Altium records $US17.4m Q2 revenue

Altium records $US17.4m Q2 revenue

Sales grow 14 per cent to $US19.4m

According to its unaudited preliminary financial performance, Altium recorded worldwide revenue of $US17.4 million in its second financial quarter of 2014, ending December 31, marking a 10 per cent increase compared to the previous corresponding period.

The Australian electronic design software developer reported it achieved a total $US19.4 million in sales, an increase of 14 per cent. The company’s sales in Asia-Pacific (APAC; excluding greater China) dipped slightly from its December 31, 2012, total of $US1.6m, to $US1.3m.

Greater China alone saw sales increase by 30 per cent to $US2.6m, with Europe, the Middle East and Africa achieving $US6.8m in sales for a 31 per cent hike.

The figures bring Altium’s global half-year revenue and sales to $US32m and $US31.1m, respectively.

“Altium achieved double digit sales growth for the second quarter as well as for the first half of the financial year ending June 30, 2014,” Altium chief financial officer (CFO), Richard Leon, said. “This was achieved despite the restructure to our sales organisation in the Americas, as reported in our Q1 announcement, which continues to be implemented.”

Leon claims the company expects to report growth in underlying profit and statutory profit in its reviewed half-year financial statements based on the sales and revenue results.

The company also said its cash balance of $14.

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