Alamy reports latest results, down 13% in fourth quarter

UK Stock Photography company Alamy has posted their quarter four 2009 results. Revenue dropped by 13% versus the fourth quarter of 2008. This was better than the expected 15-20% drop. Revenues were £1,8 million which beat 2009 quarter three revenues of £1,7o million and quarter two of £1,78 million.

Royalty free licensing is on a steady but clear decline from 31% in the fourth quarter of 2007 to 24% in the last quarter of 2009. 82% of images sold are now rights managed. 78% of licenses are for editorial usages, a number that has been steady since 2007. On the Alamy blog, the company’s CEO, James West said:

“Our financial position remains strong however, with a 6.5% operating profit last year – just a couple of percentage points below our ‘business as usual’ number.”

“Despite the challenging year we have been investing in new infrastructure, product, and putting marketing plans together for a suite of new services coming online later this year. Our US sales operation is also continuing to grow. To support the sales team we have added a US customer service division (handling inbound calls and emails).

Alamy remains cautious about the immediate future due to ongoing uncertainties.