Next Fifteen releases financials

SAN FRANCISCO: Next Fifteen, parent company of Text 100, Bite Communications, and OutCast Communications, has released the interim results for the first six months of fiscal year 2006.

SAN FRANCISCO: Next Fifteen, parent company of Text 100, Bite Communications, and OutCast Communications, has released the interim results for the first six months of fiscal year 2006.

The company reports that revenue for the six months is $46.5 million, up 29.6% from $35.9 million during the first six months of 2005.

Adjusted profit before taxes increased 22.4%, and adjusted earnings per share were up 17.6%.

The interim results pointed to several events that led to such growth, including significant revenue growth in the US, which was up 58% following the June acquisition of OutCast.

And revenue growth from existing clients in Asia was up 32%.

Other events from the past six months include Bite's acquisition of Parachute Marketing in the US, and Credo Communications in the UK.

Next Fifteen also increased its stake in UK firm Lexis PR to 51%, with the remaining equity to be purchased over the next four years.

Next Fifteen's growing stake in Lexis reflects its desire to move beyond technology PR. Lexis focuses on consumer, b-to-b, health care, and sports clients.

Next Fifteen achieved record revenues, profitability, and earnings during those initial six months of 2006, said Next Fifteen chairman Will Whitehorn, in a statement. He singled out Bite and Outcast for "strong revenue and profit growth."

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