Altium have reported results for the half-year ending 31 December 2008.
Following are the highlights of Altium’s half-yearly reports:
- Sales of US$27.2m, an increase of 18% compared to the same period a year ago
- Revenue of US$26.7m, an increase of 14% compared to the year-ago period
- EBITDA of US$3.7m compared to a negative EBITDA of US$0.6m a year–ago
- Net profit after tax of US$740,000, compared to a loss of US$1.9m a year-ago
- Cash balance of US$9.2m, up from US$4.2m as at 31 December, 2007
According to Nick Martin, CEO, Altium, despite some slow down in customers' purchasing decisions connected to uncertainty created by the general economic outlook over the next 6-12 months, Altium anticipate a continued positive contribution to their profitability from a weaker Australian dollar.
In light of managing costs in-line with sales growth, Altium have taken steps to restructure their organisation, which include lowering their costs in some lower performing regions and central operations, and directing that investment in the growth regions that include China, Asia and Eastern Europe.