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Omniture, Inc. (OMTR) Stock Up More than 20% on Positive Financial Results

Yesterday, Omniture announced its financial results for the fourth quarter and fiscal year ended December 31, 2008. Omniture achieved record revenues during the fourth quarter, totaling $83.0 million, a 93% increase over the $43.1 million reported for the fourth quarter of 2007.

“We are seeing real proof points that our transition from a web analytics company to an optimization company has been completed. For example, our annual deal size has increased by over 50% from 18 months ago and 50% of our bookings are now coming from up-sells and cross-sells of optimization products to our existing customers,” commented Josh James, CEO and co-founder. “2009 is about tying together the many building blocks we have assembled, including expanding our partner ecosystem, and focusing on delivering even deeper integration with our products for our loyal enterprise customers.”

For the full year of 2008, Omniture generated record revenue of $296 million, compared to $143 million in 2007, an increase of 107%. Omniture’s non-GAAP net income was reported at $32.0 million, or $0.42 per diluted share, for 2008, compared to non-GAAP net income of $11.8 million, or $0.20 per diluted share, for the year prior.

According to the press release, Omniture added over 250 new customers in the fourth quarter, bringing its total to more than 5,100. New customer relationships secured in the fourth quarter include: Carnival Cruise Lines, Expressen, Hyundai, Irish Life & Permanent plc, Kohl’s, Norwegian Cruise Line, Red Box Automated Retail, LLC, Starbrands, The Scotts Miracle-Gro Company, Timex and United Way America.

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