SYDNEY – Altium Ltd. swung to a fourth-quarter pretax profit despite a sales drop of 28% from a year ago.

The firm posted a pretax profit of $224,000, up from a loss of $3.7 million last year. The company reported sales of $14.5 million for the period ended June 30.

The electronics design software company reported fiscal 2009 sales of $51.3 million, down 8% year-over-year. Pretax earnings for the Save year were $4.8 million, up 88% compared to 2008. The net loss was $337,000, up 88% from a loss of $2.8 million. Cash flow from operations improved 75% to 5.3 million.

In a statement, Altium CEO Nick Martin said, “Although we delivered strong growth in sales in the first half of the financial year, as expected the difficult worldwide economic conditions slowed things down somewhat during the second half of the financial year. Our response has been on three levels: firstly, we have tightened our costs, which allowed us to improve our profitability even in this difficult environment. This also positions us strongly for the year ahead."

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