 Internet users. MySpace and Facebook are in a tight battle for the global leadership position, each attracting more than 100 million visitors per month.

* Online video has become the dominant online entertainment format, led by the global popularity of YouTube with more than 250 million visitors in January.

* The Internet has become an important source of news for most Web users.  The top 10 global news brands show great diversity between country of origin, including the U.S., U.K., China and South Korea.

The comScore “Digital World” report is priced at $4,999 for the first copy and $999 for each additional copy shipped to the same address, and can be purchased online at www.comscore.com/reports.

If your company needs to know more about web analytics and how you business could benefit, then contact Hit Search and see how we can help your business grow. Remember, its a big world out there, make sure you become visible.
 


Nielsen to provide measuresment on 330,000 televisions

12th March 2008 3:14 pm Web Analytics

The Nielsen Company and Charter Communications, announced today an agreement to commercialise the use of anonymous digital set top box (STB) data for analytical and potential audience measurement purposes for television.

As part of this agreement, Charter is providing Nielsen with anonymous STB viewing data from almost 330,000 households in the Los Angeles area, which Nielsen will develop into commercially available analyses and reports of digital television viewership.

To protect customers’ privacy and maintain the confidentiality of their viewing preferences, Charter will only provide data in an anonymous form to prevent Nielsen from identifying the personal information or identity of any individual Charter customer. Similarly, all Nielsen reports will contain only anonymous and aggregated data.

This research will be the first time that census-level tuning data and panel-based people meter viewing data will be combined to produce expanded household and demographic reporting from a local television market.

“Charter is committed to improving the precision of local market measurement,” said Jim Heneghan, Senior Vice President, Advertising Sales for Charter. “By working with Nielsen, we are ensuring that our advertiser and agency clients get the most reliable data possible to evaluate their media buys.”

“At a time of rapid technological change in the television industry, Nielsen is inventing new ways to measure how people watch television,” said Jed Meyer, Senior Vice President of Nielsen DigitalPlus.

“Through these studies, we will provide Charter with new insights on the consumption of all digital video. At the same time, we will be investigating the potential of digital set top boxes and the data they generate to enhance our existing audience measurement services.”


Comscore report analyses online trends across 23 countries

12th March 2008 12:34 am Web Analytics

comScore today announced the availability of its new report, “Digital World: State of the Internet,” for purchase. The report is the first publicly available, comprehensive global view of Internet usage trends across various worldwide regions, including in-depth spotlights on 23 countries.

The Internet has become an integral part of work life, personal life, and even social life in most parts of the world.

Despite frequent news stories about a burgeoning world of online developments, until now there has never been a single reference volume that synthesizes the threads of global Internet activity into an easy to read, comprehensive report, making it an indispensable reference tool for any marketer, Web site publisher, or investor who needs to understand how the Internet is being used, what online trends are emerging across categories and across countries, and where future growth indicates new online investment opportunities exist. 

The 80-page report also includes the first look into a number of worldwide markets, including China, Japan, and India, and covers online activities such as search, email, social networking, entertainment, gaming, news, among others.

“This is a great paper,” said Joe Schoendorf, General Partner at Accel and strategic partner of the World Economic Forum. “In many ways, comScore is tracking the economic heartbeat of the globe.”

The report is priced at $4,999 for the first copy, $999 for each additional copy shipped to the same address, and can be purchased online at www.comscore.com/reports.  The report will begin shipping on March 17.


Omnicom subscribes to TiVo’s audience research service

5th March 2008 11:16 pm Web Analytics

TiVo Inc today announced that Omnicom Media Group has purchased a subscription to TiVo’s Stop||Watch(TM) ratings service.

The Group’s full service media companies, OMD, PHD, and Prometheus Media Services, will use the comprehensive, second-by-second DVR audience behavioral data to help their clients better understand Live and Timeshifted audience viewing habits and the effectiveness of ad campaigns.

“DVRs are changing the television advertising playing field,” said Michael Atkin, Director of Media Research, OMD. “Having the ability to analyze second-by-second snapshots of audience viewing habits provides a clear advantage to our clients and can significantly impact the business and creative elements of a marketing campaign.

TiVo’s Stop||Watch(TM) service allows us to better evaluate program and commercial DVR viewing habits at the most granular level possible, which, in turn, helps us determine ROI for media investments and enables us to better understand what is resonating with our  clients’ target audiences and what needs retooling.”

OMD, PHD and Prometheus can utilize the TiVo Stop||Watch(TM) ratings service to access an anonymous sample of 20,000 TiVo households to research and analyze viewer behavior on an unmatched second-by-second basis. The data is offered via an easily sortable database designed to track the specific viewership for nationally run programs and advertisements in both
a Live and Timeshifted viewing context.

Todd Juenger, Vice President & General Manager, TiVo Audience Research & Measurement said, “We are very delighted that Omnicom Media Group, one of the largest and most innovative media companies in the world, recognizes the tremendous value that TiVo is bringing to the market. TiVo’s audience research service has quickly emerged as a ‘must have’ for all media industry participants trying to solve significant strategic challenges in the age of the DVR.”

Additionally, TiVo’s advertising sales team will work with OMG to help them bring their clients the most up to date opportunities available on TiVo’s interactive DVR platform.

TiVo Stop||Watch(TM) ratings service data is derived from a daily, aggregate, anonymous, stratified random sample of 20,000 TiVo units — from which the second-by-second “clickstream” of behavior and viewership is collected and assessed.

The Stop||Watch(TM) service includes data for: Total Viewing, Live Viewing, Timeshifted Viewing (less than 1 hour, 1-6
hours, 6-24 hours, 24-48 hours, 2-7 day, and 7-14 day delay), Program Ratings, Commercial Ratings and a Commercial Viewership Index.

The Stop||Watch(TM) service uses ad occurrence data from TNS Media Intelligence to identify commercial spots. For more information on the TiVo Stop||Watch(TM) ratings service, visit https://stopwatch.tivo.com.

Additional subscribers to TiVo’s Stop||Watch(TM) service include: NBC Universal, CBS Corporation, The Interpublic Group, Starcom, Carat USA, MPMA, Crispin Porter + Bogusky, Media IQ and Euro RSCG New York.


comScore Superbowl and Pizza Study

26th February 2008 12:00 am Web Analytics

comScore today released study results showing that among three of the nation’s top pizza delivery franchises - Domino’s Pizza, Papa John’s and Pizza Hut - Domino’s saw the greatest increase in share of dollars spent online during this year’s Super Bowl Sunday compared to an average Sunday in October during football season.

Domino’s increased share from 20 percent to 31 percent, while Papa John’s and Pizza Hut both saw their relative shares of online orders decline.
 
“In the highly competitive pizza delivery industry, achieving success on peak selling days - like Super Bowl Sunday - is crucial, and this year Domino’s saw the greatest improvement,” says Carolina Petrini, comScore senior vice president, Marketing Solutions. “Oftentimes, landmark events like Super Bowl Sunday have a way of bringing new customers into the fold and can have a profound impact on shaping a developing market channel like online ordering.

It is important for marketers to capitalize on these opportunities to position themselves for future success.”

Domino’s Share Increase Fueled by Larger Number of Purchasers
The sharp increase in Domino’s dollar share on Super Bowl Sunday came from an increase in number of purchasers and not a higher average transaction size.

Percent Increase of Purchasers on Super Bowl Sunday
Total U.S. - Home/Work/University Locations
Source: comScore, Inc.

Pizza Chain  Compared to Average Sunday in Oct-07
Domino’s      147%
Papa John’s     22%
Pizza Hut      2%

In fact, average dollars per transaction for Domino’s actually declined 7 percent from its October average to $22.93.

Pizza Hut achieved a notable 29-percent increase in average transaction size to $28.28 but experienced a marginal decline in dollar share.  Papa John’s saw virtually no change in its average transaction size but experienced a significant decline in dollar share.  Even with the share decline, Papa John’s remained the share leader by one percentage point.

“This type of analysis provides marketers with the insights needed to assess the performance of their campaigns and benchmark against the competition,” said Petrini. “Understanding which factors are determining success can help marketers determine the optimal strategy for future efforts.”

To request a copy of the Online Pizza Delivery on Super Bowl Sunday report or for more information on comScore capabilities, please visit www.comscore.com/pizza.


comScore releases top web rankings for January 2008

25th February 2008 6:53 pm Web Analytics

comScore today released its January 2008 rankings of the largest and fastest-growing Internet properties and site categories in Canada based on data from its comScore Media Metrix service.

The month saw increases to tax, career, real estate, travel, and health-related sites as Canadians reevaluated the past year and planned for 2008. Google Sites vaulted into the top position as the most visited Web property in Canada for the first time.

“Several job sites such as Monster, Workopolis, and JobBank achieved significant gains in January as many Canadians resolved to improve their careers in 2008,” said Brent Bernie, president of comScore Media Metrix, comScore Canada.

“January is also an active time of year for visiting government entities both on the provincial and federal level, which provides Canadians with the necessary information and tools for preparing for a busy RRSP and tax season. Finally, the extreme cold weather and record breaking snow levels in Canada have driven us to travel entities on the Web in hopes of finding warmer destinations.”

Jan-08  Dec-07    Property                     Total Unique Visitors (000)     
1       2         Google Sites                          22,440
2       1         Microsoft Sites                       22,424
3       3         Yahoo! Sites                          16,481
4       4         Facebook.com                          15,354
5       5         eBay                                  13,856
6       6         Wikipedia Sites                       11,683
7       N/A       AOL LLC***                            10,707
8       7         Yellow Pages Group                     9,746
9       8         Amazon Sites                           9,521
10      9         Apple Inc.                             8,684
11      10        Canoe Network                          8,596
12      13        Fox Interactive Media                  8,084
13      15        CTVglobemedia                          7,876
14      12        CNET Networks                          7,706
15      11        The Weather Network Meteomedia         7,702
16      16        New York Times Digital                 7,532
17      14        Ask Network                            7,309
18      18        Viacom Digital                         6,374
19      20        CBC-Radio Canada Sites                 6,226
20      19        Adobe Sites                            6,073
21      N/A       Time Warner - Excluding AOL***         5,583
22      22        Gorilla Nation                         5,462
23      21        WhitePages                             4,939
24      35        Expedia Inc                            4,890
25      24        TD Bank Financial Group                4,573


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