SYDNEY – Altium reported sales for fiscal fourth-quarter 2010 of $15.1 million, up 4% year-over-year.

Sales for the second half of the year were up 9% to $26.2 million compared to the corresponding period a year ago, and increased 29% from the first half.

The electronics design software company said sales for fiscal 2010 were $46.5 million, down 10% compared to 2009. The operating loss was $1.2 million, and the net loss was $10.4 million.

The company’s cash as of June 30 increased $1.4 million to $4.8 million.

“It was pleasing to see sales grow across all regions (with the exception of China) in the second half compared to the first, but we remain cautious with our expectations for the new financial year,” said CEO Nick Martin.

“Overall we had a very difficult year in China. We believe that the fall in sales in China during the year reflects a petering out of our license compliance business program. China has experienced some economic difficulties, and complying with license requirements has dropped down the priority list for many organizations. During this new financial year we will be launching new initiatives in this region to reinvigorate our momentum in China.”