Sunday, November 11, 2007 1:56:47 PM
Revenues are UP. Check 10-Q.
http://biz.yahoo.com/e/071109/liox10-q.html
"Revenue for the quarter ended September 30, 2007 was $111.5 million, an increase of $3.6 million, or 3.3%, from $108.0 million for the quarter ended September 30, 2006. Revenue growth during the third quarter of 2007 in each of the GLC, GDT and Interpretation segments was $724,000, $2.6 million and $228,000, respectively. As compared to the quarter ended September 30, 2006, the Company's revenue increased approximately $2.9 million as the result of organic growth and approximately $4.0 million due to the decline in the exchange rate of the U.S. dollar against most foreign currencies. This increase in revenue related to a decline in the U.S dollar's exchange rates was partially offset by a $3.3 million increase in deferred revenue which negatively impacted comparative recognized revenue in the GLC business. Lionbridge conducts a large portion of its business in international markets. Although a majority of Lionbridge's contracts with clients are denominated in U.S. dollars, approximately 47.9% and 46.5% of its revenue is denominated in foreign currencies for the quarter ended and nine months ended September 30, 2007, respectively. The principal foreign currency applicable to our business is the Euro. Approximately 34.1% and 32.0% of revenue was denominated in Euro for the quarter and nine months ended September 30, 2007, respectively. During the quarter ended September 30, 2007, the U.S. dollar declined against most foreign currencies, in particular the Euro. A fluctuation in foreign currency exchange rates primarily affects the GLC business.
Revenue for the nine months ended September 30, 2007 was $334.8 million, an increase of $17.1 million, or 5.4%, from $317.6 million for the nine months ended September 30, 2006. The increase of $17.1 million consists of $8.8 million, $8.3 million and $94,000 of revenue growth in the GLC, GDT and Interpretation segments, respectively. As compared to the nine months ended September 30, 2006, revenues increased approximately $9.2 million as the result of organic growth and approximately $11.2 million due to the decline in the U.S. dollar's exchange rates, primarily affecting the GLC business, in particular the Euro, during the nine months ended September 30, 2007. As noted above, this increase was partially offset by the increase in deferred revenue in the GLC business.
Revenue from the Company's GLC business for the quarter ended September 30, 2007 increased $724,000, or 0.8%, to $87.2 million from $86.5 million for the quarter ended September 30, 2006. Revenue from the Company's GLC business for the nine months ended September 30, 2007 was $262.9 million, an increase of $8.8 million, or 3.5%, from $254.1 million for the nine months ended September 30, 2006. As compared to the nine months ended September 30, 2006, revenues increased approximately $1.3 million as the result of organic growth and approximately $10.8 million due to the decline in the U.S. dollar's exchange rates, in particular the Euro, during the quarter ended September 30, 2007. This increase was partially offset by the increase in deferred revenue in the GLC business. "
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