Friday, July 28, 2006
Omniture Reports Results, Buys Patents
Orem, Utah-based Omniture reported its second quarter results yesterday evening, reporting that it had a loss of $3.7M on second quarter revenues of $18.8M. The company also reported that its net proceeds from its IPO were $62.3M before offering costs. The firm said that the revenue growth was a 98 percent increase over the same period last year, and fifteen percent over the first quarter of 2006. Separately, Omniture said that it has purchased nine patents from IBM in the area of Web analytics, business optimization, and behavioral targeting. Terms of the patent purchase were not disclosed, but the firm said that it now has 14 issued patents and 44 patent applications pending. Omniture is a provider of web analytics software for the E-commerce industry.