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Harris Interactive® Reports Third Quarter Fiscal 2010 Results

Harris Interactive Inc. (NASDAQ: HPOL), a leading innovative global market research firm, today announced its financial results for the third quarter of fiscal 2010. Kimberly Till, President and Chief Executive Officer of Harris Interactive, said, “While I believe that we have made significant progress throughout this fiscal year in executing on many of our key initiatives, as well as improving our overall financial performance, we still have more work to do to achieve greater revenue and profit growth. I believe that we have maintained an appropriate cost structure, so our primary focus right now is on building our revenue base, especially in the U.S. I am working closely with our U.S. industry sector heads to significantly increase our sales activity and pipeline to help drive as much revenue as possible in Q4 and beyond. One of the keys to increasing revenue will be the successful roll-out of several cutting edge offerings that we have recently commercialized and are now introducing to the market.”

Financial Highlights

         
  For the Three Months   For the Nine Months Ended
    Ended March 31,   March 31,
$ in millions – unaudited   2010   2009   2010   2009
                 
Revenue   $ 41.2     $ 39.9     $ 124.8     $ 140.9  
Operating loss   $ (0.9 )   $ (7.3 )   $ (0.7 )   $ (56.4 )
Net loss   $ (1.6 )   $ (6.7 )   $ (0.9 )   $ (74.6 )
Fully diluted net loss per share   $ (0.03 )   $ (0.12 )   $ (0.02 )   $ (1.39 )
                 
Adjusted EBITDA*   $ 1.3     $ (4.8 )   $ 6.0     $ (7.4 )

Adjusted EBITDA* with add-back of restructuringand other charges

  $ 1.4     $ 0.5     $ 6.7     $ 4.4  

*EBITDA is a non-GAAP measure. Adjusted EBITDA, also a non-GAAP measure, is EBITDA less stock-based compensation and non-cash goodwill impairment charges.

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