Confirmit Delivers 80% Revenue Growth and 154% Growth in Operating Results

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Confirmit, the world's leading provider of software for Market Research (MR) and Enterprise Feedback Management (EFM), increased revenue in the second quarter of 2008 by 80% to USD $11.0 million. Operating results (EBIT) for the second quarter totaled USD $1.2 million, an increase of 154% compared to the corresponding quarter of 2007.

Confirmit, the world's leading provider of software for Market Research (MR) and Enterprise Feedback Management (EFM), increased revenue in the second quarter of 2008 by 80% to USD $11 million. Operating results (EBIT) for the second quarter totaled USD $1.2 million, an increase of 154% compared to the corresponding quarter of 2007.

Commenting on the results, Confirmit's CEO, Henning Hansen stated:
"Once again we are pleased to announce an extremely successful quarter highlighted by strong revenue growth and improved earnings. Both our EMEA and North America business performed very well and we have made significant progress in product development during the last quarter. We successfully delivered Confirmit version 12.5 in May, and we are well on track to deliver the world's first SaaS platform for multimode feedback and research. Our customers and partners were very pleased with the Confirmit Community Conference 2008 which was held in London in May. The highly positive feedback we've received from our clients furthers our confidence about our ability to become the leader in our global market."

Highlights:

  • 80% revenue growth for the second quarter
  • 33% proforma revenue growth for the second quarter
  • 78% revenue growth for the first half year
  • 32% proforma revenue growth for the first half year
  • 154% EBIT growth for the second quarter
  • 130% EBIT growth for the first half year
  • USD $3.2 million cash flow from operations for the first half year

Further information:

Press contacts:
Henning Hansen, CEO, +47 908 81192
Ken Østreng, CFO, +47 911 51686

About Confirmit:
Confirmit is the world's leading provider of software for Market Research (MR) and Enterprise Feedback Management (EFM). The company has more than 200 employees and offices in Oslo (headquarters), Guildford, London, Moscow, New York, San Francisco, and Yaroslavl. Confirmit's software is also distributed through partner resellers in Barcelona, Milan, Santiago, Sydney, Tokyo and Valencia. Confirmit became a public company in December 2005, and is listed on Oslo Stock Exchange under the ticker "CONF".

Confirmit targets Global 5000 companies and Market Research agencies worldwide with a wide range of software products for feedback / data collection, panel management, data processing, analysis, and reporting. Customers include British Airways, Countrywide Financial, Dow Chemical, Experian, GlaxoSmithKline, Halifax Bank of Scotland, Hewlett Packard, Intrawest, Ipsos, Nielsen, The NPD Group, Safeco Insurance, Statoil, Symantec and Virgin Media.

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