RealTime IT News

Spike's Doubled Revenue May Pave a Path to Asia-Pacific

Spike Networks Ltd. Monday reported that its revenues skyrocketed up 112 percent from last year's figures.

The company reported revenues of $2.312 million during the three months to September 30.

Spike has already expanded its operations in Australia, the United States and Japan, and the company now says it will use its revenue to "aggressively target" new opportunities in these regions as well as to enter new markets in the Asia-Pacific region, most likely through the acquisition trail.

"The revenues for the remainder of the year are forecast to increase significantly and, based on the continued strength of the company's services division and the activities associated with SpikeRadio, we are confident that the company is well on track to achieve its year end forecast revenues of $20 million," said C. Chris O'Hanlon, CEO of Spike Networks.

Spike listed on the Australian Stock Exchange in July, but was met with a lukewarm reception after heavy initial interest from investors. Spike opened its its Tokyo office this year in conjuction to its alliance with I&S/BBDO.