Cision revenue down 18%, operating profit jumps 51%

STOCKHOLM: Cision reported $39.4 million in operating revenue for the quarter ending in September, an 18% decrease from $48.2 million from the same period last year.

STOCKHOLM: Cision reported $39.4 million in operating revenue for the quarter ending in September, an 18% decrease from $48.2 million from the same period last year.

The company said in its earnings statement that divestments and acquisitions during the year reduced operating revenue by $6.8 million and changes in exchange rates by nearly $300,000, compared to the same period last year.

Total operating revenue for the year so far is $128 million, down 25% percent from $172 million the same time period last year. Operating profit excluding restructuring costs, goodwill, and one-offs for the quarter ending in September was $5.6 million, up 51% from $3.7 million in the same period last year.

“In North America, margins remain at a very solid level and in Cision Europe, the turn-around is progressing according to plan following the divestments of loss-making monitor units and improvements in underlying operations,” said Cision CEO Hans Gieskes in the report.

*All figures were converted to US Dollars from the Swedish Krona using the XE currency converter.  

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