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Altium announces Q1 results

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article image Frank Hoschar is the new Managing Director, Sales Europe, Altium.

ALTIUM Limited has announced its results for Quarter One (Q1) 2005/2006. Altium delivered a 1.1% improvement in local currency product sales by comparison to the same quarter in the previous financial year.

On a regional basis (in local currencies), the US reported strong overall increased product sales growth of 9% by comparison to the same quarter of the preceeding year.

Altium’s slow start in the first two months of the financial year strongly turned around in the month of September with sales in local currencies for US, Europe, SE Asia and Australia growing by 33%, 24%, 8%, 169% respectively by comparison to September 2004.

Total operating revenue of the company for the full quarter was A$7.5m by comparison to A$8.2m for the preceeding year.

In Q1 Altium focused on restructuring the global sales teams as part of the company’s goal to create a worldclass sales and marketing team with the shift of its focus towards translating the investment it delivered in technology and R&D efforts over the last years, into solid financial returns.

As a result of this focus, Altium has announced the new appointment of Mike Stipe to Altium as Vice President, Sales Americas and the appointment of Frank Hoschar to Managing Director, Sales Europe.

Altium has also created a greater Asia Pacific Sales Region, which now incorporates Japan, China, Asia Pacific VARs and Australian Sales.

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