SYDNEY -- Altium reported fiscal first-quarter sales rose 3% year-over-year to $11.7 million. For the period ended Sept. 30, total revenue was up 12% to $14.6 million.

Deferred revenue rose 40% year-over-year to $27.2 million, the printed circuit board design software company added.

The results were in line with company expectations.

At quarter's end cash on hand was up 73% to $20.8 million.

Altium CFO Richard Leon said, "Altium has continued to deliver moderate sales growth for the quarter ending 30 September 2013 while restructuring our sales organization to ensure the delivery of sales growth for FY14 and beyond. The September quarter is traditionally the company's lowest sales quarter.

By region, the Americas was down 5% to $4 million, EMEA was down 6% to $3.4 million, China was up 19% to 1.9 million and APAC was up 30% to $1.3 million.

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