LANHAM, MD: Vocus reported $22.3 million in revenue for Q1, a 9% increase over the same period last year.
The company also reported a net loss of $579,000, compared to $478,000 for the same period last year. The operating loss for the first quarter of 2010 was $549,000 compared to income from operations of $296,000 for the same period last year.
Frank Strong, director of PR for Vocus attributed the losses to increased spending and investment in industry products and services, which include a social media tool that will be released in May. "We consider now to be the time to invest and we consider the social media market as a very important area,” he said.
In addition the company recently expanded its salesforce by 20% and moved to larger offices.
Separately Vocus also announced two international acquisitions: French company Datapresse, which sells on-demand PR software and recently launched a European media database and online press release distribution service, and China-based DBL Media, an online news release company which provides PR software and services, including media relations, news monitoring, and news distribution.