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Altium Q1 sales and revenue update for FY09
Altium reports sales growth of 28% and revenue growth of 22%
For the Q1 period ending 30 September 2008, Altium reports:
- Sales of US$12.19 million, an increase of 28% over the previous corresponding period
- Revenue of US$12.63 million, an increase of 22% over the previous corresponding period
- Software license revenue of US$7.52 million an increase of 22% over the previous corresponding period
- Maintenance/Software Assurance contract revenue of US$4.30 million an increase of 33% over the previous corresponding period
Sales grew, measured in local currencies by 15% in the Americas (US$); by 30% in Europe (?); by 73% in China (US$) and by 7% in APAC excluding China (US$).
The deferred revenue at 30 September 2008, reflecting the difference between recognized revenue and maintenance revenue yet to be recognized, grew by 50% to US$10.58 million, compared to 30 September 2007.
"We are pleased to report continued sales growth as we gain further traction for our next generation electronics design solutions and as our strengthened sales organization gains momentum," said Nick Martin, Altium Founder and CEO. "In working to our financial model that we presented to shareholders in April 2008, we expect this growth rate to continue across all regions to finish the year at our 25%+ sales growth target whilst holding our operational cost growth within our single digit target. As planned for, this indicates a healthy return to our bottom line this financial year, including for our first half."
Altium's next Investor Update will be available on October 30, 2008.
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