InnerWorkings Posts Record Revenues
CHICAGO—InnerWorkings Inc., a provider of global print management and promotional solutions, reported results for its fourth quarter and fiscal year ended Dec. 31, 2011. The company reaped record revenues of $175.2 million in the fourth quarter, an increase of 34 percent over 2010. It was the fifth consecutive quarter in which InnerWorkings set a new revenue standard.
Among the other highlights from the quarterly report:
• Net income was $5.8 million, an increase of 63.1 percent compared to $3.5 million in the year-earlier period.
• Record Adjusted EBITDA of $11.4 million, an increase of 45 percent compared to $7.9 million in the year-earlier period.
• Year-over-year enterprise revenue growth of 31.7 percent and transactional revenue growth of 42.0 percent.
InnerWorkings realized record revenue for fiscal year 2011 of $633.8 million, an increase of 31.4 percent compared to revenue of $482.2 million in fiscal year 2010. Net income was $16.4 million, compared to net income of $11.2 million in fiscal year 2010, an increase of 46.2 percent.
“Our record 2011 financial results were driven by successful execution against our strategic priorities and the breadth of our global platform,” said Eric Belcher, CEO of InnerWorkings. “Moving into 2012, we are focused on winning global print management contracts and gaining share in the under-served middle market.”