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Software developer, Autonomy Corporation is trading strongly and has just posted the highest third quarter revenues and profits in its history.
Revenues for the third quarter were 51% higher at $191.6m on the back of strong organic growth and the integration of Interwoven.
Adjusted net profits after the exclusion of amortisation charges were $48.6m compared with $37.5m for the corresponding period last year.
IFRS net profits before tax were $48.6m up from $47.8m in the third quarter of 2008.
Cash balances were $200.7m at September 30, 2009, an increase of $35.0m from $165.7m at September 30, 2008, and an increase of $1.5m from $199.2m at December 31, 2008 (prior to the Interwoven acquisition).
Dr. Mike Lynch, Group CEO of Autonomy comments: " We delivered strong growth despite the usual seasonality and challenging comparatives against the strong performance in Q3 2008.
"These results give us confidence in maintaining our view of the full year. Autonomy was very busy in the quarter preparing for 2010.
"We were pleased to note that the cash generation of the business since the beginning of the year has been so strong that our cash balance already covers the remaining part of the debt we took out just six months ago to fund the Interwoven acquisition.
'We feel that should an upturn start to materialise we are extremely well positioned to accelerate our growth."
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