SYDNEY -- Altium today reported revenue for the first six months of 2018 of $78 million, up 18.1% from a year ago. Net profit jumped 24% to $22.6 million for the company's fiscal second half ended Jun. 30.

For the fiscal year ended Jun. 30, Altium reported record revenue of $140.2 million, up 26% from the previous year. Net profit rose 34% to $37.5 million. Board and systems revenue grew 24% to $108.8 million, on broad results from all regions, especially China. New seats for the company's Altium Designer PCB desig software grew 15% compared with last year. The subscription pool for recurring revenue grew 10% to reach over 37,900.

The firm's Board and Systems unit includes Altium Designer, Circuit Studio, and SolidWorks PCB.

By geography, the Americas was the up 13% to 44.8 million, EMEA was up 28% to 32.8 million euros, China rose 29% to $14.4 million, and rest of world grew 25% to $10.9 million. Sales at the company's Octopart unit grew 56% to $12 million, while Tasking grew 23%.

EBITDA margin was up 200 basis points to 32%, and operating cash flow rose 35% to $48.5 million.

Altium Designer license seats increased by 15% to reach 6,321 licences sold for the full year

In a statement Aram Mirkazemi, CEO, said: “After six years of consecutive growth and profitability, Altium has delivered its strongest ever performance. Altium grew its revenue by 26% and its net profit by 34%. We have been strong and potentiating in all markets and across all business units. From China to EMEA and the US, and from Tasking to Octopart, Altium’s FY18 performance has been an absolute stand out.”

He added that the company is on track to reach its 2020 revenue target of $200 million.

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