NetDimensions a global provider of performance, knowledge and learning management systems provides the following trading update at its financial year-end.
The Company reports that:
•2012 GAAP revenue was up 10%, at approximately US$13.5m for the year (2011: US$12.3m), a figure broadly in line with market expectations,
•Invoiced sales were up 15% at US$15.3m (2011: US$13.3m),
•Deferred revenue was up 38% at US$6.2m (2011: US$4.5m),
•Following substantial investment in global sales expansion and research and development operations, the Company anticipates adjusted PBT of at least US$0.1m although it is likely they will report a loss on a fully disclosed IFRS basis,
•NetDimensions ended the year with approximately $6.8m in cash, no debt and short-term receivables of US$5.1m (2011: US$4.2m).
Chairman Roger Durn commented:"2012 was a year of operational progress, growth and building for 2013 and beyond. We signed 71 new clients and grew revenues by some 10 percent. We also took the strategic decision to accelerate increases in sales capacity as part of the Board's long-term focus on growth. In addition to our longstanding organic growth strategy we will continue to evaluate and actively pursue revenue-accretive acquisition opportunities in complementary areas."
CEO Jay Shaw added: "2012 was a year of success and investment for the future. We start this year with some US$6m in deferred revenue to be recognised in 2013, our best ever opening position. Management expect 2013 to provide new opportunities in terms of deeper sector targeting and geographic expansion. We will continue to drive revenue growth and capitalise on new sales opportunities to increase the Company's market share, especially in highly regulated industries. We are also delighted to announce that we have recently been approved as an independent software vendor partner by IBM and will be exhibiting at the IBM Connect conference later this month."
NetDimensions will announce full year results in April 2013.
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