InnerWorkings Achieves Record Revenue of $260.3M in Q2 2014, a 23% Increase Over Q2 2013August 7, 2014
CHICAGO—August 7, 2014—InnerWorkings Inc., the leading global marketing execution firm, has reported results for the three months ended June 30, 2014.
"Our core enterprise business fueled record revenue for us in the second quarter. A large portion of this growth came from expanding our relationships with several of our long-standing Fortune 500 customers," said Eric D. Belcher, CEO of InnerWorkings.
Additional financial and operational highlights include the following:
- Organic enterprise account growth was $27 million in the second quarter, a 13 percent increase over the prior-year period.
- The company recently signed new enterprise agreements with Sanofi, a global pharmaceutical firm; Newsday, one of the largest newspaper publishers in the United States; and Edrington, the owner of leading spirits brands around the world.
- The North America segment accounted for 70 percent of revenue and international segments accounted for 30 percent, compared to a 77 percent/23 percent mix in the second quarter of 2013.
"Our international regions continue to generate strong organic growth, which positions us well for improved EBITDA margin in the second half of the year," noted Joseph M. Busky, CFO of InnerWorkings.
The company reaffirms its 2014 revenue guidance of $965 million to $1 billion, which reflects 8 to 12 percent growth over 2013. The company also reaffirms its 2014 Non-GAAP diluted earnings per share guidance of $0.23 to $0.27, compared to $0.09 in 2013.
InnerWorkings Inc. (NASDAQ: INWK) is the leading global marketing execution firm serving Fortune 500 brands across a wide range of industries. As a comprehensive outsourced enterprise solution, the company leverages proprietary technology, an extensive supplier network and deep domain expertise to streamline the production of branded materials and retail experiences across geographies and formats. InnerWorkings is based in Chicago, employs approximately 1,500 individuals, and maintains 67 global offices in 30 countries. Among the many industries InnerWorkings serves are: retail, financial services, hospitality, consumer packaged goods, not-for-profits, healthcare, food and beverage, broadcasting and cable, and transportation.
Source: InnerWorkings Inc.