Altium Narrows H1 Net Loss as PCB Tool Sales Rise Print E-mail
Written by Mike Buetow   
Wednesday, 27 February 2013 17:35

SHANGHAI -- Altium reported improved financial results for its fiscal first half ended Dec. 31 as sales grew in all regions.

The printed circuit board design software developer reported operating profits rose 7% from a year ago to $3.7 million. The net loss of $4.4 million, an improvement of 38% from the previous year. Revenue rose 10% to $29 million, of which sales (up 7%) made up $28.4 million. The results include $2.4 million in restructuring costs. The company now has $9.5 million in cash on hand.

By region, sales to the Americas were up 18% to $10.8 million, Europe and Middle East sales rose 8% to $8.69 million, and sales within China rose 3% to $3.57 million. Asian sales not including China were up 7% to $2.63 million.

In a statement, CEO Kayvan Oboudiyat said, "We anticipate sales growth to continue into the second half supported by the recent major product release, Altium Designer 2013, and opening up Altium's design platform extending Altium's reach. Opening up Altium's design platform enables the formation of strategic partnerships with key players in the industry and supports additional capabilities as part of our long-term product development plan. Encouraging sales growth and our focus on exercising fiscal discipline has enabled us to deliver a return to our shareholders in the form of an AUD 3 cent dividend. As Altium continues to build financial strength and maintains focus on our core technologies, customers and partners, we believe that we are well placed to deliver on our business objectives."

Last Updated on Wednesday, 27 February 2013 17:43




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