Altium reports robust revenue gains

Altium reports robust revenue gains

Half year update reveals 17 per cent revenue increase


Electronics design software company Altium has recorded reported solid revenue gains in its half year update.

The ASX listed company has reported second quarter revenue of US$20.3 million, an increase of 17 per cent compared to the previous corresponding period.

It has also reported sales of US$20.5 million, an increase of six per cent compared to the previous corresponding period.

Altium chief financial officer, Richard Leon, said the company's worldwide sales growth for the second quarter and the half-year ending December 31, 2014 was in line with expectations and supported by a welcome turnaround in performance.

"Challenging economic conditions in Europe and the weakening of the Euro against the US dollar have created some headwind for Altium to contend with for the remainder of FY15," he said.

"Notwithstanding this, Altium delivered strong revenue growth in the second quarter and for the half year of 17 per cent in both instances."

"We continue to remain confident that our full year performance will be consistent with our expectations."

Cash flow generated from operating activities during the first half of the year was up 17 per cent from the previous corresponding period, while total cash balance as at December 31, 2014, was US$59.1 million.

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Tags ASXAltiumRichard LeonAltium chief financial officer

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