FIRM Delivers 31% Organic Growth and Strong Improvement in EBIT

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FIRM the world's leading provider of software for Market Research and Enterprise Feedback Management, increased revenue in the second quarter of 2006 by 31 percent compared to the corresponding quarter of 2005.

FIRM (OSE:FIRM), the world's leading provider of software for Market Research and Enterprise Feedback Management, increased revenue in the second quarter of 2006 by 31 percent compared to the corresponding quarter of 2005. FIRM achieved revenue of USD 4.6 million in the second quarter of 2006 compared to USD 3.5 million in the corresponding quarter of 2005. The cash flow from operations was USD 1.3 million in the second quarter of 2006.

Commenting on the results, FIRM’s CEO, Henning Hansen said, “We are pleased with strong improvements in growth rates and EBIT results for the quarter and are excited that we are winning new clients in combination with our strong revenue development in the existing client base. Furthermore leading industry analysts following the software market for Enterprise Feedback Management and Market Research have identified a growing maturity in the market and have placed FIRM among the top leaders in our industry.”

Highlights second quarter 2006

  • 31% organic revenue growth (Q205: 21%)
  • 7% EBIT margin (Q205: 6% negative margin)
  • USD 1.3 million positive cash flow from operations (Q205: 0.6 million negative cash flow)
  • Strong growth in both North America and EMEA

The complete financial report for second quarter 2006 can be downloaded via the following link:

http://www.confirmit.com/pdf/firm2006q2.pdf

Press contacts:

CEO Henning Hansen, phone: +47 908 81192, or

CFO Ken Østreng, phone +47 911 51686.

About FIRM

Future Information Research Management (FIRM) is the world's leading provider of software for Market Research (MR) and Enterprise Feedback Management (EFM). The company has 99 employees and offices in Oslo, London, New York and San Francisco. FIRM’s software is also distributed through partner resellers in Amsterdam, Sydney and Tokyo. FIRM became a public company in December 2005, and is listed on Oslo Stock Exchange under the ticker "FIRM."

Confirmit, FIRM’s flagship product, is a web-based survey, feedback and reporting software. FIRM’s two target markets and product offerings are Global 5000 companies with Confirmit EFM (Enterprise Feedback Management) and market research companies worldwide with Confirmit MR (Market Research). Customers include Accenture, ACNielsen, Aker Kværner, Dow Jones, Egg, Hewlett Packard, Ipsos, Microsoft, Storebrand, Statoil, and Tomra.

For more information about FIRM and Confirmit, visit http://www.confirmit.com.

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