Alamy down 30% in third quarter
Alamy announced their results for the third quarter of 2009. Revenue was down 30% compared to the same quarter last year and flat compared to quarter two. This is the highest year on year decline so far this year (but quarter three 2008 was the strongest one of the year)
In his commentary Alamy CEO James West said:
“Q3 2009 results will reflect what we hope is the bottom of the downturn. It’s too early to predict what Q4 will look like, but I can say that September and October numbers have been very reassuring. Until we have more data, however, we’re sticking with our earlier forecast of a 15%-20% decrease on 2008.
We’re working on some exciting investments for 2010, which include further expansion of direct sales teams, some great new search features for customers, new products, new markets, and a faster service (we’ll have more to say about all this later).”
Not very good news from alamy but they are in a tough market and James is a smart guy. I hope for their sake and everyone elses that things turn around. I like that they share their numbers though. Thanks