Cision And PRWeek Release 2019 Global Comms Report: The Path To Progress, Demonstrating The Rise Of Earned Media

On average, 34% of overall media budgets go to earned media, a 1.3x increase over last year CHICAGO, Nov. 19, 2019 /PRNewswire/ -- Cision (NYSE: CISN) and PRWeek today announced the release of their third annual 2019 Global Comms Report: The Path to Progress. The report surveyed more than 500 senior-level PR and marketing professionals in seven countries to uncover recent trends in communications. Among other findings, the 2019 Global Comms Report reveals that increased investments in data and shifts in social media strategy are helping comms teams clearly demonstrate their impact on a company's bottom line. The Path to Progress presents comparative year-on-year data that spotlights key trends shaping the comms discipline – including the finding that earned media is on the rise. 34% of global respondents' overall media budget goes to earned media, up from 26% last year. Looking at U.S. respondents only, earned media's prevalence is even more apparent. Notably more budget goes to earned media (39%) than paid media (31%), which has seen its share growth plateau since 2018 and now sits near owned media, which has 30% of the spend in the U.S. Key takeaways from the report also include: 67% of communicators believe the press release remains a major media communications tool Instagram has grown in significance, with 22% selecting it as their most important social channel, up from 9% last year, passing Twitter and closing in on Facebook in importance 61% focus their engagement efforts on mainstream journalists, an increase over last year 67% feel confident they know how many people are actually reading their content, an increase in confidence in actual reach metrics over last year "At Cision, we recognize the tremendous value of original research in better understanding the challenges and opportunities ahead for our industry," said Jenn Deering Davis, VP of Global Comms, Content and Brand at Cision. "The themes emerging in this year's survey highlight a lot of what our clients and even our own comms team face every day. Among many takeaways, it's particularly interesting to see what this report tells us about the evolving perspectives on influencers and social media, as these tactics become even more mainstream and mature." Among survey results, the 2019 Global Comms Report offers insights into: Noteworthy shifts in both the most impactful influencers and content platforms Evidence that traditional media still carries sway How PR pros are gaining more impact in the C-suite and across the business How effectively PR is deciphering the data it collects Comms' current financial commitment to data and analytics The biggest challenges PR pros face and how they overcome them with data and technology "What excites me most about PRWeek's collaboration with Cision on the third-annual Global Comms Report is how it brings into clear focus the progress the industry has made – both tactically and reputation-wise," said Gideon Fidelzeid, managing editor of PRWeek. "The global data collected by the study does more than just tell a great story in and of itself. It's instructive and serves as counsel to any PR pro seeking a tactical or strategic edge." To read the full 2019 Global Comms Report, click here. For more, join Cision's Jenn Deering Davis and PRWeek's Gideon Fidelzeid on Wednesday, December 11th for a webcast that will transform the report's data into real-world counsel that can be implemented to bolster your earned media management efforts. To register, click here. Survey Methodology: PRWeek partnered with Cision on this survey, which was sent via email to both communications and marketing professionals in seven countries around the world: The U.S., Canada, U.K., France, Germany, Sweden, and China (including Hong Kong). A total of 527 senior-level professionals, from both agencies and in-house, completed the online survey, conducted by Bovitz, between July 11 and August 12, 2019. Results are not weighted and are statistically tested at confidence levels of 90% and 95%. About Cision Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. About PRWeek PRWeek epitomizes the modern business publishing brand, spanning online, print, events, and social media, incorporating a paid-for content strategy and gated website. Launched  in November 1998, it is the essential title for PR pros. PRWeek reflects an industry playing a more pivotal role than ever, not only in the marketing strategies of companies, brands, and organizations, but also within boardrooms and in the C-suite. In the transparent world epitomized by social media, corporate reputation is crucial. Executives need timely, authoritative, insightful content to navigate this landscape — that's where PRWeek comes in. Breaking news, analysis, and opinion fuels PRWeek's content. And the brand extends into the iconic PRWeek Awards, annual conferences, roundtables, webcasts, and virtual forums. For more, visit prweek.com. Media Contacts:  Cision: Rebecca Dersh PR Manager cisionpr@cision.com PRWeek: Gideon Fidelzeid Managing Editor gideon.fidelzeid@prweek.com View original content to download multimedia:http://www.prnewswire.com/news-releases/cision-and-prweek-release-2019-global-comms-report-the-path-to-progress-demonstrating-the-rise-of-earned-media-300960346.html

2019-11-19 10:08

Cision Reports Third Quarter 2019 Results

CHICAGO, Nov. 7, 2019 /PRNewswire/ -- Cision Ltd. (NYSE: CISN), a leading global provider of earned media software and services to public relations and marketing communications professionals, today reported results for the third quarter ended September 30, 2019. Financial Highlights Third Quarter 2019 Revenue increased 4.7% to $185.7 million Revenue, excluding the impact of purchase accounting, increased 6.7% to $189.4 million Operating income increased 46.3% to $20.6 million Net income was $2.4 million versus a prior year net loss of $6.2 million Adjusted EBITDA was $68.1 million Adjusted net income increased 17.7% to $31.2 million Adjusted net income per share was $0.21 "We are pleased to have delivered another strong quarter of financial results. Our business continues to perform well, with third quarter 2019 organic constant currency revenue growth of 4.7% versus the prior year," said Kevin Akeroyd, Cision's Chief Executive Officer. "We are well positioned for the remainder of 2019 and continue to make solid progress on both our operational priorities and delivering world-class products and services to our public relations and marketing communications customers." Third Quarter Operational Highlights Americas revenues increased 2.8% to $126.1 million EMEA revenues increased 7.8% to $50.2 million APAC revenues increased 15.8% to $9.3 million Conference Call and Webcast Cision will not be holding a conference call to review third quarter 2019 financial results. Merger Agreement On October 22, 2019, Cision Ltd. entered into a definitive agreement to be acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.74 billion. Under the terms of the agreement, which has been unanimously approved by the members of Cision Ltd.'s board of directors, an affiliate of Platinum Equity will acquire all of the outstanding ordinary shares of Cision Ltd. for $10.00 per share in cash. The proposed transaction is expected to close in the first quarter of 2020 and is subject to approval by Cision Ltd.'s shareholders, along with the satisfaction of customary closing conditions and antitrust regulatory approvals, as necessary. Upon completion of the acquisition, Cision Ltd. will become wholly owned by an affiliate of Platinum Equity. Cision Ltd. may solicit alternative acquisition proposals from third parties during a "go-shop" period from the date of the agreement until November 12, 2019. There is no guarantee that this process will result in a superior proposal, and the agreement provides Platinum Equity with a customary right to match a superior proposal and termination fee if a superior proposal is accepted.  Cision Ltd. expects the deal to close in Q1 2020.  Forward-Looking Statements Certain statements in this communication are forward-looking statements, including, without limitation, the statements made concerning the proposed transaction, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "aim," "potential," "continue," "ongoing," "goal," "can," "seek," "target" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in any such forward-looking statement. Those risks, uncertainties and assumptions include: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the Company's business and the price of the Company's ordinary shares; (ii) the failure to satisfy any of the conditions to the consummation of the proposed transaction, including the authorization of the merger agreement by the Company's shareholders and the receipt of certain regulatory approvals; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement; (iv) the effect of the announcement or pendency of the proposed transaction on the Company's business relationships, operating results and business generally; (v) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; (vi) risks related to diverting management's attention from the Company's ongoing business operations; (vii) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the proposed transaction, (viii) unexpected costs, charges or expenses resulting from the proposed transaction; (ix) uncertainties as to Platinum Equity's ability to obtain financing in order to consummate the merger; and (x) other risks described in the Company's filings with the SEC, such as its Annual Report on Form 10-K for the year ended December 31, 2018. Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. Except as required by applicable law or regulation, the Company does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise. Additional Information and Where to Find It In connection with the proposed transaction, the Company will file with the Securities and Exchange Commission (the "SEC") and furnish to the Company's shareholders a proxy statement. BEFORE MAKING ANY VOTING DECISION, THE COMPANY'S SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT (IF ANY) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and shareholders may obtain a free copy of documents filed by the Company with the SEC at the SEC's website at http://www.sec.gov. In addition, investors and shareholders may obtain a free copy of the Company's filings with the SEC from the Company's website at http://investors.cision.com or by directing a written request to: Cision Ltd., Attn: Secretary, 130 E. Randolph St., 7th Floor, Chicago, IL 60601. Participants in the Solicitation The Company and certain of its directors, executive officers, and certain other members of management and employees of the Company may be deemed to be participants in the solicitation of proxies from shareholders of the Company in favor of the proposed merger. Information about directors and executive officers of the Company is set forth in the proxy statement for Cision's 2019 annual general meeting of shareholders, as filed with the SEC on Schedule 14A on August 9, 2019. Additional information regarding the interests of these individuals and other persons who may be deemed to be participants in the solicitation will be included in the proxy statement with respect to the merger that the Company will file with the SEC and furnish to the Company's shareholders. About Cision Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision.   Cision Ltd. and its Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except per share and share amounts) (Unaudited)     September 30, 2019   December 31, 2018 Assets       Current assets:         Cash and cash equivalents $                     94,929   $                104,769   Accounts receivable, net 126,975   120,882   Prepaid expenses and other current assets 38,897   22,824         Total current assets   260,801   248,475 Property and equipment, net 62,788   57,210 Other intangible assets, net 376,860   377,146 Goodwill 1,411,646   1,171,859 Operating lease right-of-use assets 59,993   - Deferred tax asset 4,123   4,034 Other assets 9,296   7,652         Total assets   $                2,185,507   $            1,866,376 Liabilities and Stockholders' Equity       Current liabilities:         Current portion of long-term debt $                     13,881   $                  13,210   Accounts payable 12,867   15,603   Accrued compensation and benefits 35,057   29,323   Operating lease liabilities 14,139   -   Other accrued expenses 61,820   82,507   Current portion of deferred revenue 161,848   139,725         Total current liabilities   299,612   280,368 Long-term debt, net of current portion 1,261,926   1,205,760 Deferred revenue, net of current portion 968   1,098 Operating lease liabilities, net of current portion 59,514   - Deferred tax liability 74,062   69,232 Other liabilities 9,986   21,601         Total liabilities   1,706,068   1,578,059 Commitments and contingencies       Stockholders' equity:         Preferred stock, $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding at September 30, 2019 and December 31, 2018         -   -   Common stock, $0.0001 par value, 480,000,000 shares authorized; 148,478,535 and 132,716,541 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively         15   13   Additional paid-in capital 988,364   797,222   Accumulated other comprehensive loss (75,204)   (68,941)   Accumulated deficit (433,736)   (439,977)         Total stockholders' equity   479,439   288,317         Total liabilities and stockholders' equity   $                2,185,507   $            1,866,376   Cision Ltd. and its Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except for per share amounts) (Unaudited)         Three months ended September 30,    Nine months ended September 30,        2019   2018   2019   2018 Revenue $                        185,653   $                        177,236   $                   561,953   $                  544,004 Cost of revenue 63,408   69,177   198,240   200,212     Gross Profit 122,245   108,059   363,713   343,792                     Operating costs and expenses:                 Sales and marketing 30,708   27,503   96,370   85,630   Research and development 7,153   7,292   23,021   22,282   General and administrative 44,988   39,002   142,464   126,762   Amortization of intangible assets 18,770   20,167   56,444   60,681     Total operating costs and expenses 101,619   93,964   318,299   295,355     Operating income 20,626   14,095   45,414   48,437                     Non operating income (expense):                 Foreign exchange gains 8,062   2,196   5,918   10,277   Interest and other income, net 279   380   840   472   Gain on sale of business -   -   28,144   -   Interest expense (18,209)   (19,785)   (56,392)   (59,947)   Loss on extinguishment of debt -   -   (355)   (2,432)     Total non operating loss (9,868)   (17,209)   (21,845)   (51,630)     Income (loss) before income taxes 10,758   (3,114)   23,569   (3,193) Provision for income taxes 8,393   3,070   17,328   10,016     Net income (loss) $                           2,365   $                          (6,184)   $                       6,241   $                  (13,209) Other comprehensive loss-                  foreign currency translation adjustments (12,169)   (2,479)   (6,263)   (20,796)     Comprehensive loss $                          (9,804)   $                          (8,663)   $                           (22)   $                  (34,005)                     Net income (loss) per share:                 Basic $                              0.02   $                            (0.05)   $                         0.04   $                      (0.10)   Diluted $                              0.02   $                            (0.05)   $                         0.04   $                      (0.10) Weighted average shares outstanding used                 in computing per share amounts:                 Basic 148,131,135   131,104,859   147,215,180   127,507,314   Diluted 148,520,974   131,104,859   147,257,092   127,507,314   Cision Ltd. and its Subsidiaries Condensed Consolidated Statements of Cash Flows (in thousands) (Unaudited)           Nine months ended September 30,          2019   2018 Cash flows from operating activities       Net income (loss) $                     6,241   $                 (13,209) Adjustments to reconcile net income (loss) to net cash provided by operating activities:         Depreciation and amortization 93,709   100,186   Non-cash interest charges and amortization of debt discount and deferred financing costs 7,426   10,158   Equity-based compensation expense 8,206   3,713   Provision for doubtful accounts 4,579   3,972   Deferred income taxes (332)   3,437   Unrealized currency translation gains  (6,528)   (10,338)   Gain on sale of business (28,144)   -   Payment of contingent consideration (4,296)   -   Other -   86   Changes in operating assets and liabilities, net of effects of acquisitions and disposal:           Accounts receivable 609   967     Prepaid expenses and other current assets  (7,568)   (848)     Other assets  (976)   (726)     Accounts payable (4,889)   (1,721)     Accrued compensation and benefits 3,229   (321)     Other accrued expenses (16,944)   (7,320)     Deferred revenue 11,658   1,767     Other liabilities and net change in operating leases 1,488   (14)       Net cash provided by operating activities 67,468   89,789               Cash flows from investing activities       Purchases of property and equipment (8,774)   (10,325) Software development costs (22,531)   (12,026) Acquisitions of businesses, net of cash and restricted cash acquired of $6,068 and $2,711 (148,541)   (66,463) Proceeds from disposal of business 44,865   - Other   23   5       Net cash used in investing activities (134,958)   (88,809)               Cash flows from financing activities       Proceeds from revolving credit facility 40,000   - Repayment of revolving credit facility (40,000)   - Proceeds from term credit facility, net of debt discount of $1,013 73,987   - Repayments of term credit facility (10,471)   (59,989) Payments of deferred financing costs (1,619)   (294) Proceeds from the exercise of stock options 552   - Payment of contingent consideration (3,695)   (2,873)       Net cash provided by (used in) financing activities 58,754   (63,156) Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,104)   (2,286)       Decrease in cash, cash equivalents and restricted cash (9,840)   (64,462)               Cash, cash equivalents and restricted cash       Beginning of period 104,769   148,654 End of the period $                   94,929   $                  84,192 Use of Non-GAAP Financial Measures Non-GAAP results are presented only as a supplement to our financial statements based on US generally accepted accounting principles (GAAP). Non-GAAP financial information is provided to enhance the reader's understanding of our financial performance, but none of these non-GAAP financial measures are recognized terms under GAAP, and non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. Reconciliations of the most directly comparable GAAP measures to non-GAAP measures, such as Adjusted EBITDA, and Adjusted net income per share, are provided within the schedules attached to this release. We use non-GAAP measures in our operational and financial decision-making, believing that it is useful to exclude certain items in order to focus on what we deem to be a more reliable indicator of ongoing operating performance and our ability to generate cash flow from operations. As a result, internal management reports used during monthly operating reviews include Adjusted EBITDA, and Adjusted net income per share. Additionally, we believe that the presentation of non-GAAP measures provides information that is useful to investors as it indicates, for example, our ability to meet capital expenditures and working capital requirements and otherwise meet our obligations as they become due. Investors are cautioned that non-GAAP financial measures are not a substitute for GAAP disclosures. This communication also includes certain forward-looking non-GAAP financial measures. We are unable to present without unreasonable efforts a reconciliation of forward-looking non-GAAP financial information to the corresponding GAAP financial information because management cannot reliably predict all of the necessary information. Forward-looking non-GAAP financial information is based on numerous assumptions, including assumptions with respect to general business, economic, market, regulatory and financial conditions and various other factors, all of which are difficult to predict and many of which are beyond our control. Accordingly, investors are cautioned not to place undue reliance on this information. Non-GAAP measures are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to Cision, many of which present non-GAAP measures when reporting their results. These measures can be useful in evaluating our performance against our peer companies because we believe the measures provide users with valuable insight into key components of GAAP financial disclosures. However, non-GAAP measures have limitations as an analytical tool. Non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies. They are not presentations made in accordance with GAAP, are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. As a result, you should not consider such performance measures in isolation from, or as a substitute analysis for, results of operations as determined in accordance with GAAP. Cision Ltd. and its Subsidiaries Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (in millions) (Unaudited)     Three Months Ended September 30,   Nine Months Ended September 30,   2019   2018   Change   2019   2018   Change Net income (loss) $                  2.4   $                (6.2)   $                  8.6   $                  6.3   $              (13.2)   $               19.5 Depreciation and amortization 31.5   33.3   (1.8)   93.7   100.2   (6.5) Interest expense and loss on extinguishment of debt 18.2   19.8   (1.6)   56.7   62.4   (5.7) Income tax 8.4   3.1   5.3   17.4   10.0   7.4 EBITDA (1) 60.5   50.0   10.5   174.1   159.4   14.7 Acquisition and offering-related costs 8.7   12.8   (4.1)   39.1   32.6   6.5 Stock-based compensation 3.6   1.5   2.1   8.2   3.7   4.5 Deferred revenue reduction from purchase accounting 3.7   0.3   3.4   10.6   1.5   9.1 Gain on sale of business -   -   -   (28.1)   -   (28.1) Unrealized translation gain (8.4)   (2.1)   (6.3)   (6.6)   (10.3)   3.7 Adjusted EBITDA (2) $               68.1   $               62.5   $                  5.6   $             197.3   $             186.8   $               10.5   Cision Ltd. and its Subsidiaries Reconciliation of Net Income (Loss) to Adjusted Net Income and Adjusted Net Income per Diluted Share (in millions, except for per share and share amounts) (Unaudited)     Three Months Ended September 30,   Nine Months Ended September 30,   2019   2018   Change   2019   2018   Change Net income (loss) $                  2.4   $                (6.2)   $                  8.6   $                  6.3   $              (13.2)   $               19.5 Income tax 8.4   3.1   5.3   17.4   10.0   7.4 Acquisition and offering-related costs 8.7   12.8   (4.1)   39.1   32.6   6.5 Gain on sale of business -   -   -   (28.1)   -   (28.1) Stock-based compensation expense 3.6   1.5   2.1   8.2   3.7   4.5 Deferred revenue reduction from purchase accounting 3.7   0.3   3.4   10.6   1.5   9.1 Amortization related to acquired intangible assets 23.8   26.0   (2.2)   71.4   78.1   (6.7) Non-recurring interest and loss on extinguishment of debt -   0.4   (0.4)   0.4   4.3   (3.9) Unrealized translation gain (8.4)   (2.1)   (6.3)   (6.6)   (10.3)   3.7 Adjusted Income before income tax 42.2   35.8   6.4   118.7   106.6   12.1 Less: Income tax at a 26% rate (11.0)   (9.3)   (1.7)   (30.9)   (27.7)   (3.2) Adjusted net income (3) $               31.2   $               26.5   $                  4.7   $               87.8   $               78.9   $                  8.9 Pro forma fully-diluted weighted average shares outstanding 148,131   131,105   17,026   147,215   127,507   19,708 Adjusted net income per diluted share (4) $0.21   $0.20   $0.01   $0.60   $0.62   ($0.02)   Cision Ltd. and its Subsidiaries Reconciliation of Net Cash Provided by Operating Activities to Adjusted Net Cash Provided by Operating Activities (in millions) (Unaudited)     Three Months Ended September 30,   Nine Months Ended September 30,   2019   2018   Change   2019   2018   Change Net cash provided by operating activities $                34.7   $                26.2   $                  8.5   $                67.5   $                89.8   $              (22.3) Acquisition and offering-related costs 8.7   12.8   (4.1)   39.1   32.6   6.5 Adjusted net cash provided by operating activities (5) $                43.4   $                39.0   $                  4.4   $             106.6   $             122.4   $              (15.8)     (1) Cision defines EBITDA as net income (loss), plus depreciation and amortization expense, plus interest expense and loss on extinguishment of debt, plus provision for (or minus benefit from) income taxes.     (2) Cision defines Adjusted EBITDA as EBITDA, further adjusted for acquisition and offering related costs, stock-based compensation, deferred revenue reduction from purchase accounting, (gains) losses related to divested businesses or assets, sponsor fees and expenses, and unrealized translation losses (gains). All of the items included in the reconciliation from net income to Adjusted EBITDA are either non-cash items or are items that we consider to be less useful in assessing our operating performance. In the case of the non-cash items, we believe that investors can better assess our operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect our ability to generate free cash flow or invest in our business. For example, by excluding depreciation and amortization from EBITDA, users can compare operating performance without regard to different accounting determinations such as useful life. In the case of the other items, we believe that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.     (3) Cision defines Adjusted net income as net income (loss) plus provision for (or minus benefit from) income taxes, further adjusted for acquisition and offering related costs, (gains) losses related to divested businesses or assets, stock-based compensation, deferred revenue reduction from purchase accounting, amortization related to acquired intangibles, non-recurring interest and losses on extinguishment of debt, sponsor fees and expenses, and unrealized translation losses (gains), which together, sum to Adjusted net income (loss) before income taxes. Adjusted net income (loss) before income taxes is then taxed at an assumed long-term corporate tax rate of 26%. All of the items included in the reconciliation from net income to Adjusted net income are either non-cash items or are items that we consider to be less useful in assessing our operating performance. In the case of the non-cash items, we believe that investors can better assess our operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect our ability to generate free cash flow or invest in our business. For example, by excluding the amortization related to acquired intangibles, users can compare operating performance without regard to highly variable amortization expenses related to our acquisitions. In the case of the other items, we believe that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.     (4) Cision defines Adjusted net income per diluted share as Adjusted net income, as defined above, divided by the fully-diluted pro forma weighted average shares outstanding for the period. For purposes of calculating the number of fully diluted shares outstanding, we have excluded the potential impact of dilution from outstanding warrants to purchase shares of our common stock prior to the dates of their conversion, and stock options and restricted units issued and outstanding pursuant to our 2017 Omnibus Incentive Plan. During the Third quarter of fiscal 2018, we issued an aggregate of 6,342,989 ordinary shares (6,100,209 ordinary shares on May 18, 2018 and 242,780 ordinary shares on June 4, 2018), in exchange for all of our outstanding warrants, pursuant to the completion of our warrant exchange transactions. During the third quarter of 2018, we issued 2,000,000 ordinary shares for the earn-out achieved during the quarter. Commencing on these respective issuance dates, we included the issued shares in our fully-diluted pro forma weighted average share count.     (5) Cision defines Adjusted net cash provided by operating activities as net cash provided by operating activities adjusted for acquisition related costs and expenses.   Investor Contact: Jack Pearlstein Chief Financial Officer Jack.Pearlstein@cision.com  Media Contact: Jenn Deering Davis VP, Communications Jenn.Deering.Davis@cision.com View original content to download multimedia:http://www.prnewswire.com/news-releases/cision-reports-third-quarter-2019-results-300954067.html SOURCE Cision Ltd.

2019-11-14 15:31

Falcon.io acquires Unmetric, creating one of the most complete, unified Social Media Management Solutions in the market

CHICAGO, Oct. 24, 2019 /PRNewswire/ -- Cision (NYSE: CISN) today announced that Falcon.io, its social media management division, has acquired Unmetric, a leader in delivering insights from social benchmarking, audience engagement, and content performance. Unmetric delivers public data from leading global brands across social media channels, enabling companies to enhance their content strategy, better engage with their customers, and spend time where it matters, delivering on business objectives and ROI. Falcon.io will integrate Unmetric into their Social Media Marketing platform, enabling customers to drive consistent brand experiences across social content, engagement and insights.   "Our mission is to deliver a powerful social software suite that enables the brands we serve to win in their markets. Today the Unmetric acquisition gets us closer to this vision," said Ulrik Bo Larsen, Founder of Falcon.io and President, Cision Social. "Giving brands the ability to benchmark, monitor, measure, better engage with their customers and audiences, and create and publish powerful content all in one unified platform across multiple channels will help them win."  "Marketers are often data rich and insight poor. This is especially true in the content ecosystem where brands are communicating at the speed of culture. Brands, therefore, need to continually benchmark their social campaigns, content and channels, and use insights from the past to fuel campaigns for the future," said Lux Narayan, CEO of Unmetric. "Unmetric brings this historical perspective to the Falcon.io platform to help brands and agencies create more compelling content."  Falcon.io extends a warm welcome to the brands that Unmetric has been serving for years, such as Unilever, Pepsi, General Motors, Amgen, Bombardier, Edelman, TBWA, Homeaway, Away, GroupM and many more. Unmetric's social media marketing capabilities will be incorporated into the Falcon.io customer offering, and Unmetric's team will be integrated into the Falcon organization and continue to build and expand on the use cases they have successfully taken to market. About Cision Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. For more information about Falcon.io, visit www.falcon.io.  About Unmetric Unmetric helps brands and agencies get better engagement, more certainty, and faster reporting on their social media efforts. The company's enterprise platform enables digital marketers to research, plan and optimize branded social content, and analysts to report on learnings to create more engaging content. Hundreds of global brands and digital agencies use Unmetric's AI-powered insights on Twitter, Facebook, YouTube, and Instagram. For more information, visit www.unmetric.com. Media Contacts: Falcon.io Natasha Adams, VP of Marketing Natasha.adams@falcon.io   Cision Rebecca Dersh, PR Manager rebecca.dersh@cision.com  SOURCE Falcon.io Related Links http://www.falcon.io

2019-10-25 15:19

Cision Announces Latest Product Updates, Allowing Marketers to Retarget Earned Media Audiences

CHICAGO, Oct. 23, 2019 /PRNewswire/ -- Cision (NYSE: CISN) today announced significant new updates to the next generation Cision Communications Cloud® – the company's communications platform that delivers best-in-class earned media monitoring and analytics, media and social influencer campaign management, multi-channel press release distribution, and earned media retargeting.  Today's updates include a range of improvements to the Cision Communications Cloud's Impact product offering. Cision Impact, first released in late 2017, is a suite of solutions that allow PR and marketing professionals to prove and build on the value of earned media. This includes the new Cision Audiences and Cision Activation. With the launch of Audiences and Activation, brands are now able to capture and retarget earned media audiences at the peak of their content consumption. While Cision Audiences has been in an early access program since earlier this year, it is now widely available. Audiences helps brands identify and activate potential customers based on their earned media consumption for more than 2 million online sources, including articles, blog posts, and other content. With Audiences, clients can integrate earned media into paid and owned functions through comprehensive earned media analysis, persona creation, and campaign activation based on contextual media consumption. "The latest Cision Communications Cloud updates continue to push the industry forward, firmly cementing the comms team's seat at the marketing table," said Kevin Akeroyd, Cision CEO. "Our early access Impact clients have already seen incredible results from their use of Audiences and Activation, boosting the performance of their paid media spend using contextual earned media consumption. We're thrilled to now be able to introduce these tools to the broader market."   The latest enhancements to the next generation Cision Communications Cloud allow communications teams to: Know which media coverage results in traffic back to their website, which coverage gets in front of the right audiences for their goals, and which coverage reaches the largest actual audience. Build comprehensive personas based on the firmographic and demographic characteristics that matter to their business, to understand how each segment consumes media coverage and converts to their website. Activate audiences based on their contextual consumption of earned media coverage with targeted paid ad campaigns to reinforce brand messaging. Identify audiences based on their earned media consumption - including industry news and competitors' coverage - and then activate those audiences with messages about their own brand. "We all intuitively understand the power of earned media, but Cision helps us prove it," said Megan Tweed, Head of Performance Communications at Edelman. "We have seen tremendous results leveraging Cision Impact to identify and retarget earned media audiences. Edelman's Performance Communications clients are experiencing 3-5x increases in click-through rates (CTRs) and generating up to 12x in return on ad spend (ROAS) by reaching an incremental, high-value audience for paid activation." The latest updates to the next generation Cision Communications Cloud are available in the United States and Canada and will be available in other markets soon. To learn more, please visit www.cision.com. About Cision Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud, visit www.cision.com and follow Cision on Twitter @Cision. Media Contact: Rebecca Dersh PR & Earned Media Manager, Cision  cisionpr@cision.com  View original content to download multimedia:http://www.prnewswire.com/news-releases/cision-announces-latest-product-updates-allowing-marketers-to-retarget-earned-media-audiences-300943485.html SOURCE Cision

2019-10-23 15:31

Cision Ltd. Announces Agreement to Be Acquired by an Affiliate of Platinum Equity for $10.00 Per Share in All Cash Deal Valued at Approximately $2.74 Billion

Transaction Provides Immediate Value for Shareholders Acquisition Expected to Close in Q1 2020 CHICAGO, Oct. 22, 2019 /PRNewswire/ -- Cision Ltd. (NYSE: CISN), a leading global provider of software and services to public relations and marketing communications professionals, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.74 billion. Under the terms of the agreement, which has been unanimously approved by the members of Cision Ltd.'s board of directors, an affiliate of Platinum Equity will acquire all of the outstanding ordinary shares of Cision Ltd. for $10.00 per share in cash. The purchase price represents a 34% premium over Cision Ltd.'s 60-day volume-weighted average price ended on October 21, 2019. A special meeting of Cision Ltd.'s shareholders will be held as soon as practicable following the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission ("SEC") and subsequent mailing to its shareholders.  Certain affiliates of GTCR, collectively holding approximately 34% of the outstanding shares of Cision Ltd., have entered into a voting agreement committing them to, among other things, vote in favor of adopting the acquisition agreement.  The proposed transaction is expected to close in the first quarter of 2020 and is subject to approval by Cision Ltd.'s shareholders, along with the satisfaction of customary closing conditions and antitrust regulatory approvals, as necessary. Upon completion of the acquisition, Cision Ltd. will become wholly owned by an affiliate of Platinum Equity. Cision Ltd. may solicit alternative acquisition proposals from third parties during a "go-shop" period from the date of the agreement until November 12, 2019. There is no guarantee that this process will result in a superior proposal, and the agreement provides Platinum Equity with a customary right to match a superior proposal and termination fee if a superior proposal is accepted.  Cision Ltd. does not intend to disclose developments with respect to the solicitation process unless and until the company determines such disclosure is appropriate. "This transaction will provide shareholders with immediate and substantial cash value, while also providing us with a partner that shares in our commitment to customers and employees and can add strategic and operational value," said Kevin Akeroyd, Cision's Chief Executive Officer. "Based on our extensive engagement with Platinum over the past several months, we are confident that Platinum's support will enable Cision to execute on its strategy and next phase of growth." Commenting on the transaction, Platinum Equity Partner Jacob Kotzubei said: "Cision has a long history of leadership providing software and services to public relations and marketing communications professionals and has developed a growing portfolio of earned media management offerings for the world's leading brands. Platinum looks forward to nurturing Cision's core business, supporting and anticipating the diverse needs of the company's customers, and driving new opportunities for innovation. As a private company, Cision will be able to make strategic investments for sustainable and profitable growth, while remaining agile and focused on operational excellence. We are excited to partner with Cision's management team as it embarks on this new chapter." Cision Ltd. will file its quarterly report on Form 10-Q reporting its third quarter financial results but does not intend to host a quarterly earnings call. Financing & Advisors Equity financing will be provided by investment funds managed, advised or sponsored by Platinum Equity. Platinum Equity has secured committed debt financing for the transaction from Bank of America Merrill Lynch. Rothschild & Co is serving as lead financial advisor to Cision and its Board of Directors. Centerview Partners LLC and Deutsche Bank Securities Inc. are also acting as financial advisors to Cision. Kirkland & Ellis LLP is acting as legal counsel to Cision, and Gibson, Dunn & Crutcher LLP is acting as M&A legal counsel and Willkie Farr & Gallagher LLP is acting as financing legal counsel to Platinum Equity. For further information regarding the terms and conditions contained in the definitive merger agreement, please see Cision Ltd.'s Current Report on Form 8-K, which will be filed in connection with this transaction. About Cision Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. About Platinum Equity Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 250 acquisitions. Forward-Looking Statements Certain statements in this press release are forward-looking statements, including, without limitation, the statements made concerning the proposed transaction, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "aim," "potential," "continue," "ongoing," "goal," "can," "seek," "target" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in any such forward-looking statement. Those risks, uncertainties and assumptions include: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the Company's business and the price of the Company's ordinary shares; (ii) the failure to satisfy any of the conditions to the consummation of the proposed transaction, including the authorization of the merger agreement by the Company's shareholders and the receipt of certain regulatory approvals; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement; (iv) the effect of the announcement or pendency of the proposed transaction on the Company's business relationships, operating results and business generally; (v) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; (vi) risks related to diverting management's attention from the Company's ongoing business operations; (vii) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the proposed transaction, (viii) unexpected costs, charges or expenses resulting from the proposed transaction; (ix) uncertainties as to Platinum Equity's ability to obtain financing in order to consummate the merger; and (x) other risks described in the Company's filings with the SEC, such as its Annual Report on Form 10-K for the year ended December 31, 2018. Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. Except as required by applicable law or regulation, the Company does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise. Additional Information and Where to Find It In connection with the proposed transaction, the Company will file with the Securities and Exchange Commission (the "SEC") and furnish to the Company's shareholders a proxy statement. BEFORE MAKING ANY VOTING DECISION, THE COMPANY'S SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT (IF ANY) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and shareholders may obtain a free copy of documents filed by the Company with the SEC at the SEC's website at http://www.sec.gov. In addition, investors and shareholders may obtain a free copy of the Company's filings with the SEC from the Company's website at http://investors.cision.com or by directing a written request to: Cision Ltd., Attn: Secretary, 130 E. Randolph St., 7th Floor, Chicago, IL 60601. Participants in the Solicitation The Company and certain of its directors, executive officers, and certain other members of management and employees of the Company may be deemed to be participants in the solicitation of proxies from shareholders of the Company in favor of the proposed merger. Information about directors and executive officers of the Company is set forth in the proxy statement for Cision's 2019 annual general meeting of shareholders, as filed with the SEC on Schedule 14A on August 9, 2019. Additional information regarding the interests of these individuals and other persons who may be deemed to be participants in the solicitation will be included in the proxy statement with respect to the merger that the Company will file with the SEC and furnish to the Company's shareholders. Contacts: Cision Ltd.: Investor Contact: Jack Pearlstein Chief Financial Officer Jack.Pearlstein@cision.com Media Contact: Jenn Deering Davis VP, Communications Jenn.Deering.Davis@cision.com Platinum Equity: Dan Whelan Principal, Platinum Equity dwhelan@platinumequity.com SOURCE Cision Ltd. Group, Inc.

2019-10-23 09:29

PR Newswire Launches Asia-Pacific Communications Survey 2019 - Press Releases and Content Distribution Trends

HONG KONG, Sept. 30, 2019 /PRNewswire/ -- With the rapid development of technologies such as news recommender algorithms and mobile-first social media platforms, corporate communications in the Asia-Pacific (APAC) region is facing greater challenges. These include measuring, evaluating and quantifying the impact of communications across a fragmented media environment. PR Newswire Asia-Pacific Communications Survey 2019 - Press Releases and Content Distribution Trends To explore how businesses are meeting these challenges, PR Newswire, the premier global provider of news distribution and media monitoring services, has launched the APAC Communications Survey 2019 - Press Releases and Content Distribution Trends. This survey seeks inputs from PR & communications professionals across nine major markets – Australia, Mainland China, Hong Kong, Taiwan, Indonesia, Malaysia, Singapore, South Korea, and Vietnam and is open for participation until October 26, 2019. Each participant will receive an email alert when the survey findings are published. To participate in this survey, please click: https://www.surveymonkey.com/r/SQQNPTG PR Newswire is committed to helping businesses tell their stories across different markets, cultures and languages. Your participation will help fellow PR & communications professionals better understand APAC industry trends and provide an invaluable reference point to plan future campaigns. Key questions covered in this survey include: The topics of press releases sent by your business; Content distribution channels; The level of satisfaction across different types of channels such as news media channels, social media platforms and paid advertising. The results of this survey are expected to be released by the end of 2019. About PR Newswire PR Newswire, a Cision Ltd. company (NYSE: CISN), is a leading global provider of news distribution and earned media software and services. In conjunction with Cision's cloud-based communications product suite, PR Newswire's services enable marketers, corporate communicators, and investor relations officers to identify key influencers, engage target audiences, craft and distribute strategic content, and measure meaningful impact. Combining the world's largest multi-channel, multi-cultural content dissemination network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, the Middle East, Africa and Asia-Pacific regions. For more info, please visit www.prnasia.com. Photo - https://photos.prnasia.com/prnvar/20190927/2594420-1 Logo - http://photos.prnasia.com/prnvar/20160617/8521603993LOGO-d

2019-09-30 11:27

Cision Releases 'State of the Freedom of the Press' Special Report

Results Show Continued Deterioration in Global Press Freedom CHICAGO, Sept. 25, 2019 /PRNewswire/ -- Cision (NYSE: CISN) today released never-before-seen insights in their latest report – State of the Freedom of the Press: A Cision 2019 State of the Media Special Report. The report uncovers journalists' concerns around safety, freedom of the press, trust in the media, and much more. Among the key findings is 49% of journalists globally believe the freedom of the press has deteriorated in their home countries. Earlier this year, Cision released its 2019 State of the Media Report, which surveyed nearly 2,000 journalists from 10 countries around the world. Cision conducts this report annually to learn about the main issues facing the global media industry, and how PR and communications professionals can better work with their journalist counterparts. With today's release of the State of the Freedom of the Press special report, Cision is revealing new insights from that survey that have never before been shared with the public. Despite continued attacks on the media, the report highlighted a hopeful undertone. While 69% of US journalists felt that the public lost trust in the media this year, that number is actually down from 78% in 2018, indicating a shift in perception and attitude. Despite continued attacks on the media and efforts to weaken freedom of the press, 65% of journalists around the globe don't feel they've had to change their tone or language in the last year. "These insights prove that despite ongoing challenges in today's media landscape, journalists believe that they've been able to build back trust with the public without compromise," said Kristen Sala, Cision's Senior Director of US Media Research. "The media plays a pivotal role in helping PR professionals get their messages out to the public. Therefore, it's up to the PR industry to continue to help strengthen that relationship by supporting journalists with legitimate data and evidence, along with valuable information and unique ideas."  Survey responses also reflect how perceptions of freedom of the press can differ greatly from country to country. Only 41% of Canadian respondents reported a deterioration of freedom of the press in their country, while 67% felt that way in Brazil. 57% of U.S. journalists have felt a deterioration. To see the full State of the Freedom of the Press Report, click here. About Cision Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. Media Contact:  Rebecca Dersh PR Manager cisionpr@cision.com    View original content to download multimedia:http://www.prnewswire.com/news-releases/cision-releases-state-of-the-freedom-of-the-press-special-report-300925250.html SOURCE Cision

2019-09-25 11:28

PR Newswire's APAC Survey Reveals Content Quality is the Top Priority for Journalists

Asia-Pacific (APAC) journalists (25%) rate content quality - not readership metrics - as their number one key performance indicator (KPI). Other important parameters include a target number of original news stories and social media engagement. Press releases continue to be the most trusted source for news stories, with over twice as many journalists trusting official press releases (27%) over social media channels (10%). HONG KONG, Sept. 10, 2019 /PRNewswire/ -- As APAC media and PR professionals are getting to grips with rapid technological progress and shifting audience preferences, PR Newswire today released its Asia-Pacific Media Survey 2019 report to track how journalists are adapting. Survey results on journalists’ key performance indicators Survey results on journalists’ most trusted source This year's report was PR Newswire's largest ever in the region, surveying nearly 1,000 journalists and media professionals across nine key markets - Australia, mainland China, Hong Kong, Taiwan, Indonesia, Malaysia, Singapore, South Korea, and Vietnam. To help international businesses better understand the diverse APAC media landscape, our Audience Development team has also compiled a list of the top ten business media[1] in each of these nine markets. Despite readership metrics becoming more readily available, 25% of journalists indicate that content quality is their top key performance indicator (KPI), followed by number of original news stories, e.g. X stories per week, and social media engagement, such as social media shares of content. This survey found that a verified news source is more valuable than ever. For example, 73% of journalists in mainland China believe that news accuracy is their top consideration when assessing the value of a story. Press releases remain the most trusted source of information with over twice as many journalists from the majority of APAC markets (eight key markets, not including mainland China) trusting official press releases (27%) over social media channels (10%). Results also show an increase of 5 percentage points for trust in press releases compared to 22% in 2016-2017. Verified news sources play an important role as journalists craft their stories. When seeking a quote for their stories, journalists from the majority of APAC markets are most likely to turn to personal business contacts (60%), followed by press releases (51%). Other key takeaways from the report include: High-resolution photographs (29%) are the most preferred multimedia element in news coverage by journalists from the majority of APAC markets, with 25% preferring video, followed by infographics (21%). Journalists are keen to enhance their skillsets to create quality content. Relative to our last survey in 2016-2017, journalists across the APAC region indicate a higher demand for training on in-depth reporting and interviewing skills. Multilingual communication is critical for businesses going global. Journalists in Hong Kong, Malaysia, and Singapore responded to this survey in multiple languages while close to 100% of journalists in mainland China, Taiwan, Indonesia, South Korea, and Vietnam responded in their predominant domestic language, reflecting the preferences of their audiences. "For businesses operating globally, enhancing brand awareness and reputation are important tasks where media coverage plays a critical role," said Lynn Liu, Director of Audience Development and Distribution Services. "In the APAC region, it is vital that international businesses understand the shifting media landscape and local journalists' preferences to become even more valuable media partners. PR Newswire is committed to help businesses tell their stories in this diverse and dynamic region." PR Newswire looks forward to discussing the key findings of this survey at our upcoming Media Coffee events. To download the full Asia-Pacific Media Survey 2019 report, please click here.  About PR Newswire PR Newswire, a Cision Ltd. company (NYSE: CISN), is a leading global provider of news distribution and earned media software and services.  In conjunction with Cision's cloud-based communications product suite, PR Newswire's services enable marketers, corporate communicators, and investor relations officers to identify key influencers, engage target audiences, craft and distribute strategic content, and measure meaningful impact.  Combining the world's largest multi-channel, multi-cultural content dissemination network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, the Middle East, Africa and Asia-Pacific regions. For more info, please visit www.prnasia.com. For further information, please contact:  PR Newswire's Asia Marketing Team  +852 2572 8228 asia.marketing@prnasia.com [1] Based on monthly unique visitors

2019-09-10 10:03

Edelman and Cision Form Communications Cloud Partnership

  NEW YORK, Aug. 6, 2019 /PRNewswire/ -- Edelman and Cision announced today an exclusive agency partnership that combines Cision's industry-leading communications technology with Edelman's new suite of Performance Communications services. Specifically, the partnership enhances Edelman's earned channel planning, and advances its advocacy and sales growth attribution services. Edelman is also introducing a first-of-its-kind integration of earned audiences with performance and account-based marketing.  "Our partnership with Cision is designed to accelerate the adoption of technology and techniques that prove the multiplier effect of earned attention," said Russell Dubner, U.S. President and CEO of Edelman. "Now we can apply real-life behavior – not hypothesis and correlation – to hone strategy and stay connected to earned audiences. The blend of earned-instinct and marketing precision is a powerful combination."  This new partnership gives Edelman exclusive agency access to Cision ID's over 5,000 demographic and firmographic attributes, above and beyond Cision's existing Impact and Audiences data that is generally available in the market, allowing for rich insights into the performance and profile of earned-media audiences. Edelman will be able to look across the full set of anonymized Cision ID data to benchmark industry-level insights and analyses for clients. Edelman will be the first agency to cross-reference earned audiences with Cision's 925+ million influencer profiles for targeted ongoing engagement. Edelman will also extract performance data for use in media mix modeling, multi-channel attribution or data visualization.  Cision will draw on Edelman's applied expertise for product development, pilot testing and first-to-the market advances exclusive to the partnership. Edelman will focus its efforts on advances that enable clients to energize, grow, transform and defend their brand or reputations.  "The advent of the communications cloud, true ROI measurement for communications, and the ability to integrate comms back into marketing and advertising at the individual audience level, will, over time, be as revolutionary as the marketing clouds have proven to be," noted Kevin Akeroyd, CEO of Cision. "We are energized by the substantial resources Edelman is investing in the modernization of communications."  Edelman's Performance Communications team is made up of 150+ analysts, data specialists and integrators who deliver a combination of technology and data services to support modern communications programs. These services include data strategy, discovery, first- and third-party data rationalization and rich business intelligence, all to accelerate the adoption and integration of earned audiences with paid and owned.  About Edelman:  Edelman is a global communications firm that partners with businesses and organizations to evolve, promote and protect their brands and reputations. Our 6,000 people in more than 60 offices deliver communications strategies that give our clients the confidence to lead and act with certainty, earning the trust of their stakeholders. Our honors include the Cannes Lions Grand Prix for PR; Advertising Age's 2019 A-List; the Holmes Report's 2018 Global Digital Agency of the Year; and, five times, Glassdoor's Best Places to Work. Since our founding in 1952, we have remained an independent, family-run business. Edelman owns specialty companies Edelman Intelligence (research) and United Entertainment Group (entertainment, sports, lifestyle). For more information please visit: www.edelman.com.  About Cision:   Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision.  Media Contacts: Edelman:  Mike Bush, SVP, Marketing, +1 (212) 729-2181 Caitlin Falvey, VP, Marketing, +1 (312) 297-6907 Cision:  Rebecca Dersh, PR & Earned Media Manager, cisionpr@cision.com SOURCE Cision Related Links http://www.cision.com

2019-08-07 09:25

Cision to Hold Conference Call and Webcast on August 8, 2019 with Release of Second Quarter 2019 Financial Results

CHICAGO, July 25, 2019 /PRNewswire/ -- Cision Ltd. (NYSE: CISN), a leading global provider of earned media software and services to public relations and marketing communications professionals, will release its financial results for the second quarter 2019 on Thursday, August 8, 2019, shortly after the market close. In conjunction with the earnings release, investors will have the opportunity to listen to Cision senior management review its second quarter 2019 results via conference call and webcast on Thursday, August 8, 2019 at 5:00 pm EDT. To hear the live event, visit the Cision investor website at http://investors.cision.com, or by dialing 1-877-443-4809 (participant dial in toll free) or 1-412-317-5235 (participant dial in International). For those accessing the call via Cision's investor website, we suggest logging in at least 15 minutes prior to the start of the live event. For those dialing in, participants should ask to be joined into the Cision Ltd. earnings call. A replay of the earnings webcast will be available approximately two hours after the conclusion of the live event on August 8, 2019. To access the webcast recording / conference replay, visit http://investors.cision.com or you can dial 1-877-344-7529 (US), 1-412-317-0088 (International), or 1-855-669-9658 (Canada). The replay access code for the earnings call is 10133402. The replay will be available through August 22, 2019. About Cision Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,500 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. Investor Contact:  Jack Pearlstein  Chief Financial Officer  Jack.Pearlstein@cision.com Media Contact:  Rebecca Dersh  PR & Earned Media Manager, Cision   cisionpr@cision.com  View original content to download multimedia:http://www.prnewswire.com/news-releases/cision-to-hold-conference-call-and-webcast-on-august-8-2019-with-release-of-second-quarter-2019-financial-results-300891082.html SOURCE Cision Ltd.

2019-07-25 09:50

Cision® Appoints David Krantz To Board Of Directors

CHICAGO, July 22, 2019 /PRNewswire/ -- Cision (NYSE: CISN) today announced the appointment of David Krantz to the Company's Board of Directors. Krantz currently serves as the Group President of North America Fuel at FLEETCOR Technologies, a leading global provider of business payment solutions. "David's impressive leadership experience and vast expertise in strategy, business development, and marketing made him a natural fit for the Cision Board," said Kevin Akeroyd, Cision CEO. "Following our recent acquisitions of TrendKiteand Falcon.io, and the launch of the next generation Communications Cloud®, this year has already seen exciting growth for Cision. David will bring a unique skillset and perspective that will make him an indispensable resource for the company as we continue that trajectory."       Krantz was previously CEO of YP Holdings, a marketing solutions provider, where he was responsible for leading the company's strategy and operations. Prior to YP Holdings, Krantz had a nine-year career with AT&T, including serving as CEO of AT&T Interactive. Krantz has held high-level roles in product, marketing, and strategy with AT&T, GoDigital Networks, America Online, and Netscape. "Cision continues to build technology that pushes the limits of what's possible for the communications industry," said Krantz. "I'm thrilled to join the Cision Board and look forward to being part of this next stage of expansion." Krantz holds a B.S. in Finance and Management from University of Virginia and an MBA from Harvard Business School. He currently sits on the Board of CallRail, a company that helps data-driven marketers optimize the performance of their advertising campaigns, increase sales effectiveness, and improve customer retention. With David Krantz's appointment, the Cision Board is now comprised of nine directors. About Cision Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud, visit www.cision.com and follow Cision on Twitter @Cision. Media Contact: Rebecca Dersh PR & Earned Media Manager, Cision cisionpr@cision.com

2019-07-22 15:17

Cision® Unveils the Next Generation Cision Communications Cloud®, Designed to Empower Communications Teams

CHICAGO, July 9, 2019 /PRNewswire/ -- Cision (NYSE: CISN) today announced the next generation Cision Communications Cloud – the company's communications platform that delivers best-in-class earned media monitoring and analytics, improved influencer campaigns, and paid audience targeting. In January, Cision announced that it had acquired startups TrendKite and Falcon.io, providing the company with additional innovative capabilities. TrendKite's powerful monitoring and analytics have been integrated with Cision's comprehensive content, media database, newswire distribution, and business results attribution capabilities. This updated Cision Communications Cloud platform delivers an improved user experience, more intelligent and interactive reporting, and better campaign execution for PR and communications teams.    (PRNewsfoto/Cision) (PRNewsfoto/Cision) "This is an exciting time for Cision as we continue to evolve after our recent acquisitions," said Kevin Akeroyd, Cision CEO. "By taking the very best elements from across our product portfolio, we've created an inclusive earned media management platform that sets us apart from anything else in the market. According to a 2018 Cision/PR Week Survey, 77% of comms professionals feel they could better measure the ROI of their work, and the next generation of Cision Communications Cloud is built to empower them to do so. We're offering an end-to-end workflow, real-time insights, and the only communications platform that truly measures the value of earned media." With the next generation Cision Communications Cloud, comms teams will now have the following enhanced capabilities: Fast, flexible monitoring and analytics: Cision's acquisition of TrendKite brings new earned media monitoring and analytics to every step of the comms workflow – from influencer discovery to business results reporting. The new functionality includes unlimited dashboards, real-time alerts, AI-powered insights, image monitoring, and social listening. Engage audiences personally and at scale: The Cision Communications Cloud features the largest contact database available to PR pros, with more than 1.4 million professional media profiles and 910 million social influencer profiles, searchable by interest, expertise, and audience demographics. Press release distribution by Cision PR Newswire, which generates up to 2x the search traffic as our closest competitor, integration with G Suite and Office 365, and social campaign management are also available in the updated Cision Communications Cloud. Integrate paid media tools to get more from earned media campaigns: Building on its industry-leading Cision ID solutions such as Impact, a business results and ROI measurement solution, the Cision Communications Cloud now delivers earned-media-informed custom audience creation, targeting and activation. Cision provides the only solution to measure true earned media reach across millions of online publications. Users can create custom interest audiences based on earned media engagement to activate in their MadTech™ solutions and measure the conversion of these campaigns. "There's a reason The Brookings Institution has worked with Cision for as long as we have," said Brennan Hoban, Communications Manager of The Brookings Institution, a Cision client. "Cision makes advancements with clients' needs top of mind, improving our workflow and overall results. They're pushing the industry forward, and we can't wait to see what else is in store." The next generation Cision Communications Cloud is available now in the United States and will soon be available globally. To learn more about the Cision Communications Cloud, please visit www.cision.com. About Cision  Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud, visit www.cision.com and follow Cision on Twitter @Cision. Media Contact:  Rebecca Dersh  PR & Earned Media Manager, Cision   cisionpr@cision.com

2019-07-09 15:16

Cision's MultiVu Launches Digital Marketing Suite

NEW YORK, June 5, 2019 /PRNewswire/ -- In the ever-changing digital landscape, it can be a challenging task for a brand to find ways to engage with its audience where they are. A recent report from Pew Research Center reveals that 77% of Americans go online on a daily basis, with 26% saying they are online almost constantly. If your target demographic happens to be younger, more educated, and/or bringing home more income, that number is even higher. Social Video Example: MultiVu Digital Marketing Success Story Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8548451-introducing-multivu-digital-marketing-suite/ These are important trends to understand when considering where to spend your brand's carefully budgeted dollars. Add in the flexibility, affordability, and likelihood for engagement with a digital audience, and your strategy sessions will lead you right to having Digital Marketing as a top priority. Here at MultiVu, we have always had a suite of solutions for your Digital Marketing needs. However, we've recently re-organized ourselves, added in some shiny new tools [discussed below], and are excited to unveil our official Digital Marketing Suite! Here's a preview of the solutions we offer: Social Video Video is still king when it comes to content, but the rise of smartphones has drastically changed the ways in which most people interact with it. Most people watch videos on social media without turning their sound on (such as when they're scrolling in public). To get them your message – and to accommodate any accessibility needs – it's a savvy marketer who will make sure to include text in that video. Have a video to feature that's too long for social but want to still get their attention? Take a nod from the movies and create a short trailer (with text!) of your video to grab their attention. We can take your already existing content and create this social video for you with this new offering. MNRs (Multichannel News Releases) Arguably our best-known legacy solution, MNRs are a custom-designed landing page for your content promotion that adheres to search engine optimization (SEO) and call to action best practices. Not only do we distribute your MNR to TV, radio, and print news stations, but we also post your content to online sites, social media, video channels, your custom email list, a digital outdoor sign in Times Square, and to a targeted audience via native advertising. We can supplement this all with audience retargeting (ask us for info!), and we always provide an analytics report for your review to track key performance indicators (KPIs). Catalyst Interactive Web Experiences Have a great site and want to create an engaging, interactive experience? Looking for new ideas on conversion rate optimization (CRO)? Our new Catalyst product allows you to customize web-based interactive content – increasing retention, revisits, and sharing. HubSpot reports that they experimented with having a slide-in box on their blog, and it achieved a "192% higher clickthrough rate, and 27% more submissions than a regular CTA at the bottom of a blog post." We have designers on hand who will help build your interactive solution, like a quiz, interactive infographic, calculator – you name it! We'll work with you throughout the creative process, and then you can implement it onto your own site or even include it on an MNR.  Premium Publisher Advertising Perhaps nothing has evolved faster than native advertising's paying for clicks and impressions, A/B testing keyword-rich, attention-grabbing ad text, and homing in on a target audience. While we do still include guaranteed clicks with our MNRs (almost a dinosaur in native advertising these days), we also have Premium Publisher Advertising that focuses on getting your content to your target audience on the sites they visit the most. Take a look at the sample site list. Full Episode Player (Connected TV) A :15 or :30 second video spot that is delivered through an internet-connected TV (smart TV or with the use of Roku, Chromecast, Apple TV, and Fire TV) or internet-connected device (desktops, mobile, tablets) via app-based providers such as ABC, A&E, NBC, Discovery, etc. Although these spots do air on TV, they are airing on TV network apps; therefore, the videos are served to an "in demo" audience in the full episode content they are viewing. The best part about the Full Episode Player is that the spots cannot be skipped. Pre-Roll Video Ads Like the Full Episode Player, this option also allows for targeted delivery of video ads. Rather than playing like a commercial in the middle of app TV episodes, pre-roll allows for a :15 or :30 second video to play before the main video that the user has selected on a specific website. With pre-roll video, we can target the content nationally, by market, or by zip code. We can also target demographics on many levels, including – but not limited to – age, gender, household income, # of family members in the household, and certain behaviors. Pre-roll only airs on brand-safe websites and is clickable. Influencer Marketing Looking for the perfect spokesperson for your campaign? Considering an influencer? We offer hand-selected influencer recruitment. Influencer marketing works best as part of an overall brand strategy, and we can work with you to evaluate brand needs, campaign metrics, and consumer mindset to develop a full influencer strategy for your campaign. The sooner into your process you welcome us into your conversation, the more we can help with a full-scale strategy! The best starting place is with our Solutions Finder tool, which will lead you through some basic questions and send us your information for us to put together a custom proposal. Let's talk!

2019-06-05 15:34

Cision Reports First Quarter 2019 Results; Provides Updated Full Year 2019 Outlook

CHICAGO, May 9, 2019 /PRNewswire/ -- Cision Ltd. (NYSE: CISN), a leading global provider of software and services to public relations and marketing communications professionals, today reported results for the first quarter ended March 31, 2019.   Cision logo Financial Highlights First Quarter 2019 Revenue increased 3.6% to $185.8 million Revenue, excluding the impact of purchase accounting, increased 4.8% to $188.9 million Operating income decreased 40.7% to $7.2 million Net income was $11.6 million versus a prior year net loss of $0.4 million Adjusted EBITDA increased 8.4% to $63.1 million Adjusted net income increased 16.9% to $27.0 million Adjusted net income per share was $0.19 "We are pleased to have delivered strong financial results for the first quarter of 2019, including record organic constant currency revenue growth of 4.9% versus the prior year, with solid growth in both the core business and in each of Falcon and TrendKite," said Kevin Akeroyd, Cision's Chief Executive Officer. "We have dramatically improved the value proposition we bring to our public relations and marketing communications customers, and these new offerings will feature prominently in our plans to further extend our industry leadership position. Over the coming quarters, our priorities will be on completing our outstanding integration work, while driving towards our long-term financial goals and objectives." First Quarter Business Statistics and Operational Highlights Americas revenues increased 3.8% to $126.4 million EMEA revenues increased 2.1% to $51.6 million APAC revenues increased 11.8% to $7.8 million Non-core revenues declined 53.6% to $0.6 million Average pro forma subscription customers increased 5.5% to approximately 45,300 Average annualized pro forma revenue per subscription customer, excluding the impact of currency, increased 0.7% to approximately $11,600 Customers that purchased services from us on a transaction basis decreased 6.4% to approximately 37,700 Average quarterly pro forma revenue per customer that purchased services from us on a transaction basis, excluding the impact of currency, increased 4.7% to approximately $1,440 Cross-sell bookings of software, distribution and insights in the US increased 8.4% to $3.0 million Subscription and Transaction Customer Trends All of the figures below include our acquisitions of Falcon.io ("Falcon") and TrendKite, Inc. ("TrendKite") and exclude the divestiture of our email marketing business for all periods shown and have been further adjusted to exclude the impact of fluctuations in foreign currency.   Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q1 2019 compared to Q1 2018 Average pro forma subscription customers 42,884 44,025 44,499 45,333 45,243 5.5% Average annualized pro forma revenue per subscription customer $ 11,475 $ 11,579 $ 11,731 $ 11,612 $ 11,552 0.7% Pro forma transaction customers 40,216 41,172 38,152 39,173 37,662 (6.4%) Average pro forma revenue per transaction $   1,375 $   1,447 $   1,350 $   1,518 $   1,439 4.7% Updated Full Year 2019 Outlook and Initial Second Quarter 2019 Outlook Our updated outlook for the full fiscal year ending December 31, 2019 appears below (all figures in millions, except share and per share amounts). Additionally, due to our acquisitions of Falcon and TrendKite and the divestiture of our email marketing assets that were all completed in the first quarter of 2019, we have provided an initial outlook for our second quarter ending June 30, 2019. These estimates are based on a number of assumptions that management believes to be reasonable and reflect our expectations as of the date of this release. Actual results may differ materially from these estimates as a result of various factors, and Cision refers you to the cautionary language regarding "Forward Looking Statements" included in this press release when considering this information.   Updated 2019   Prior 2019   Initial Q2 2019   Q2 2018 Revenue $773 - $783   $775 - $785   $190 - $192   $187.5 Revenue, excluding the impact from purchase accounting $782 - $792   $782 - $792   $193 - $195   $187.8 Net income (loss)  $10 - $20   ($1) - $4   ($1) - $1   ($6.6) Net income (loss) per share $0.07 - $0.14   ($0.01) - $0.02   ($0.01) - $0.01   ($0.05) Adjusted EBITDA $270 - $275   $270 - $275   $65 - $67   $66.1 Adjusted net income $122 - $125   $122 - $125   $28 - $30   $29.3 Adjusted net income per diluted share $0.82 - $0.85   $0.82 - $0.85   $0.20 - $0.21   $0.23 Pro-forma fully diluted weighted average shares outstanding 148.0   148.0   148.0   127.4 Depreciation expense $29 - $32   $30 - $33   $7 - $8   $7.4 Amortization expense $95 - $100   $105 - $110   $23 - $25   $26.2 Amortization expense included in cost of revenue $20 - $23   $24 - $26   $5 - $6   $5.9 Interest expense, including debt extinguishment costs $73 - $77   $76 - $79   $18 - $19   $20.5 Cash interest expense $65 - $67   $64 - $66   $16 - $17   $16.3 Stock-based compensation $9 - $10   $7 - $10   $2 - $3   $0.9 Capital expenditures, inclusive of capitalized software development $40 - $43   $38 - $42   $9 - $10   $6.3 The above outlook assumes the inclusion of results from our acquisitions from the date of their respective acquisitions through the quarter ended June 30, 2019 and year ended December 31, 2019, and the inclusion of results from our e-mail marketing assets from January 1, 2019 through the date of its divestiture. The updated outlook above assumes LIBOR of approximately 2.6%, EURIBOR of approximately 0%, and the following exchange rates with respect to the British Pound, the Euro and the Canadian Dollar for fiscal year 2019:              Current  Prior GBP to USD                1.29 1.29 EUR to USD                1.12 1.14 CAD to USD                0.74 0.76 A number of foreign currencies, including the Euro, the Canadian Dollar and the Swedish Kroner, have recently weakened against the US dollar.  The negative impact of these changes in foreign exchange rates to our updated full year 2019 revenue and Adjusted EBITDA outlook since issuing our prior full year 2019 outlook is approximately $2.0 million and $1.0 million, respectively. We left both our full year 2019 revenue outlook, excluding the impact from purchase accounting and our full year 2019 Adjusted EBTDA outlook unchanged despite this anticipated currency headwind. Additionally, our outlook for 2019 excludes any additional acquisitions, divestitures, or other unanticipated events. See our discussion of non-GAAP financial measures included in this release. Conference Call and Webcast As previously announced, we will hold a conference call and webcast to review our first quarter 2019 financial results on Thursday, May 9, 2019 at 5:00 pm EDT. To hear the live event, visit the Cision investor website at http://investors.cision.com, or by dialing 1-877-443-4809 (participant dial in toll free) or 1-412-317-5235 (participant dial in International). For those accessing the call via Cision's investor website, we suggest logging in at least 15 minutes prior to the start of the live event. For those dialing in, participants should ask to be joined into the Cision Ltd. earnings call. A replay of the earnings webcast will be available approximately two hours after the conclusion of the live event on May 9, 2019. To access the webcast recording / conference replay, visit http://investors.cision.com or you can dial 1-877-344-7529 (US), 1-412-317-0088 (International), or 1-855-669-9658 (Canada). The replay access code for the earnings call is 10131339. The replay will be available through May 23, 2019. Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our future financial and operating performance outlook for the fiscal year ending December 31, 2019, as well as information relating to the acquisitions of Falcon.io and TrendKite and our divestiture of certain e-mail marketing assets and our realization of the expected benefits therefrom. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "anticipate," "intend," "plan," "goal," "seek," "aim," "strive," "believe," "see," "project," "predict," "estimate," "expect," "continue," "strategy," "future," "likely," "may," "might," "should," "will," "would," "target," similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Accordingly, you should not place undue reliance on these statements, as actual results may vary materially. A detailed discussion of some of the risks and uncertainties that could cause our actual results and financial condition to differ materially from the forward-looking statements is described under the caption "Risk Factors" in our most recent annual report on Form 10-K filed on March 1, 2019, along with our other filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this communication is based only on information currently available to us and speaks only as of the date of this report. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Please consult our public filings at www.sec.gov or www.Cision.com. About Cision Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,500 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. Cision Ltd. and its Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except per share and share amounts) (Unaudited)                         March 31,   December 31,           2019   2018   Assets           Current assets:             Cash and cash equivalents   $      82,913   $          104,769     Accounts receivable, net   140,024   120,882     Prepaid expenses and other current assets   32,311   22,824       Total current assets   255,248   248,475   Property and equipment, net   60,496   57,210   Other intangible assets, net   427,393   377,146   Goodwill   1,426,470   1,171,859   Operating lease right-of-use assets   65,737   -   Deferred tax asset   4,101   4,034   Other assets   8,762   7,652       Total assets   $  2,248,207   $       1,866,376   Liabilities and Stockholders' Equity           Current liabilities:             Current portion of long-term debt   $      13,953   $           13,210     Accounts payable   15,265   15,603     Accrued compensation and benefits   37,745   29,323     Operating lease liabilities   14,626   -     Other accrued expenses   80,936   82,507     Current portion of deferred revenue   170,588   139,725       Total current liabilities   333,113   280,368   Long-term debt, net of current portion   1,271,218   1,205,760   Deferred revenue, net of current portion   1,130   1,098   Operating lease liabilities, net of current portion   66,206   -   Deferred tax liability   74,407   69,232   Other liabilities   10,738   21,601       Total liabilities   1,756,812   1,578,059   Commitments and contingencies           Stockholders' equity:             Preferred stock, $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding at March 31, 2019 and December 31, 2018   -   -     Common stock, $0.0001 par value, 480,000,000 shares authorized; 148,328,727 and 132,716,541 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively   15   13     Additional paid-in capital   981,813   797,222     Accumulated other comprehensive loss   (62,090)   (68,941)     Accumulated deficit   (428,343)   (439,977)       Total stockholders' equity   491,395   288,317        Total liabilities and stockholders' equity   $  2,248,207   $       1,866,376     Cision Ltd. and its Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except for per share amounts) (Unaudited)                                   Three months ended March 31,          2019   2018   Revenue $       185,804   $       179,293   Cost of revenue 66,053   64,278       Gross Profit 119,751   115,015                 Operating costs and expenses:           Sales and marketing 33,233   29,708     Research and development 8,543   6,700     General and administrative 51,965   46,222     Amortization of intangible assets 18,811   20,250       Total operating costs and expenses 112,552   102,880       Operating income 7,199   12,135                 Non operating income (expense):           Foreign exchange gains (losses) 3,082   (7,883)     Interest and other income (loss), net 317   (256)     Gain on sale of business 28,144   -     Interest expense (19,273)   (19,688)     Loss on extinguishment of debt (355)   (2,432)       Total non operating income (loss) 11,915   (30,259)       Income (loss) before income taxes 19,114   (18,124)   Provision for (benefit from) income taxes 7,480   (17,682)       Net income (loss) 11,634   (442)   Other comprehensive income-foreign currency translation adjustments 6,851   7,075       Comprehensive income $        18,485   $          6,633                 Net income (loss) per share:           Basic $            0.08   $           (0.00)     Diluted $            0.08   $           (0.00)   Weighted average shares outstanding used in computing per share amounts:           Basic 145,413,574   123,946,264     Diluted 146,356,683   123,946,264       Cision Ltd. and its Subsidiaries Condensed Consolidated Statements of Cash Flows (in thousands) (Unaudited)                         Three months ended March 31,            2019   2018   Cash flows from operating activities         Net income (loss) $   11,634   $       (442)   Adjustments to reconcile net income (loss) to net cash provided by operating activities:           Depreciation and amortization 31,021   33,277     Non-cash interest charges and amortization of debt discount and deferred financing costs 2,780   3,198     Equity-based compensation expense 2,081   1,341     Provision for doubtful accounts 267   1,572     Deferred income taxes 35   (18,791)     Unrealized currency translation (gains) losses  (3,008)   7,864     Gain on sale of business (28,144)   -     Payment of contingent consideration (4,296)   -     Other   -   60     Changes in operating assets and liabilities, net of effects of acquisitions and disposal:             Accounts receivable (6,171)   (6,812)       Prepaid expenses and other current assets  (2,779)   (2,950)       Operating lease right-of-use assets 4,384   -       Other assets  (442)   48       Accounts payable (2,701)   (443)       Accrued compensation and benefits 5,098   (17)       Other accrued expenses (843)   (3,330)       Deferred revenue 18,420   20,853       Operating lease liabilities (2,144)   -       Other liabilities 3,701   875         Net cash provided by operating activities 28,893   36,303                   Cash flows from investing activities         Purchases of property and equipment (4,377)   (3,739)   Software development costs (7,954)   (5,033)   Acquisitions of businesses, net of cash and restricted cash acquired of $6,068 and $2,711 (148,541)   (62,713)   Proceeds from disposal of business 44,865   -   Other   21   -         Net cash used in investing activities (115,986)   (71,485)                   Cash flows from financing activities         Proceeds from revolving credit facility 40,000   -   Repayment of revolving credit facility (40,000)   -   Proceeds from term credit facility, net of debt discount of $1,013 73,987   -   Repayments of term credit facility (3,494)   (3,362)   Payments of deferred financing costs (1,619)   (131)   Proceeds from the exercise of stock options 264   -   Payment of contingent consideration (3,695)   (2,873)         Net cash provided by (used in) financing activities 65,443   (6,366)   Effect of exchange rate changes on cash, cash equivalents and restricted cash 394   742         Decrease in cash, cash equivalents and restricted cash (21,256)   (40,806)                   Cash, cash equivalents and restricted cash         Beginning of period 104,769   148,654   End of the period $   83,513   $  107,848                   Supplemental disclosure of cash flows information         Issuance of shares for acquisitions 182,248   20,143   Use of Non-GAAP Financial Measures Non-GAAP results are presented only as a supplement to our financial statements based on US generally accepted accounting principles (GAAP). Non-GAAP financial information is provided to enhance the reader's understanding of our financial performance, but none of these non-GAAP financial measures are recognized terms under GAAP, and non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. Reconciliations of the most directly comparable GAAP measures to non-GAAP measures, such as Adjusted EBITDA, and Adjusted net income per share, are provided within the schedules attached to this release. We use non-GAAP measures in our operational and financial decision-making, believing that it is useful to exclude certain items in order to focus on what we deem to be a more reliable indicator of ongoing operating performance and our ability to generate cash flow from operations. As a result, internal management reports used during monthly operating reviews include Adjusted EBITDA, and Adjusted net income per share. Additionally, we believe that the presentation of non-GAAP measures provides information that is useful to investors as it indicates, for example, our ability to meet capital expenditures and working capital requirements and otherwise meet our obligations as they become due. Investors are cautioned that non-GAAP financial measures are not a substitute for GAAP disclosures. This communication also includes certain forward-looking non-GAAP financial measures. We are unable to present without unreasonable efforts a reconciliation of forward-looking non-GAAP financial information to the corresponding GAAP financial information because management cannot reliably predict all of the necessary information. Forward-looking non-GAAP financial information is based on numerous assumptions, including assumptions with respect to general business, economic, market, regulatory and financial conditions and various other factors, all of which are difficult to predict and many of which are beyond our control. Accordingly, investors are cautioned not to place undue reliance on this information. Non-GAAP measures are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to Cision, many of which present non-GAAP measures when reporting their results. These measures can be useful in evaluating our performance against our peer companies because we believe the measures provide users with valuable insight into key components of GAAP financial disclosures. However, non-GAAP measures have limitations as an analytical tool. Non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies. They are not presentations made in accordance with GAAP, are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. As a result, you should not consider such performance measures in isolation from, or as a substitute analysis for, results of operations as determined in accordance with GAAP. Cision Ltd. and its Subsidiaries Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (in millions) (Unaudited)     Three months ended March 31,     2019   2018   Change Net income (loss) $   11.6   $    (0.4)   $  12.1 Depreciation and amortization 31.0   33.3   (2.3) Interest expense and loss on extinguishment of debt 19.6   22.1   (2.5) Provision for (benefit from) income taxes 7.5   (17.7)   25.2 EBITDA (1) 69.8   37.3   32.5 Acquisition and offering related costs 19.3   10.9   8.4 Stock-based compensation 2.1   1.3   0.7 Deferred revenue reduction from purchase accounting 3.1   0.9   2.2 Gain on sale of business (28.1)   0.0   (28.1) Unrealized translation (gain) loss (3.0)   7.9   (10.9) Adjusted EBITDA (2) $   63.1   $   58.2   $     4.9   Cision Ltd. and its Subsidiaries Reconciliation of Net Income (Loss) to Adjusted Net Income and Adjusted Net Income per Diluted Share (in millions, except for per share and share amounts) (Unaudited)     Three months ended March 31,     2019   2018   Change Net income (loss) $   11.6   $    (0.4)   $  12.1 Provision for (benefit from) income taxes 7.5   (17.7)   25.2 Acquisition and offering related costs 19.3   10.9   8.4 Gain on sale of business (28.1)   -   (28.1) Stock-based compensation expense 2.1   1.3   0.8 Deferred revenue reduction from purchase accounting 3.1   0.9   2.2 Amortization related to acquired intangible assets 23.7   25.9   (2.2) Non-recurring interest and loss on extinguishment of debt 0.4   2.4   (2.1) Unrealized translation (gain) loss  (3.0)   7.9   (10.9) Adjusted Income before income taxes 36.5   31.3   5.3 Less: Income tax at a 26% rate (9.5)   (8.1)   (1.4) Adjusted net income (3) $   27.0   $   23.1   $     3.9 Pro forma fully-diluted weighted average shares outstanding 145.4   123.9   21.5 Adjusted net income per diluted share (4) $   0.19   $   0.19   $       -   Cision Ltd. and its Subsidiaries Reconciliation of Net Cash Provided by Operating Activities to Adjusted Net Cash Provided by Operating Activities (in millions) (Unaudited)     Three months ended March 31,     2019   2018   Change Net cash provided by operating activities $   28.9   $   36.3   $   (7.4) Acquisition and offering related costs 19.3   10.9   8.4 Adjusted net cash provided by operating activities (5) $   48.2   $   47.2   $     1.0     (1) Cision defines EBITDA as net income (loss), plus depreciation and amortization expense, plus interest expense and loss on extinguishment of debt, plus provision for (or minus benefit from) income taxes.     (2) Cision defines Adjusted EBITDA as EBITDA, further adjusted for acquisition and offering related costs, stock-based compensation, deferred revenue reduction from purchase accounting, (gains) losses related to divested businesses or assets, sponsor fees and expenses, and unrealized translation losses (gains). All of the items included in the reconciliation from net income to Adjusted EBITDA are either non-cash items or are items that we consider to be less useful in assessing our operating performance. In the case of the non-cash items, we believe that investors can better assess our operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect our ability to generate free cash flow or invest in our business. For example, by excluding depreciation and amortization from EBITDA, users can compare operating performance without regard to different accounting determinations such as useful life. In the case of the other items, we believe that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.     (3) Cision defines Adjusted net income as net income (loss) plus provision for (or minus benefit from) income taxes, further adjusted for acquisition and offering related costs, (gains) losses related to divested businesses or assets, stock-based compensation, deferred revenue reduction from purchase accounting, amortization related to acquired intangibles, non-recurring interest and losses on extinguishment of debt, sponsor fees and expenses, and unrealized translation losses (gains), which together, sum to Adjusted net income (loss) before income taxes. Adjusted net income (loss) before income taxes is then taxed at an assumed long-term corporate tax rate of 26%. All of the items included in the reconciliation from net income to Adjusted net income are either non-cash items or are items that we consider to be less useful in assessing our operating performance. In the case of the non-cash items, we believe that investors can better assess our operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect our ability to generate free cash flow or invest in our business. For example, by excluding the amortization related to acquired intangibles, users can compare operating performance without regard to highly variable amortization expenses related to our acquisitions. In the case of the other items, we believe that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.     (4) Cision defines Adjusted net income per diluted share as Adjusted net income, as defined above, divided by the fully-diluted pro forma weighted average shares outstanding for the period. For purposes of calculating the number of fully diluted shares outstanding, we have excluded the potential impact of dilution from outstanding warrants to purchase shares of our common stock prior to the dates of their conversion, and stock options and restricted units issued and outstanding pursuant to our 2017 Omnibus Incentive Plan. During the second quarter of fiscal 2018, we issued an aggregate of 6,342,989 ordinary shares (6,100,209 ordinary shares on May 18, 2018 and 242,780 ordinary shares on June 4, 2018), in exchange for all of our outstanding warrants, pursuant to the completion of our warrant exchange transactions. During the third quarter of 2018, we issued 2,000,000 ordinary shares for the earn-out achieved during the quarter. Commencing on these respective issuance dates, we included the issued shares in our fully-diluted pro forma weighted average share count.     (5) Cision defines Adjusted net cash provided by operating activities as net cash provided by operating activities adjusted for acquisition related costs and expenses. Investor Contact: Jack Pearlstein Chief Financial Officer Jack.Pearlstein@cision.com Media Contact: Jenn Deering Davis VP, Communications Jenn.Deering.Davis@cision.com SOURCE Cision Ltd.

2019-05-09 17:46

PR Newswire Awarded Most Innovative News Distribution -- Staying at the Cutting Edge of Media Landscape Changes

KUALA LUMPUR, May 8, 2019 /PRNewswire/ - PR Newswire, the premier global provider of news distribution and media monitoring services, has won the Most Innovative News Distribution award at the Malaysia Global Business Forum (MGBF) Golden Quill Media Awards held at Kuala Lumpur, Malaysiaon May 2, 2019.   Award recipients & the organizers of MGBF’s Golden Quill Media Awards. Christine Pereira, Senior Audience Development Executive at PR Newswire is at the 1st row, 4th from the right.   The MGBF Golden Quill Media Awards organizers noted that the past 12 months had seen multiple changes in the media landscape and sought to recognize the organizations as well as individuals at the cutting edge of these changes. "We are proud yet humbled to be recognized by the MGBF for our commitment to innovative news distribution which remains important despite changes in the media landscape in Malaysia and abroad," said Christine Pereira, Senior Audience Development Executive, PR Newswire. "PR Newswire  has built a strong Asia Pacific syndication network with prominent media partners such as AsiaOne (Singapore), Yahoo Finance (Taiwan), Saigon Times (Vietnam), and Warta Ekonomi (Indonesia). Our clients may tap on our various multimedia and social media platforms to deliver engaging content to their target audiences. Our post-distribution reports also quantify the media attention, search engine visibility and web crawler hits generated by press releases and images to facilitate a more data-driven communications strategy." Royce Shih, Vice President APAC Sales & Marketing at PR Newswire added, "We greatly value our partnership with businesses in Malaysia and the Asia Pacific region. This award demonstrates that our commitment to innovative news distribution -- global media network, local media reach and multimedia platforms -- is enabling our Asia Pacific clients to communicate their unique value to target audiences at home and on the international stage." Connecting Journalists with Engaging Content Outside Malaysia, the media landscape is also rapidly changing. Our team has been actively conducting research on this changing media landscape to gather insights that PR professionals may leverage on to enhance their communications strategies. For example, in the 2019 State of Media Report, Cision, PR Newswire's parent company, asked 1,999 international journalists whether the availability of audience metrics such as views and engagement had changed the way they evaluated stories. A resounding 65 percent of these journalists admitted that these metrics had changed the way they evaluate potential stories. At the same time, budgetary pressures led to fewer resources, with 42 percent of respondents indicated that they worked on stories no more than a day in advance.  As journalists grapple with audience metrics and resource constraints, PR professionals have an opportunity to become an increasingly important partner. Many journalists tend to publish what they consume, and the 2019 State of Media Report indicates that images (preferred by 27 percent of respondents), infographics (18 percent), personalized data analysis (16 percent) and videos (13 percent) are vital to creating immersive visuals and insights that are more likely to resonate with their audiences. As such, PR professionals may wish to craft their press releases in line with these preferences to strengthen media relationships.      Source: 2019 State of Media Report About PR Newswire PR Newswire, a Cision Ltd. company (NYSE: CISN), is a leading global provider of news distribution and earned media software and services.  In conjunction with Cision's cloud-based communications product suite, PR Newswire's services enable marketers, corporate communicators, and investor relations officers to identify key influencers, engage target audiences, craft and distribute strategic content, and measure meaningful impact.  Combining the world's largest multi-channel, multi-cultural content dissemination network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, the Middle East, Africa and Asia-Pacific regions. For more info please visit www.prnasia.com. For further information, please contact:  PR Newswire's Asia Marketing Team  +852 2572 8228 asia.marketing@prnasia.com Logo - http://photos.prnasia.com/prnh/20160617/8521603993LOGO-d  Photo - https://photos.prnasia.com/prnh/20190507/2458558-1-a  Photo - https://photos.prnasia.com/prnh/20190507/2458558-1-b

2019-05-08 09:24

PR Newswire Honored at ASEAN PR Conference & PR Excellence Awards - Helping Businesses Communicate to the World

KUCHING, Malaysia, April 30, 2019 /PRNewswire/ -- PR Newswire, the premier global provider of news distribution and media monitoring services, has clinched the Diamond Award for Best Online Media Company Supporting Public Relations (PR) and Communication Industry in the Association of Southeast Asian Nations (ASEAN) at the second ASEAN PR Conference & PR Excellence Awards held at Hilton Kuching, Sarawak, Malaysia on Apr 29 2019.   PR Newswire Country Manager, Vietnam, Mai Anh Le receiving the diamond award for the Best Online Media Company supporting PR and Communication Industry   This Diamond Award (the highest tier among four award categories, including Gold, Silver and Bronze) recognizes PR Newswire's role in supporting outstanding online PR activities in the ASEAN communications industry. "We are honored to be recognized by the organizers -- the ASEAN Public Relations Network (APRN) and Institute of PR Malaysia -- for our excellence in helping ASEAN clients amplify their stories globally through video production, multimedia press releases and outdoor video display at iconic landmarks such as Times Square, New York City," said Mai Anh Le, Country Manager in Vietnam at PR Newswire. "We are also grateful to our clients who are tapping on our suite of communications services to tell compelling, differentiated stories that resonate at home and abroad."  In line with the conference theme of "Communication, Attention, Tactics", nine distinguished speakers from around the world shared details of their communications strategies and tactics to excel in a connected, diverse and dynamic ASEAN region that collectively stands as the sixth largest economy in the world with a combined Gross Domestic Product of $2.55 trillion. To illustrate "Communication, Attention, Tactics" in action, Mai Anh Leshared, "In Vietnam, with 95 percent of internet users watching video on mobile, 91 percent using mobile messenger software and 61 million monthly active users on Facebook[1], content is often consumed 'on the go' and shared socially on both private and public networks. It is vital for businesses to communicate vivid multimedia messages that attract attention and shares, while tapping on the widest possible distribution network to reach the largest audience pool." Born in ASEAN, Communicating to the World ASEAN is the fourth largest exporting region in the world, trailing only the European Union, North America and the People's Republic of China. News distribution to the relevant global media channels plays an important role in speeding up the internationalization of innovative ASEAN businesses. By getting a variety of sources to consistently describe their brand story and value proposition (earned media), this builds a digital footprint that wins trust when potential customers are researching online. International journalists are also receptive to fostering more meaningful relationships with businesses and PR professionals. In the 2019 State of Media Report,  Cision, PR Newswire's parent company, asked 1,999 journalists how their relationships with PR professionals had changed over the year, and 27% said their relationships with PR professionals had gotten more valuable. This is a significant jump over the corresponding 2018 survey result (8%). Royce Shih, Vice President APAC Sales & Marketing at PR Newswire said, "We serve a wide range of internationalizing ASEAN clients. This award demonstrates that our comprehensive suite of news distribution and media monitoring solutions, combined with our dedicated local teams, is empowering ASEAN businesses to communicate their unique value to global audiences." About PR Newswire PR Newswire, a Cision Ltd. company (NYSE: CISN), is a leading global provider of news distribution and earned media software and services.  In conjunction with Cision's cloud-based communications product suite, PR Newswire's services enable marketers, corporate communicators, and investor relations officers to identify key influencers, engage target audiences, craft and distribute strategic content, and measure meaningful impact.  Combining the world's largest multi-channel, multi-cultural content dissemination network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, the Middle East, Africa and Asia-Pacific regions. For more info please visit www.prnasia.com. For further information, please contact:  PR Newswire's Asia Marketing Team  +852 2572 8228 asia.marketing@prnasia.com [1] Digital 2019 Vietnam, We Are Social. Photo - https://photos.prnasia.com/prnh/20190430/2450907-1 Logo - https://photos.prnasia.com/prnh/20180611/2159405-1LOGO-b   Source: PR Newswire Related Links: http://www.prnasia.com

2019-04-30 19:22

Cision 2019 State of the Media Report Reveals a Decline in Distrust of the Media and Growing Concerns About Staffing and Resources

CHICAGO, April 24, 2019 /PRNewswire/ -- To uncover the latest trends and biggest challenges facing the media industry, Cision (NYSE: CISN) todayreleased its 2019 State of the Media Report, the company's tenth annual State of the Media. This year's report was Cision's largest ever, surveying nearly 2,000 journalists from 10 countries around the world, to learn about the main issues facing the global media industry in 2019, and how PR and communications professionals can better work with their journalist counterparts.   Cision 2019 State of the Media Report: The availability of audience metrics like views and engagement has changed the way journalists evaluate stories     Cision 2019 State of the Media Report: change from 2018 to 2019 in the most impactful technologies: AI and social media Despite an increasing number of challenges facing journalists- from fake news and misinformation campaigns, to shrinking budgets and newsrooms, to changes in social media algorithms- the report reveals several optimistic findings. For the second year in a row, respondents reported a decrease in the public's distrust of the media; 63% of respondents felt the public lost trust this year, which is down from 71% in 2018 and 91% in 2017. "While fake news is still a concern, it's not journalism's top challenge this year. Unfortunately issues around social media and resources lead the list of concerns, especially in the United States, Canada and United Kingdom," said Kevin Akeroyd, Cision CEO. "But the news isn't all bad; we are encouraged to see a continued decrease in perceptions of public distrust in the media. Trust is the major theme in this year's survey results; in fact, it seems tied to the future of the industry in many ways. Telling a reliable, informative and relevant story is more important than ever, and journalists are using audience data to better understand what stories generate the traffic and revenue journalists need to thrive in today's media environment." Survey responses also reflect growing concerns around the changing role of social media, an increasing reliance on data-driven storytelling, and the relationship between media and communications professionals. Other key takeaways from the report include: Journalists continue to rely more and more on data to make decisions about the stories they focus on. 65% of journalists globally feel that detailed audience metrics like views and engagement have changed the kinds of content they publish. 43% of respondents focus primarily on readership or views, 20% focus on engagement, and 15% focus on impact on revenue. PR and communications professionals are valuable partners to journalists, especially in this turbulent media environment. However, 75% of journalists said that fewer than 25% of the pitches they receive are relevant. Journalists reported that the single most effective thing PR professionals can do to improve their relationship with the media is to better understand the end customer and provide information more relevant and customized to that audience. Social media is both less- and more- important than ever. Because of the volatile nature of social media in 2018, journalists have increasingly complex feelings about the importance of social media. 38% of journalists surveyed agree that updated social media algorithms- such as changes to the Facebook News Feed- will be the most important technology to impact their work in 2019, which is an increase in the past year. That impact is not always positive, as journalists have concerns about relying on social media for publishing content. To read the full Cision 2019 State of the Media Report, click here. About Cision Cision Ltd (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. Media Contact:  Jenn Deering Davis VP of Communications & Content, Cision cisionpr@cision.com      Photo - https://photos.prnasia.com/prnh/20190424/2444907-2-a  Photo - https://photos.prnasia.com/prnh/20190424/2444907-2-b Source: Cision Related stocks: AMEX:CISN NYSE:CISN Related Links: http://www.cision.com

2019-04-24 13:44

Cision Names Susan Steele As Chief Human Resources Officer

CHICAGO, April 15, 2019 /PRNewswire/ -- Cision® (NYSE: CISN) today announced the appointment of Susan Steele as the company's new global Chief Human Resources Officer. Steele, who brings more than 25 years of human resources expertise to the role, is known for pioneering the use of artificial intelligence in the HR function to improve productivity, enhance the employee experience, and improve business results.   "Over the past four years, Cision has grown aggressively through acquisition," said Kevin Akeroyd, Cision CEO. "Each acquisition has brought in tremendous new talent, and creating an industry-leading employee experience will be a competitive advantage as we move into a new era for Cision. Susan's expertise will be invaluable to our organization as we attract, develop and retain our more than 4,000 employees globally." Prior to joining the Cision executive team, Steele served as HR Reinvention Lead for Global Talent and Transformation at IBM. There, she was responsible for positioning IBM as a preferred partner for the use of AI and automation in the transformation of clients' HR functions. She leveraged agile, analytics, design thinking, digital badges and other innovations to equip IBM clients around the globe for HR reinvention, continuous learning, and employee experience transformation. Steele's 25 years of experience also include HR leadership roles at WPP, Deloitte and Linklaters and earlier investment banking roles at HSBC and JPMorgan Chase. At Cision, Steele will focus on fostering an environment of continuous learning and career mobility, enhancing productivity for all employees via scalable talent processes, resources and technologies, and delivering employee experiences that accelerate client success and revenue growth. "In today's era of continuous disruption, it is increasingly important for fast-growing enterprises, such as Cision, to create the employee-centric environment, experiences and culture critical to client satisfaction and commercial success," said Susan Steele. "Cision is uniquely placed to enable new skills, fuel career growth, and leverage a tradition of innovation; I am excited about Cision's future and the opportunity to help craft a compelling employee and client experience." Steele will be based in Cision's New York office. About Cision  Cision Ltd. (NYSE:  CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. Media Contact:  Jenn Deering Davis VP of Communications & Content, Cision cisionpr@cision.com   SOURCE Cision

2019-04-15 14:56

Cision Reports Fourth Quarter and Full Year 2018 Results; Provides Updated Full Year 2019 Outlook

CHICAGO, Feb. 28, 2019 /PRNewswire/ -- Cision Ltd. (NYSE: CISN), a leading global provider of software and services to public relations and marketing communications professionals, today reported results for the fourth quarter and year ended December 31, 2018. Financial Highlights Fourth Quarter 2018 Revenue increased 10.3% to $186.4 million Revenue, excluding the impact of purchase accounting, increased 9.8% to $186.4 million Operating income increased 198.6% to $20.9 million Net loss decreased 66.7% to $11.5 million Adjusted EBITDA increased 11.1% to $68.0 million Adjusted net income increased 36.7% to $31.4 million Adjusted net income per share increased 25.6% to $0.24 Full Year 2018 Revenue increased 15.6% to $730.4 million Revenue, excluding the impact of purchase accounting, increased 15.6% to $731.9 million Operating income increased 83.2% to $69.6 million Net loss decreased 80.2% to $24.4 million Adjusted EBITDA increased 13.2% to $255.2 million Adjusted net income increased 88.7% to $110.6 million Adjusted net income per share increased 49.2% to $0.86 "We are pleased to have delivered strong financial results for the fourth quarter, concluding a very successful 2018 for the company," said Kevin Akeroyd, Cision's Chief Executive Officer. "We continue to focus our efforts on delivering best-in-class products and services to our customers, and driving towards our long-term financial goals and objectives. Following our acquisitions of Falcon and TrendKite and the divestiture of our email marketing assets, we enter 2019 better positioned than ever to deliver unmatched value to the public relations and marketing communications industry." Fourth Quarter Business Statistics and Operational Highlights Americas revenues increased 9.6% to $129.4 million EMEA revenues increased 10.8% to $48.4 million APAC revenues increased 19.4% to $8.6 million Non-core revenues declined 38.7% to $1.0 million Average pro forma subscription customers increased 4.2% to approximately 42,300 Average annualized pro forma revenue per subscription customer, excluding the impact of currency, decreased 1.3% to approximately $11,100 Customers that purchased services from us on a transaction basis decreased 6.0% to approximately 39,200 Average quarterly pro forma revenue per customer that purchased services from us on a transaction basis, excluding the impact of currency, increased 8.6% to approximately $1,530 Cross-sell bookings of software, distribution and insights in the US increased 55.1% to $5.4 million Cision Communications Cloud platform customers at December 31, 2018 were approximately 9,800 Attribution and data bookings (measured in annual contract value) were approximately $1.0 million Recent Acquisitions On January 3, 2019, we completed our acquisition of Falcon for approximately €105.2 million ($120.1 million). The purchase consideration consisted of approximately €54.1 million ($61.7 million) in cash and the issuance of approximately 5.1 million ordinary shares valued at €51.1 million ($58.4 million). The cash portion of the consideration was funded with a combination of cash on hand and borrowings under our revolving credit facility. On January 23, 2019, we completed our acquisition of TrendKite for approximately $222.4 million. The purchase consideration consisted of approximately $94.1 million in cash and approximately 10.3 million ordinary shares valued at $128.3 million. The cash portion of the consideration was funded with a combination of cash on hand and incremental borrowings under our dollar-denominated term loan facility. Recent Divestiture On January, 22, 2019, we sold our email marketing assets to a strategic buyer. The sale of the email marketing assets resulted from a detailed review of Cision's long-term business strategy and desire to focus on our industry-leading communications cloud platform. We divested our email marketing assets for approximately $49.3 million of cash consideration, with up to an additional $4.0 million in cash consideration based upon meeting certain business performance measures over the next 12 months. Long-Term Debt On December 28, 2018, we entered into an incremental facility amendment to our first lien credit agreement that increased available borrowings under the revolving credit facility from $75.0 million to $100.0 million. As of December 31, 2018, we had no amounts outstanding under our revolving credit facility and we had approximately $1,254 million of borrowings outstanding under our first lien credit facility, consisting of approximately $972.1 million of dollar-denominated term loan borrowings and approximately €246.9 million of Euro-denominated borrowings. On January 2, 2019, we borrowed approximately $40.0 million of dollar borrowings under our revolving credit facility in connection with the closing of the Falcon acquisition, which we repaid in full on January 31, 2019. On January 11, 2019, we entered into an incremental facility amendment to the credit agreement that increased our dollar-denominated term loan facility by $75.0 million. On January 17, 2019, we borrowed $75.0 million of dollar-denominated borrowings under our term loan facility in connection with the closing of the TrendKite acquisition. As of February 27, 2019, we had approximately $1,329 million of borrowings outstanding under our first lien credit facility, consisting of approximately $1,047 million of dollar-denominated term loan borrowings and approximately €246.9 million of Euro-denominated borrowings. Subscription and Transaction Customer Trends All of the figures below exclude our acquisitions of Falcon and TrendKite, and have been adjusted to exclude the impact of currency.   Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018   Q4 2018 compared to Q4 2017 Average pro forma subscription customers 39,761 40,833 40,532 40,628 40,252 41,249 41,661 42,349   4.2% Average annualized pro forma revenue per subscription customer $10,867 $10,882 $11,101 $11,227 $11,153 $11,186 $11,237 $11,086   (1.3%) Pro forma transaction customers 42,869 44,451 40,829 41,670 40,216 41,172 38,152 39,173   (6.0%) Average pro forma revenue per transaction customer $1,297 $1,361 $1,286 $1,405 $1,382 $1,454 $1,356 $1,526   8.6% Updated Full Year 2019 Outlook Our updated outlook for the full fiscal year ending December 31, 2019 appears below (all figures in millions, except share and per share amounts). Additionally, due to our acquisitions and divestiture in January 2019, we have provided an initial outlook for our first quarter ending March 31, 2019. These estimates are based on a number of assumptions that management believes to be reasonable and reflect our expectations as of the date of this release. Actual results may differ materially from these estimates as a result of various factors, and Cision refers you to the cautionary language regarding "Forward Looking Statements" included in this press release when considering this information.   Prior 2019   Updated 2019   Initial Q1 2019   Q1 2018 Revenue $775 - $785   $775 - $785   $185 - $190   $179.3 Revenue, excluding the impact from purchase accounting $782 - $792   $782 - $792   $187 - $192   $180.2 Net income (loss) ($5) - $2   ($1) - $4   ($6) - ($2)   ($0.4) Net income (loss) per share ($0.03) - $0.01   ($0.01) - $0.02   ($0.04) - ($0.01)   $0.00 Adjusted EBITDA $270 - $275   $270 - $275   $61 - $63   $58.3 Adjusted net income $122 - $125   $122 - $125   $28 - $30   $23.1 Adjusted net income per diluted share $0.82 - $0.84   $0.82 - $0.85   $0.19 - $0.20   $0.19 Pro-forma fully diluted weighted average shares outstanding 149.8   148.0   147.5   123.9                                   Prior 2019   Updated 2019   Initial Q1 2019   Q1 2018 Depreciation expense --   $30 - $33   $8 - $9   $7.4 Amortization expense --   $105 - $110   $26 - $27   $25.9 Amortization expense included in cost of revenue --   $24 - $26   $6 - $7   $5.6 Interest expense --   $76 - $79   $19 - $20   $22.1 Debt extinguishment costs --   $0 - $0   $0 - $0   $2.4 Interest expense, net of debt extinguishment costs --   $76 - $79   $19 - $20   $19.7 Cash interest expense --   $64 - $66   $16 - $17   $18.9 Stock-based compensation --   $7 - $10   $2 - $3   $1.3 Capital expenditures, inclusive of capitalized software development --   $38 - $42   $8 - $9   $8.8 The above outlook assumes the inclusion of results from our acquisitions of Falcon and TrendKite from the date of their respective acquisitions through the respective periods ending March 31, 2019 and December 31, 2019, and the inclusion of results from our e-mail marketing assets from January 1, 2019 through the date of its divestiture. The updated outlook above assumes LIBOR of approximately 2.7%, EURIBOR of approximately 0%, and the following exchange rates with respect to the British Pound, the Euro and the Canadian Dollar for fiscal year 2019: GBP to USD 1.29 EUR to USD 1.14 CAD to USD 0.76 Additionally, our outlook for 2019 excludes any additional acquisitions, divestitures, or other unanticipated events. See our discussion of non-GAAP financial measures included in this release. Conference Call and Webcast As previously announced, we will hold a conference call and webcast to review our fourth quarter and full year 2018 financial results on Thursday, February 28, 2019 at 5:00 pm EST. To hear the live event, visit the Cision investor website at http://investors.cision.com, or by dialing 1-877-443-4809 (participant dial in toll free) or 1-412-317-5235 (participant dial in International). For those accessing the call via Cision's investor website, we suggest logging in at least 15 minutes prior to the start of the live event. For those dialing in, participants should ask to be joined into the Cision Ltd. earnings call. A replay of the earnings webcast will be available approximately two hours after the conclusion of the live event on February 28, 2019. To access the webcast recording / conference replay, visit http://investors.cision.com or you can dial 1-877-344-7529 (US), 1-412-317-0088 (International), or 1-855-669-9658 (Canada). The replay access code for the earnings call is 10129049. The replay will be available through March 15, 2019. Supplemental materials regarding the conference call and webcast will be posted to the Cision website at http://investors.cision.com approximately one hour in advance of the conference call and webcast. Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our future financial and operating performance outlook for the fiscal year ending December 31, 2019, as well as information relating to the acquisitions of Falcon.io and TrendKite and our divestiture of certain e-mail marketing assets and our realization of the expected benefits therefrom. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "anticipate," "intend," "plan," "goal," "seek," "aim," "strive," "believe," "see," "project," "predict," "estimate," "expect," "continue," "strategy," "future," "likely," "may," "might," "should," "will," "would," "target," similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Accordingly, you should not place undue reliance on these statements, as actual results may vary materially. A detailed discussion of some of the risks and uncertainties that could cause our actual results and financial condition to differ materially from the forward-looking statements is described under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q filed on November 9, 2018 and our annual report on Form 10-K filed on March 13, 2018, along with our other filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this communication is based only on information currently available to us and speaks only as of the date of this report. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Please consult our public filings at www.sec.gov or www.Cision.com. About Cision Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,500 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. Cision Ltd. and its Subsidiaries Condensed Consolidated Balance Sheets As of December 31, 2018 and December 31, 2017 (in thousands, except for per share amounts) (Unaudited)         2018   2017 Assets       Current assets:         Cash and cash equivalents $          104,769   $          148,654   Accounts receivable, net 120,882   113,008   Prepaid expenses and other current assets 22,824   19,896     Total current assets 248,475   281,558 Property and equipment, net 57,210   53,578 Other intangible assets, net 377,146   456,291 Goodwill 1,171,859   1,136,403 Deferred tax asset 4,034   - Other assets 7,652   7,528     Total assets $       1,866,376   $       1,935,358 Liabilities and Stockholders' Equity       Current liabilities:         Current portion of long-term debt $            13,210   $            13,349   Accounts payable 15,603   13,327   Accrued compensation and benefits 29,323   25,873   Other accrued expenses 82,507   73,483   Current portion of deferred revenue 139,725   140,351     Total current liabilities 280,368   266,383 Long-term debt, net of current portion 1,205,760   1,266,121 Deferred revenue, net of current portion 1,098   1,412 Deferred tax liability 69,232   62,617 Other liabilities 21,601   22,456     Total liabilities $       1,578,059   $      1,618,989 Commitments and contingencies       Stockholders' equity:         Preferred stock, $0.0001 par value, 20,000,000 shares authorized; no shares issued and outstanding at December 31, 2018 and 2017 -   -   Common stock, $0.0001 par value, 480,000,000 shares authorized; 132,716,541 and 122,634,922 shares issued and outstanding at December 31, 2018 and 2017, respectively 13   12   Additional paid-in capital 797,222   771,813   Accumulated other comprehensive loss (68,941)   (35,111)   Accumulated deficit (439,977)   (420,345)     Total stockholders' equity 288,317   316,369      Total liabilities and stockholders' equity $       1,866,376   $       1,935,358 Cision Ltd. and its Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except for per share amounts) (Unaudited)         Three Months Ended December 31,   Year Ended December 31,       2018   2017   2018   2017 Revenue $        186,369   $        168,959   $        730,373   $    631,637 Cost of revenue 66,580   53,265   266,792   200,836     Gross Profit 119,789   115,694   463,581   430,801                     Operating costs and expenses:                 Sales and marketing 30,750   31,519   116,095   114,750   Research and development 7,713   5,423   29,995   22,102   General and administrative 40,298   48,940   167,060   166,759   Amortization of intangible assets 20,134   22,853   80,815   89,159     Total operating costs and expenses 98,895   108,735   393,965   392,770     Operating income 20,894   6,959   69,616   38,031                     Non operating income (expense):                 Foreign exchange gains (losses) 3,013   (3,626)   13,290   (5,458)   Interest and other income (expense), net (589)   (318)   (117)   2,132   Interest expense (18,067)   (20,160)   (78,014)   (116,466)   Loss on extinguishment of debt (6,992)   -   (9,424)   (51,872)     Total non operating loss (22,635)   (24,104)   (74,265)   (171,664)     Loss before income taxes (1,741)   (17,145)   (4,649)   (133,633) Provision for (benefit from) income taxes 9,729   17,347   19,745   (10,591)     Net loss (11,470)   (34,492)   (24,394)   (123,042) Other comprehensive income (loss)-foreign currency translation adjustments (12,048)   2,826   (32,844)   38,791     Comprehensive loss $       (23,518)   $       (31,666)   $       (57,238)   $    (84,251)                     Net loss per share:                 Basic and diluted $            (0.09)   $            (0.28)   $            (0.19)   $        (1.63) Weighted average shares outstanding used in computing per share amounts:                 Basic and diluted 132,714,691   121,917,531   128,819,858   75,696,880 Cision Ltd. and its Subsidiaries Condensed Consolidated Statements of Cash Flows For the Years Ended December 31, 2018 and December 31, 2017 (in thousands) (Unaudited)           2018   2017 Cash flows from operating activities       Net loss $  (24,394)   $ (123,042) Adjustments to reconcile net loss to net cash provided by operating activities:         Depreciation and amortization 133,821   139,474   Non-cash interest charges and amortization of debt discount and deferred financing costs 17,498   65,554   Equity-based compensation expense 5,267   4,138   Provision for doubtful accounts 4,409   3,493   Deferred income taxes (105)   (23,278)   Unrealized currency translation losses (gains) (13,533)   5,011   Gain on sale of business -   (1,785)   Other 5,441   (194)   Changes in operating assets and liabilities, net of effects of acquisitions and disposal:           Accounts receivable (7,784)   (6,349)     Prepaid expenses and other current assets  1,682   1,579     Other assets  742   737     Accounts payable 728   (3,831)     Accrued compensation and benefits 3,530   (6,235)     Other accrued expenses (3,466)   4,068     Deferred revenue 1,808   4,887     Other liabilities 1,484   4,621       Net cash provided by operating activities 127,128   68,848               Cash flows from investing activities       Purchases of property and equipment (14,629)   (10,734) Software development costs (19,804)   (14,953) Acquisitions of businesses, net of cash received of $2,711 and $12,355 (66,463)   (78,528) Proceeds from disposal of business -   23,675 Other   (24)   552       Net cash used in investing activities (100,920)   (79,988)               Cash flows from financing activities       Proceeds from revolving credit facility -   5,000 Repayment of revolving credit facility -   (38,475) Payment of amounts due to Cision Owner -   (1,940) Proceeds from term credit facility, net of debt discount of $10,466 -   1,350,259 Repayments of term credit facility (63,297)   (1,497,838) Payments on capital lease obligations -   (171) Payments of deferred financing costs (850)   - Proceeds from merger and recapitalization -   305,110 Payment of contingent consideration (2,873)   –       Net cash provided by (used in) financing activities (67,020)   121,945 Effect of exchange rate changes on cash and cash equivalents (3,073)   2,714       Increase (decrease) in cash and cash equivalents (43,885)   113,519               Cash and cash equivalents       Beginning of year 148,654   35,135 End of the year $ 104,769   $  148,654               Supplemental disclosure of cash flows information       Cash paid during the year for:       Interest $   69,816   $  102,400 Income taxes 17,538   10,250 Supplemental non-cash information:       Issuance of securities by Cision Owner in Connection with acquisitions -   7,000 Non-cash contribution from Cision Owner in connection with merger -   451,139 Issuance of shares for acquisition 20,143     Use of Non-GAAP Financial Measures Non-GAAP results are presented only as a supplement to our financial statements based on US generally accepted accounting principles (GAAP). Non-GAAP financial information is provided to enhance the reader's understanding of our financial performance, but none of these non-GAAP financial measures are recognized terms under GAAP, and non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. Reconciliations of the most directly comparable GAAP measures to non-GAAP measures, such as Adjusted EBITDA, and Adjusted net income per share, are provided within the schedules attached to this release. We use non-GAAP measures in our operational and financial decision-making, believing that it is useful to exclude certain items in order to focus on what we deem to be a more reliable indicator of ongoing operating performance and our ability to generate cash flow from operations. As a result, internal management reports used during monthly operating reviews include Adjusted EBITDA, and Adjusted net income per share. Additionally, we believe that the presentation of non-GAAP measures provides information that is useful to investors as it indicates, for example, our ability to meet capital expenditures and working capital requirements and otherwise meet our obligations as they become due. Investors are cautioned that non-GAAP financial measures are not a substitute for GAAP disclosures. This communication also includes certain forward-looking non-GAAP financial measures. We are unable to present without unreasonable efforts a reconciliation of forward-looking non-GAAP financial information to the corresponding GAAP financial information because management cannot reliably predict all of the necessary information. Forward-looking non-GAAP financial information is based on numerous assumptions, including assumptions with respect to general business, economic, market, regulatory and financial conditions and various other factors, all of which are difficult to predict and many of which are beyond our control. Accordingly, investors are cautioned not to place undue reliance on this information. Non-GAAP measures are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to Cision, many of which present non-GAAP measures when reporting their results. These measures can be useful in evaluating our performance against our peer companies because we believe the measures provide users with valuable insight into key components of GAAP financial disclosures. However, non-GAAP measures have limitations as an analytical tool. Non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies. They are not presentations made in accordance with GAAP, are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. As a result, you should not consider such performance measures in isolation from, or as a substitute analysis for, results of operations as determined in accordance with GAAP. Cision Ltd. and its Subsidiaries Reconciliation of Net Loss to EBITDA and Adjusted EBITDA (in millions) (Unaudited)     Three Months Ended December 31, 2017   Three Months Ended December 31, 2018   Year Ended December 31, 2017   Year Ended December 31, 2018 Net loss $                       (34.5)   $                       (11.5)   $                   (123.0)   $                     (24.4) Depreciation and amortization 36.1   33.6   139.5   133.8 Interest expense and loss on extinguishment of debt 20.2   25.1   168.3   87.5 Provision (benefit) for income taxes 17.3   9.7   (10.6)   19.7 EBITDA (1) 39.1   56.9   174.2   216.6 Acquisition and offering related costs 16.7   12.7   42.2   45.3 Stock-based compensation 1.2   1.6   4.1   5.3 Deferred revenue reduction from purchase accounting 0.7   -   1.5   1.5 Gain on sale of business -   -   (1.8)   - Sponsor fees and expenses -   -   0.3   - Unrealized translation (gain) loss 3.5   (3.2)   5.0   (13.5) Adjusted EBITDA (2) $                         61.2   $                         68.0   $                    225.5   $                    255.2 Cision Ltd. and its Subsidiaries Reconciliation of Net Loss to Adjusted Net Income and Adjusted Net Income per Diluted Share (in millions, except for per share and share amounts) (Unaudited)     Three Months Ended December 31, 2017   Three Months Ended December 31, 2018   Year Ended December 31, 2017   Year Ended December 31, 2018 Net loss $                      (34.5)   $                      (11.5)   $                  (123.0)   $                    (24.4) Provision (benefit) for income taxes 17.3   9.7   (10.6)   19.7 Acquisition and offering related costs 16.7   12.7   42.2   45.3 Gain on sale of business -   -   (1.8)   - Stock-based compensation expense 1.2   1.6   4.1   5.3 Deferred revenue reduction from purchase accounting 0.7   -   1.5   1.5 Amortization related to acquired intangible assets 29.2   26.0   113.8   104.1 Non-recurring interest and loss on extinguishment of debt -   7.1   55.9   11.4 Sponsor fees and expenses -   -   0.3   - Unrealized translation (gain) loss  3.5   (3.2)   5.0   (13.5) Adjusted Income before income taxes 34.1   42.4   87.4   149.4 Less: Income tax at a 26% rate for 2018, and a 33% rate for 2017 (11.2)   (11.0)   (28.8)   (38.8) Adjusted net income (3) $                        22.9   $                        31.4   $                      58.6   $                   110.6 Pro forma fully-diluted weighted average shares outstanding 121,917,531   132,714,891   102,035,003   128,819,858 Adjusted net income per diluted share (4) $0.19   $0.24   $0.57   $0.86 Cision Ltd. and its Subsidiaries Reconciliation of Net Cash Provided by Operating Activities to Adjusted Net Cash Provided by Operating Activities (in millions) (Unaudited)     Three Months Ended December 31, 2017   Three Months Ended December 31, 2018   Year Ended December 31, 2017   Year Ended December 31, 2018 Net cash provided by operating activities $                        30.5   $                        37.3   $                      68.8   $                   127.1 Acquisition and offering related costs 16.7   12.7   42.2   45.3 Adjusted net cash provided by operating activities (5) $                        47.2   $                        50.0   $                   111.0   $                   172.4     (1) Cision defines EBITDA as net income (loss), plus depreciation and amortization expense, plus interest expense and loss on extinguishment of debt, plus provision for (or minus benefit from) income taxes.     (2) Cision defines Adjusted EBITDA as EBITDA, further adjusted for acquisition and offering related costs, stock-based compensation, deferred revenue reduction from purchase accounting, (gains) losses related to divested businesses or assets, sponsor fees and expenses, and unrealized translation losses (gains). All of the items included in the reconciliation from net income to Adjusted EBITDA are either non-cash items or are items that we consider to be less useful in assessing our operating performance. In the case of the non-cash items, we believe that investors can better assess our operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect our ability to generate free cash flow or invest in our business. For example, by excluding depreciation and amortization from EBITDA, users can compare operating performance without regard to different accounting determinations such as useful life. In the case of the other items, we believe that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.     (3) Cision defines Adjusted net income as net income (loss) plus provision for (or minus benefit from) income taxes, further adjusted for acquisition and offering related costs, (gains) losses related to divested businesses or assets, stock-based compensation, deferred revenue reduction from purchase accounting, amortization related to acquired intangibles, non-recurring interest and losses on extinguishment of debt, sponsor fees and expenses, and unrealized translation losses (gains), which together, sum to Adjusted net income (loss) before income taxes. Adjusted net income (loss) before income taxes is then taxed at an assumed long term corporate tax rate of 33% for 2017 and periods prior, and 26% for 2018 and beyond, pursuant to our preliminary analysis with respect to recent U.S. tax law changes, to determine Adjusted net income. The enactment of the Tax Cuts and Jobs Act in December 2017 resulted in a provisional net one-time tax of $11.9 million in the fourth quarter of 2017 based on a reasonable estimate of the income tax effects, primarily from a tax on accumulated foreign earnings, the remeasurement of deferred tax assets and liabilities and new limitations on the deductibility of interest. Our calculation of Adjusted net income excludes this provisional net one-time tax. We continue to finalize the analysis of the tax reform provisions in 2018. All of the items included in the reconciliation from net income to Adjusted net income are either non-cash items or are items that we consider to be less useful in assessing our operating performance. In the case of the non-cash items, we believe that investors can better assess our operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect our ability to generate free cash flow or invest in our business. For example, by excluding the amortization related to acquired intangibles, users can compare operating performance without regard to highly variable amortization expenses related to our acquisitions. In the case of the other items, we believe that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.     (4) Cision defines Adjusted net income per diluted share as Adjusted net income, as defined above, divided by the fully-diluted pro forma weighted average shares outstanding for the period. The fully-diluted pro forma weighted average shares outstanding for the respective period assume that the exchange of shares pursuant to our merger with Capitol Acquisition III had taken effect as of the beginning of such period. Additionally, for purposes of calculating the number of fully diluted shares outstanding, we have excluded the potential impact of dilution from outstanding warrants to purchase shares of our common stock prior to the dates of their conversion, and stock options and restricted units issued and outstanding pursuant to our 2017 Omnibus Incentive Plan. During the second quarter of fiscal 2018, we issued an aggregate of 6,342,989 ordinary shares (6,100,209 ordinary shares on May 18, 2018 and 242,780 ordinary shares on June 4, 2018), in exchange for all of our outstanding warrants, pursuant to the completion of our warrant exchange transactions. During the third quarter of 2018, we issued 2,000,000 ordinary shares for the earn-out achieved during the quarter. Commencing on these respective issuance dates, we included the issued shares in our fully-diluted pro forma weighted average share count.     (5) Cision defines Adjusted net cash provided by operating activities is defined as net cash provided by operating activities adjusted for acquisition related costs and expenses. Investor Contact: Jack Pearlstein Chief Financial Officer Jack.Pearlstein@cision.com Media Contact: Jenn Deering Davis VP, Communications Jenn.Deering.Davis@cision.com

2019-02-28 15:40

Cision® Acquires TrendKite, Extending Its Leadership in Measurement & Attribution

Building on its vision of Earned Media Management, Cision enhances its award-winning Cision Communications Cloud® with TrendKite's advanced measurement and AI capabilities CHICAGO, Jan. 23, 2019 /PRNewswire/ -- Cision (NYSE:  CISN) today announced it has acquired Digital PR platform provider TrendKite. Based in Austin, Texas, TrendKite harnesses artificial intelligence and analytics to help brands understand the effect communications programs have on corporate reputation, website traffic and business outcomes. TrendKite is led by CEO Erik Huddleston, an industry veteran with a stellar track record solving CMOs' most challenging problems through innovative technology. Erik will become President of Cision following the transaction.  Cision + TrendKite TrendKite enables communicators to quantify the business value of their marcomms campaigns. The addition of TrendKite extends Cision's vision for Earned Media Management – the unification of technology, data, measurement, and analysis to modernize the comms function from an expense into a business driver. The Digital PR platform will continue to be offered as a stand-alone application. In the long-term, TrendKite will become part of the Cision Communications Cloud product offering. Marketers and communicators will now have the following enhanced capabilities: Sophisticated measurement with approachable user experience: Cision Impact, the industry's first technology for true campaign measurement and attribution, leverages a robust ecosystem of ad tech and audience data providers, demonstrating how earned media content consumption translates into revenue-generating activities. When integrated into the Cision Communications Cloud, the combination of these attribution capabilities with TrendKite's platform will deliver marketers the most sophisticated campaign measurement available, all with an industry-leading user experience. Comprehensive media monitoring & analysis: Cision's media monitoring platform taps into millions of earned media sources across online, print, broadcast, and social media. Combining TrendKite's AI capabilities with Cision's global content footprint will deliver the insights communicators need to optimize campaign programs and enhance performance through improved reporting and analytics. Enhanced earned media targeting: TrendKite's social influencer management functionality enables brands to identify and build relationships across platforms with a range of personalities, from the world's most influential people to niche subject matter experts. Coupled with the Cision Influencer Graph, which understands the connections between an influencer, the content they create, and the audiences they reach, Cision will offer more insights for brands to effectively reach their target audience through earned media outreach. "Recent research conducted by Cision with PR Week found that 77 percent of CMOs and CCOs believe they can improve comms measurement and business objective attribution relative to the status quo," said Kevin Akeroyd, Cision CEO. "Combining Cision and TrendKite will address this important objective for industry professionals worldwide." "TrendKite and Cision share the same mission of helping clients improve the results of earned media campaigns," said Erik Huddleston, TrendKite CEO. "Combining our offerings and capabilities with Cision's comprehensive earned media platform will allow us to powerfully impact the marketing communications industry and provide best-in-class PR and communications solutions." To learn more about the Cision Comms Cloud™ click here. About Cision  Cision Ltd. (NYSE:  CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,000 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision. About TrendKite Founded in 2013 in Austin, Texas, TrendKite is the Digital PR Platform that puts earned media at the heart of the marketing mix. By harnessing artificial intelligence and big data analytics to optimize the impact public relations has on a brand's reputation, website traffic and business goals, TrendKite is transforming the way the world views earned media. For more information, visit TrendKite.com and follow @TrendKite on Twitter. Media Contacts: Nick Bell VP Marketing Communications & Content, Cision cisionpr@cision.com Steph Macleod Kaizo for Cision cision@kaizo.co.uk  SOURCE Cision Related Links http://www.cision.com

2019-01-23 09:31
12345 ... 11