SYDNEY -- Altium today reported fiscal third revenue $18.5 million, up 10% from a year ago.

For the quarter ended Mar. 31 sales were up 13% to $20.5 million. As of Mar. 31, the company had cash on hand of $61.9 million, up 5% from the end of 2014.

The company saw strength in the Americas and EMEA, the latter due to from delayed sales from the previous quarter. APAC was flat in the quarter, with Altium saying management will "assess unrealized market opportunities" in North Asia, especially in South Korea and Japan.

In a statement, Altium CFO Richard Leon said: "We expect the EMEA region to continue to operate at a level of sales and revenue that will reduce the impact from a weakened Euro currency. Altium continues to see significant opportunity in China. Over the mid-term Altium is transitioning its sales strategy to value-based selling through the provision of services. We remain confident of achieving our full year fiscal year 2015 objective of delivering double-digit growth in sales and revenue."

Altium also said its board has decided to discontinue quarterly reporting.

"During the investor roadshow in Sydney and Melbourne in February, management described and compared the seasonality of Altium’s quarterly business relative to the steady annual growth delivered by Altium over past years. The overwhelming view of the investor community was that Altium has reached a level of maturity that allows it to focus on driving its business and, consistent with market practice, provide full year and half year reporting," the company said.