Altium maintains growth momentum

Altium maintains growth momentum

Increases revenue 13 per cent to $US80.2 million

Credit: Dreamstime?

Electronics design software company, Altium (ASX:ALU), has maintained its growth momentum after delivering solid sales and revenue growth during 2015 fiscal year.

According to a statement on the ASX, Altium said its diversified nature in operating in multiple currencies and generating foreign earnings will continue to favour its Australian investor base.

“While foreign exchange and macroeconomic conditions weakened the company’s performance in EMEA, the strong performance of the Americas allowed Altium to deliver solid revenue of $US80.2 million – growth of 13 per cent,” Altium said.

Sales for the company also increased eight per cent to $US82 million.

During the 2015 fiscal year, Altium launched a number of new products including PCBWorks, CircuitStudio, CircuitMaker, and upgraded its flagship product, Altium Designer.

The vendor said these products would positively contribute to revenue during 2016, 2017 and beyond. It has maintained its confidence in reaching $US100 million revenue by 2017.

During 2015, the Australian software company relocated its executive management team and associated business assets to the US, to be closer to its core customer base, respond to global PCB market and set itself up for future success.

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