Sydney, Australia (PRWEB UK) 5 July 2013
Electronics design software company Altium Limited (ASX:ALU) has announced an unaudited update on its financial results for the financial year ending 30 June 2013.
Fourth-quarter and second-half summaries
Sales for the three months ending 30 June 2013 grew 20% to US$24 million, compared to the corresponding period a year ago.
In the second half of the financial year, sales increased by 18% to US$41 million, compared to the corresponding period a year ago.
Financial year summary
Sales for the financial year ending 30 June 2013 grew 13% to US$69 million, compared to the corresponding period a year ago.
Underlying Profit based on management accounts for the financial year ending 30 June 2013 grew by approximately 40% from US$13.6 million to approximately US$19 million.
The cash balance as at 30 June 2013 was US$15 million, up 11% from the corresponding period a year ago.
Comments from Richard Leon, CFO
The expected underlying profit reflects an effective implementation of the first year of our Corporate Strategy as outlined to shareholders in our March presentation.
During the year we generated approximately US$14 million in cash that allowed us to absorb the impact of US$3.6 million in restructuring and other expenses as reported in our first half results, as well as a return of a total of US$9 million (8 AU cents per share) in dividends to shareholders during the financial year.
The focus on the execution of our Corporate Strategy resulted in solid double digit sales growth in all regions with the exception of Asia Pacific which achieved 9% growth. Overall, worldwide sales delivered a second successive year of double digit growth. Subscription sales continue to be strong up 26% to US$32 million when compared with previous corresponding period.
Detailed financial summaries can be found on http://www.altium.com/en/altium/investor-relations/announcements.
The financial results outlined in this announcement are based on management accounts and have not been audited.
Investor Relations contact details:
Richard Leon - CFO
Ph: +86 21 6182 3900
Alison Raffin - Company Secretary
Ph:+61 2 9410 1005