Revenue was down 9.7% to $1.58m while gross profit dropped 8.5% to $1.07m. Operating profit stood at $50,000 compared to $270,548 the previous year.

Chairman and CEO Bob Chua attributed a net loss of just over $8,000, compared to a profit of $237,000 last year, to costs associated with expansion and the development of a range of new tools and services, including social media measurement and analysis offerings.

Despite seeing an increase in revenue in Europe, Chua said that the market research industry in the West “remained relatively flat” and as a result, the company had focused on Asia Pacific-based clients over the past year.

He said: “This is starting to pay off, resulting in new account wins, contract renewals and a healthy pipeline for 2012. Our focus on innovation is leading us towards the next frontier of consumer insights measurement, where we believe that we are in the forefront, especially in Asia.”