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Vocus, Cision Announce Q1 Results

This week, Vocus announced results for the quarter ending March 31, 2011, reporting GAAP revenue of $27 million, a 21 percent increase year-over-year. GAAP loss from operations was $3.1 million for the first quarter, versus $549,000 for the same period in 2010.

During the quarter, Vocus acquired North Social, added 682 new annual subscribers (exceeding Q1 2010 by nearly 300) including TD Bank and the University of San Francisco, and launched the latest release of its product, which includes additional features.

Cision also released its earnings, showing growth in the U.S., but still struggling elsewhere. Organic growth was at -2 percent versus -1 percent the previous quarter. And revenue was SEK 248 million (about $41 million by yesterday’s currency conversion rate) versus SEK 269 million year-over-year. But in the U.S., organic growth was up three percent. It was two percent the previous quarter.

Cision CEO Hans Gieskes said in a statement:

In the first quarter, we were pleased with the revenue trend in our important market, Cision US, where organic growth continue to develop in a positive direction. In most of Cision’s markets, we now have organic growth, but a few markets with traditional media monitoring as the main business reduce the Group’s overall growth. As with our activities in 2009–2010, we will continue to implement measures to transform or possibly divest our remaining traditional media monitoring operations, in order to complete our transformation into atrue PR software and information services company.

Operating profit was down to SEK 32 million (about $5.3 million) from SEK 37 million the previous quarter. Operating profit was negatively affected, according to the earnings release, by the weaknesses in the U.S. dollar.

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