Onvia Reports Strong Second Quarter 2009 Results

Posted by editor on August 6th, 2009

Revenue Up 21% Year-Over-Year to $6.2 Million, Driving EBITDA of $285,000; Annual Contract Value Up 19% Year-Over-Year to $21.7 Million

SEATTLE, WA - August 6, 2009 - Onvia, Inc. (NASDAQ: ONVI), a leading provider of comprehensive sales intelligence, reported financial results for the second quarter ended June 30, 2009.

Q2 2009 Highlights

Revenue totaled $6.2 million, up 21% vs. Q2 2008
Gross margin increased 2% to 80% vs. Q2 2008
EBITDA of $285,000 or $0.03 per share - first positive EBITDA in several quarters
Fifth consecutive quarter of Annual Contract Value growth, up 19% to $21.7 million vs. Q2 2008
Annual Contract Value per Client increased 15% vs. Q2 2008
Cash, cash equivalents and short-term investments increased $375,000 from the previous quarter to $13.8 million