NetDimensions Interim Results

NetDimensions Interim Results

NetDimensions, the global provider of enterprise-class performance, knowledge and learning management related software and services, enabling organisations to manage their training programs, announces interim results for the six months ended 30 June 2011.

Financial Highlights

  • Revenue increased 31% to US$4.4m (H1'10: US$3.3m)
  • Loss of US$0.7m (H1'10: loss of US$0.3m)
    - After including US$0.2m intangible asset amortisation, US$0.2m non cash share based compensation, US$0.1m foreign exchange gain and gain on disposal of an associate.
  • Deferred revenue up 26% to US$ 2.8m (H1'10: US$ 2.3m)
  • Headcount up to 99 from 73 at the end of H1'10 (headcount at year end: 88)
  • Strong cash position of US$5.9m - equated to 14.4p in cash per share at 30 June 2011 currency rates (2010 year end:  US$6.0m) after US$0.2m share repurchase during the period

Operations Highlights

  • Added 63 new clients through direct sales or resellers including;
    - Renishaw Plc;
    - Brigham Young University;|
    - IKON AS;
    - Service Strategies; and
    - Omega Performance Corporation.
  • Added 4 major resellers including;
    - Intekras, a major US professional services company offering core solutions in information assurance, technical services and workforce development in US federal, state and local governments as well as commercial entities;
    - Training Partners, a wholly owned subsidiary of Dimension Data specialising in IT infrastructure for learning & development; and
    - Aurion Limited, a company which designs and delivers award winning e-learning tools;  and
    - Tatweer International for Human Development S.A.E., a regional workforce training solution provider in Egypt.
  • Incorporated the CFR 21 Part 11 compliance within EKP, an indispensable requirement in pharmaceutical industry
  • Released a major new versions of our flagship LMS product - EKP 7.0 and 7.1
  • Improvement of our mobile version - mEKP enabling course download and encryption

Roger Durn, Chairman of NetDimensions, commented: "NetDimensions has been trading in line with expectations and we continue to see significant growth for our business in Asia / China and other emerging markets. We believe our target markets will continue to be in highly regulated and compliance driven industries and in outwardly focused, extended enterprise deployments.

"These last six months have been a successful period with the Company recording impressive revenue growth. The Board is confident that this strong trading will continue in the second half of the year and the Company is well-positioned to grow."

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