SAN DIEGO -- Altium reported fiscal first-half revenue rose 14% year-over-year to $48.7 million.
For the period ended Dec. 31, pretax profit was up 11% to $10.8 million, net income rose 8% to $9.86 million and EBITDA was up 18% to $12.55 million.
At the end of the half, Altium had cash on hand of $36.3 million.
In announcing the results, Altium said it is on track to attain its EBITDA margin goal of 30% or greater for the full year, and also set to exceed its revenue target of $100 million in revenue for the full year. "Altium is confidently moving toward its 2020 goals of $150 million in PCB revenue and $200 million in total revenue," the firm added.
"PCB market leadership is critical for Altium’s long-term vision to bring fundamental change to the Electronics Design Automation industry. This change will come through the democratization of electronics design, disintermediation and the commoditization of high-end technology, the transformation and deregulation of enterprise solutions and practices, and the formation of a circle of partnership between EDA and the wider Electronics Products engineering community. Altium is committed to the delivery of consistent financial performance based on the successful execution of its 'line and length' strategy and the achievement of double-digit sales and revenue growth while expanding margin."
Altium Board and Systems revenue grew to $39.3 million during the first half of fiscal 2017 and sales to US customers were up 14% to $38.3 million. The number of Altium Designer software licenses rose 9% to 16,075 while subscriptions were up 10% to 20,605.
Search advertising revenue jumped 147% to $3.5 million.
Revenue growth in China was up 27% and APAC was up 26% compared with the same period a year ago. In the Americas, Board and Systems revenue grew 5%. Octopart revenue was $3.5 million, up 65%