SapientNitro announces second quarter service revenue increase of 10% to $279m
Digital agency SapientNitro has announced an increase in service revenues of 10 per cent to $279m during the second quarter of 2012.
The company, which has three divisions, SapientNitro, Sapient Global Markets and Sapient Government Services, had also previously seen service revenues increase by seven per cent ($18.4m) during the first quarter of 2012 as well.
However, the company saw a fall in the cash it generated from its operations, with $17.5m in the second quarter of 2012, against last year’s figure of £38.4m during the same period, with $37m being spent to repurchase common stock through its buyback strategy in the last quarter.
Sapient has forecast service revenues of between $277m and $284m during the third quarter, ending 30 September, and a growth of service revenues of between eight and 10 per cent for the year ending 31 December.
Alan J. Herrick, president and CEO of SapientNitro, commented; “We are very pleased with our second quarter results, with all areas of the business showing strength despite the ongoing uncertainty of the global macroeconomic environment.
“We remain confident in the strength of our position to address the market opportunities ahead," he added
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SapientNitro, part of Sapient, is an integrated marketing and technology services firm. We create and engineer highly relevant experiences that accelerate business...
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