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Altium announces half-year report

Posted: 23 Mar 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Altium?

Altium Ltd announced that the market of its half year ending Dec. 31, 2005 achieved revenues of $13.8 million, up approximately 4 percent on the results reported for the previous year. In local currency terms this represented an increase in product sales of 14 percent.

According to the press release, the increase in revenue, combined with prudent management of costs, narrowed Altium's operating loss before tax from $2.6 to $1.6 million. In addition, EBITDA moved up to $695,000 compared to a negative EBITDA of $439,000 in the previous year.

By far the most compelling growth was observed in the Q2 ending Dec. 31, 2005 where the company reported revenue growth of 13 percent compared to the same period in the previous year. Reflective of the company's focus on its core software business, this consolidated upward trend is expected to continue, fuelled by increased market penetration and driven by growth in Altium Designer 6.0 product revenues from new license sales, subscription programs and existing customer upgrades.

"Altium has had a pleasing start to the 2005 fiscal year. We are anticipating that these encouraging results will continue to improve as we move forward," said Nick Martin, Altium CEO and founder. "With our enduring commitment to technology innovation, solid execution of aggressive market penetration strategies, further optimizations of organizational efficiencies and the continued development of a team of passionate and highly skilled employees, we are confident that these measures will deliver returns to all Altium stakeholders over the long term."




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