LONDON (Alliance News) - Sophos Group PLC on Tuesday reported a rise in billings in the third quarter of its financial year as revenue also rose.
The security software and hardware developer said like-for-like billings in the three months to December 31 grew 17% year-on-year to USD141.3 million from USD127.7 million. On a reported basis, the increase was 11%.
It said it achieved growth across all major regions and product categories, but that reported billings were hit by significant currency headwinds including the weakening of the euro and sterling against the US dollar.
Reported revenue, meanwhile, was up 4.7% to USD121.4 million from USD115.9 million, rising 12% in constant currencies, as reported cash earnings before interest, tax, depreciation and amortisation grew 5.5% to USD34.8 million from USD33.0 million, rising 16% at constant currencies.
"At the time of our first-half results announcement, we upgraded our outlook for financial 2016 like-for-like billings growth to be in the range of high teens to 20%. After an encouraging third quarter, with continued strong demand for our products across all regions and major product groups, we are now pleased to reaffirm this guidance. We remain confident that full-year cash Ebitda margins will be slightly in excess of the 21.3% achieved in the prior period," Sophos said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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