Harris Interactive® Reports Third Quarter Fiscal 2013 Results

ROCHESTER, N.Y., May 2, 2013 /PRNewswire/ -- Harris Interactive Inc. (NASDAQ: HPOL), a leading global market research firm, today announced its third quarter fiscal 2013 financial results.

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Al Angrisani, President and Chief Executive Officer of Harris Interactive, commented, "Raising adjusted EBITDA guidance on strong Q3 results demonstrates further improvement in our business model and the turnaround effort. 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."

Eric Narowski, Chief Financial Officer of Harris Interactive, commented, "Based on current market conditions and forecasts, we are raising our adjusted EBITDA guidance for the fiscal year ending June 30, 2013 to between $14.0 and $15.0 million. Additionally, we are introducing full fiscal 2013 revenue guidance of between $139.0 and $141.0 million. Performance at these levels will allow us to continue to improve our balance sheet and pay off our remaining bank debt by fiscal year end."

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1. All amounts shown reflect our Asian operations as discontinued operations.
2. Amounts include the impact of foreign currency exchange rate differences. Excluding the impact of foreign currency exchange rate differences, revenue for the three and nine months ended March 31, 2013 decreased by 1% and 6%, respectively, over the same prior year periods.
3. Operating income for the three and nine months ended March 31, 2013 did not include any restructuring or other charges, compared with $(19) thousand and $5.3 million, respectively,  for the same prior year periods.
4. EBITDA is a non-GAAP measure. Adjusted EBITDA, also a non-GAAP measure, is EBITDA with stock-based compensation added back.
5. Amounts include the impact of foreign currency exchange rate differences. Excluding the impact of foreign currency exchange rate differences, bookings for the three and nine months ended March 31, 2013 decreased by 10% and 0.2%, respectively, over the same prior year periods.
6. Amounts include the impact of foreign currency exchange rate differences. Excluding the impact of foreign currency exchange rate differences, secured revenue at March 31, 2013 increased by 10% over the same prior year period.

Third Quarter Fiscal 2013 Results Conference Call and Webcast Access

Al Angrisani, President and Chief Executive Officer, will host a conference call to discuss these results on Thursday, May 2, 2013, at 5:00 p.m. ET. Formal remarks will be followed by a question and answer session.

To access the conference call, please dial toll-free 877.303.9858 in the United States and Canada, or 408.337.0139 internationally.

A live webcast of the conference call also will be accessible via the Investor Relations section of our website at https://harrisinteractives.com/, where an archived replay of the webcast will be available for 30 days following the call. No telephone replay of the conference call will be provided. This media release will be available under the Investor Relations section of our website at https://harrisinteractives.com/ prior to the call.

Cautionary Note Regarding Forward Looking Statements

Certain statements in this press release and oral statements made by the Company on its conference call constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, among others, statements as to future economic performance, projections as to financial items, estimates, and plans and objectives for future operations, products and services. In some cases, you can identify forward-looking statements by terminology such as, "may", "should", "expects", "plans", "anticipates", "feel", "believes", "estimates", "predicts", "potential", "continue", "consider", "possibility", or the negative of these terms or other comparable terminology. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Such risks and uncertainties include, without limitation, risks detailed in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K, as updated quarterly in our Quarterly Reports on Form 10-Q to reflect additional material risks. The Company has filed its reports on Forms 10-K and 10-Q with the Securities and Exchange Commission, and they are available under the Investor Relations section of our website at https://harrisinteractives.com/. Risks and uncertainties also include the continued volatility of the global macroeconomic environment and its impact on the Company and its clients, the Company's ability to sustain and grow its revenue base, the Company's ability to maintain and improve cost efficient operations, the impact of reorganization, restructuring and related charges, quarterly variations in financial results, the Company's ability to maintain compliance with certain NASDAQ listing requirements, actions of competitors, the Company's ability to develop and maintain products and services attractive to the market, and the Company's ability to remain in compliance with the financial covenants in its credit agreement.

You are urged to consider these factors carefully in evaluating such forward-looking statements and are cautioned not to place undue reliance on them. The forward-looking statements are qualified in their entirety by this cautionary statement.

About Harris Interactive

Harris Interactive is one of the world's leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll® and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client's research investment. Serving clients in more than 196 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us - and our clients-stay ahead of what's next. For more information, please visit www.harrisinteractive.com.

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SOURCE Harris Interactive