infoUSA reports 6% revenue growth in Q2

By SiliconIndia   |   Monday, 21 July 2003, 07:00 Hrs
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OMAHA, Neb: InfoUSA, (Nasdaq:IUSA), a provider of information products, database marketing services, data processing services and sales and marketing solutions, has reported a 6% revenue growth in second quarter 2003. Net sales for the quarter were $78.8 million, up from $74.0 million in the second quarter of 2002. Operating income grew 21%, to $15.2 million versus $12.5 million for the second quarter of the prior year. The company says, increase in operating income resulted primarily from higher revenue.

Vin Gupta, Chairman and CEO, infoUSA, said, "We attribute our revenue growth to the recovering economy and to high demand for our sales leads. "

Gupta continued, "We are committed to growing our revenue internally. We believe that the market opportunity for our products and services exceeds $10 billion. Our entire management is focused on growing our revenue by increasing our market share."

"In addition to growing our revenue, we continue to be committed to the goal of de-leveraging the company. We anticipate that internal revenue growth, combined with strict expense control and lower interest costs, will enable us to accelerate our future growth in earnings and in shareholder value."

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