Keynote’s third quarter revenue grows 25%
Third quarter revenue at Keynote Systems Inc., which measures and monitors web site performance, increased 25% from a year ago to $17.4 million from $13.9 million, the company reports. Net loss for the third quarter was $1.5 million, compared to net income of $30,000 a year ago. The loss this year included $1.3 million for estimated income tax expense, $1.1 million in stock-based compensation expenses and a $713,000 charge for amortization of intangible assets required under generally accepted accounting principles, the company reports.
“In the third quarter, our team once again delivered strong financial results. Our Mobile Test and Measurement business continued to exceed our expectations,” says Umang Gupta, chairman and CEO. “Our other two business units, Internet Test and Measurement and Customer Experience Test and Measurement, also performed well and were within expectations.”
Gupta also notes that cash flow has been strong. ”For the past nine months, Keynote delivered total cash from operations of $17.4 million and free cash flow of $13.3 million, which have been greater than those for any twelve-month period in its history,” he says.
At the end of the quarter, June 30, Keynote’s had 2,650 customers worldwide, up from 2,600 a year ago. As of June 30, Keynote measured approximately 11,100 Internet pages, up from 9,600 a year ago.
In the first nine months, Keynote’s revenue was $49.9 million, up 23.7% from $40.3 million a year ago. Net loss was $1.2 million, a 20% improvement from last year’s $1.5 million loss in the first nine months.
Back...
