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10 Jan 2013 07:00
NetDimensions (Holdings) Limited
("NetDimensions" or the "Company")
Trading Update
NetDimensions (AIM: NETD; OTCQX: NETDY) 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$13.5 million for the year (2011: US$12.3 million), a figure broadly in line with market expectations,
·; Invoiced sales were up 15% at US$15.3 million (2011: US$13.3 million),
·; Deferred revenue was up 38% at US$6.2 million (2011: US$4.5 million),
·; Following substantial investment in global sales expansion and research and development operations, we anticipate adjusted PBT of at least US$0.1 million* although we will likely 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$5.1 million (2011: US$4.2 million).
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$6 million 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.
*Adjusted PBT has been calculated after adjusting for certain non-recurring items and the following non-cash items: amortisation of goodwill, employee share option plan accruals, depreciation and investment write-downs.
Enquiries:
NetDimensions (Holdings) Limited | Tel: +852 2122 4500 |
Jay Shaw | |
Matthew Chaloner | |
Panmure Gordon (UK) Limited (Nomad & Broker) | Tel: +44 20 7886 2500 |
Fred Walsh | |
Charles Leigh-Pemberton | |
Victoria Boxall | |
Walbrook PR Ltd (Financial Public Relations) | Tel: +44 20 7933 8792 |
Bob Huxford | bob@walbrookpr.com |
Helen Westaway | helen@walbrookpr.com |
About NetDimensions:
Established in 1999, NetDimensions (London Stock Exchange, AIM: NETD) is a global provider of performance, knowledge and learning management systems.
The NetDimensions Talent Suite enables companies, government agencies and other organisations to personalise learning, share knowledge, enhance performance, foster collaboration, and manage compliance programs for employees, customers, partners and suppliers.
Recognized as one of the talent management industry's top-rated technology suppliers in overall customer satisfaction, NetDimensions has been chosen by multinational organizations worldwide including ING, Cathay Pacific, Chicago Police Department, Delphi Automotive, Progress Software, and Travelex.
For more information visit: www.NetDimensions.com
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