Preliminary FY 2006/07 half-year and second quarter update
SYDNEY, Australia – January 10, 2007 – Altium Limited (ASX: ALU), industry-leading developer of unified electronic product development solutions, today advises the market of its preliminary results for the half year ending 31 December, 2006 and second quarter for 2006/07 financial year.
Preliminary FY 2006/07 half-year update
Altium expects revenues for the FY 2006/07 half-year will be AU$23.5m, up 22% from AU$19.3m as reported for the previous corresponding half-year. Results were driven by a 32% increase in product sales where growth across all regions was robust – Americas delivered 38% growth, Asia-Pacific 60%, Europe 14% – for the 6-month period ending December 31, 2006.
“We’ve made a solid start to an important year for the company” said Nick Martin, Founder and CEO, Altium Limited. “It is encouraging to see demand for our Altium Designer unified product line continuing to gain world-wide momentum and we remain committed to investing in organizational development programs to ensure we are in the best position possible to keep delivering positive results.”
Commenting on these results, Darren Charles, CFO, Altium Limited said “We’ve been asked recently why our revenue growth is different to our sales growth. This is because an increasing percentage of our customers are purchasing 12-month maintenance contracts and so, for accounting purposes, we need to recognise the revenue for these sales over the term of the contract. In addition, even though the revenue is deferred, the cash flow benefit of these sales is received at the time of purchase.”
Altium will provide further details on it’s results for the period ending 31 December 2006 in it’s half-yearlyreport which is due late February 2007.
Q2, FY 2006/07 results
For the quarter ending 31 December 2006, Altium has achieved revenues of AU$14.1m, up 18% from AU$11.9m as reported for the previous corresponding quarter. With all regions posting healthy product sales growth – Americas up 40%, Asia-Pacific up 35% and Europe up 16% – this resulted in an overall sales increase of 29%..
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, please visit www.altium.com.
Altium, Altium Designer, LiveDesign, and their respective logos are trademarks or registered trademarks of Altium Limited or its subsidiaries. All other registered or unregistered trademarks referenced herein are the property of their respective owners, and no trademark rights to the same are claimed.