Harris Interactive Inc.’s cost-cutting measures continue to boost its bottom line, despite a slight decline in revenues for its fiscal third quarter.
The market research firm on Thursday reported net income of $1 million, or 2 cents a share, compared with a net loss of $300,000, or a penny a share, during the third quarter 2012.
Revenues were $33.6 million for the fiscal third quarter, down from $34.1 million a year ago. Harris Interactive’s operating income for the quarter was $1.1 million, compared with an operating loss of $400,000 during the same period a year ago.
“Raising adjusted EBITDA guidance on strong Q3 results demonstrates further improvement in our business model and the turnaround effort,” said CEO Albert Angrisani, in a statement. “Sales remain a challenge, but essentially flat year-to-date sales versus the prior year are indicative of a gradual improvement across many, but not all, of our business units.”
Harris Interactive stock (Nasdaq: HPOL) was trading at $1.72 late Friday morning, up 2 cents from Thursday’s close.
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