Retailers shift their ad spending from TV, radio and print ads to digital ads.
The web analytics provider, formerly known as WebSideStory, reported revenue of $19.7 million in the three months ended June 30, up 29% from $15.2 million in the second quarter last year.
Web analytics provider Visual Sciences Inc. reported revenue of $19.7 million in the three months ended June 30, up 29% from $15.2 million in the second quarter last year. Revenue for the first half of the year was $40.2 million, up 40% from $28.7 million last year.
The company, formerly known as WebSideStory, reported a Q2 net loss of $200,000 versus $2.4 million in the year-ago quarter, based on the generally accepted accounting principles used by publicly traded U.S. firms. Non-GAAP net income for the quarter, excluding such items as amortization of intangibles and stock-based compensation, rose 20% to $2.4 million. Net loss for the first half on a GAAP basis was $626,000, down from $4.2 million a year ago.
“Our revenue and earnings did not meet our expectations for the quarter due to some license deals that pushed out of the quarter and longer than expected ramp times for some of our existing sales force,” says Jim MacIntyre, CEO. “We did, however, end the quarter with a healthy pipeline and made significant progress in adding capable enterprise sales representatives to our team.”
The company added 69 clients in the second quarter, including My Travel and British Airways.