Altium provides fourth quarter and preliminary full-year results for financial year ending 30 June, 2007
SYDNEY, Australia – 12 July, 2007 – Altium Limited (ASX: ALU), the leading developer of unified electronic product design solutions, has announced its preliminary sales results for the three months ending 30 June, 2007, and the financial year ending 30 June, 2007.
• FY 2006/7 sales grew 31% measured in local currencies, and 26% measured in Australian dollars
• FY 2006/7 revenue grew 18%, measured in Australian dollars
• FY 2006/7 EBITDA expected to be approximately AU$6.5 million
• FY2006/7 cash position at 30 June, 2007 was AU$10.7 million, up 67%
• Q4 sales grew 30% measured in local currencies, and 19% measured in Australian dollars
• Q4 revenue grew 13%, measured in Australian dollars
Note on sales and revenue
In the figures that follow, the difference between sales and revenue figures reflects those orders for which revenue is recognized over time. An example of this is a maintenance contract.
Reporting sales and revenue figures in this way indicates the growth in sales for goods other than software licenses (for example, maintenance contracts), and future revenue that can be expected from these sales.
Preliminary FY 2006/7 results
For the financial year ending 30 June, 2007, sales were AU$57.5 million, up 26% from AU$45.5 million for the corresponding period a year ago.
Altium operates in three regions around the world: the Americas, Europe (also including the Middle East and Africa), and the Asia-Pacific region (APAC). For the full financial year ending 30 June, 2007, sales for the Americas grew 30% measured in US$; European sales grew 17% measured in euros; and APAC sales grew 67% measured in US$, all compared with the corresponding period a year ago.
Revenue for the full year ending 30 June, 2007 is AU$53.3 million, up 18% from AU$45.1 million reported for the corresponding period a year ago.
For the financial year ending 30 June, 2007, the balance of revenue not yet recognized is AU$9.1 million, up 75% from a balance of AU$5.2 million from the corresponding period as at a year ago.
The cash balance as at 30 June, 2007 is AU$10.7 million, up 67% from AU$6.4 million at the corresponding date a year ago. The accounts receivables balance as at 30 June, 2007 is AU$15.3 million, up 20% from AU$12.8 million at the corresponding date a year ago.
Altium anticipates that when it confirms its full year results in mid-August, it will deliver EBITDA of approximately AU$6.5 million. Profit before tax will be approximately AU$1.5 million.
Q4, FY 2006/7 results
For the three months ending 30 June, 2007, sales were AU$19.2 million, up 19% from the corresponding quarter a year ago.
All three regions recorded sales growth in the three months ending 30 June, 2007. Sales for the Americas grew 28% measured in US$; European sales grew 24% measured in euros; and APAC sales grew 51% measured in US$, all compared with the corresponding quarter a year ago.
For the same period, revenue was AU$17.3 million, up 13% from AU$15.3 million for the corresponding quarter a year ago.
Comments from Nick Martin, CEO of Altium Limited
Nick Martin, CEO of Altium Limited, commented: “It’s pleasing to see our company strategy driving our positive financial results.
“All our key markets are starting to see the effects of the way our sales force is helping our customers understand and use the benefits of this unified approach in their organizations.
“Altium is also seeing increasing sales of maintenance and support contracts, on the back of our increasing licence sales. This includes revenue not yet recognized because it relates to delivery over a period of time.
“That this balance has increased for the year by 75% is an indication of our continuing success in growing our installed base of customers, and of our growth in sales overall.
“Altium’s software helps electronic design engineers exploit the new technologies that continue to become more affordable, in particular programmable devices. Our customers can overcome the pressures of creating electronic designs of increasing complexity on schedule and on budget, by using Altium products. These trends, linked to our latest results, give us confidence for the future.”
Altium Limited (ASX:ALU) is the leading developer of electronic product development solutions dedicated to unifying the different design disciplines involved in electronics product development. Altium products ensure all electronic engineers, designers, developers, and their organizations, take maximum advantage of emerging design technologies to bring smarter products to market faster and easier. Founded in 1985, Altium has headquarters in Sydney, Australia, sales offices in the United States, Europe, Japan, China, and resellers in all other major markets.
For more information, visit us at www.altium.com.