NetDimensions (Holdings) Limited – Preliminary Results

NetDimensions (Holdings) Limited – Preliminary Results

Preliminary Results for the year ended 31 December 2009

NetDimensions (NETD), a provider of performance, knowledge and learning management systems, announces its Preliminary Results for the year ended 31 December 2009 which mark a return to pre-tax profitability.

Financial Highlights

  • Revenues up 8% to US$6.84 million (2008: US$6.35 million)
  • Operating profit of US$0.69 million (2008: US$0.09 million)
  • Pre-tax profit of US$0.7 million (2008: loss before taxation US$0.59 million)
  • Cash balances of US$7.44 million – equates to c.18.6p per share (2008: US$5.34 million)
  • Revenue from new clients contributing 23% of the total revenue
  • Operating expenses reduced by US$0.24 million

Operational Highlights

  • Launch of versions 5.6 and 5.7 of the Company’s flagship Enterprise Knowledge Platform (EKP)
  • Implemented infrastructure and process improvements to support future growth
  • Continued expansion in the Philippines
  • 70 new clients added

Roger Durn, Chairman of NetDimensions, commented:
“I am pleased to report strong growth in revenue over the past financial year, despite the challenging global economic environment, resulting in a return to pre-tax profitability. To position ourselves for the future, we also expanded our lower cost support and development operations in the Philippines by doubling the country headcount in 2009. In addition, we have maintained a healthy cash level and remain in a good position to grow.

“We believe that recent economic indicators look positive and the Company’s 2010 first quarter trading results were in line with management expectations.”

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