SYDNEY, AUSTRALIA – Altium Ltd.
reported first-half sales increased 18% from last year to $27.2 million. Revenue grew 14% to $26.7 million, compared to $23.4 million last year.
EBITDA for the half year, ending December 31, was $3.7 million, compared to a negative of $0.6 million in 2007. The company realized a $740,000 net profit after taxes, a welcomed change from its $1.9 million net loss a year ago.
Altium has experienced a slow down in customer purchases, due to the economic outlook for 2009, but it expects a continued profitability from a weaker Australian dollar. The company has also lowered costs in several poorer performing regions and central operations, as well as directing investments to growth regions such as China, Asia and Eastern Europe.