New York-based software company Diligent Board Member Services is reporting a 78 per cent lift in fourth-quarter net sales revenue to US$1.54 million ($2.08 million).
The company said yesterday that factors behind its sales growth included greater brand recognition of its Diligent Boardbooks product - a system of compiling, viewing, monitoring and archiving board materials.
The record result for the quarter to the end of December, enabled the company to lift sales revenue to US$5 million for 2009, a year-to-year increase of 69 per cent, Diligent said. Annualised licence fees rose by a record US$750,000 in the fourth quarter, up 32 per cent from a year earlier, and up from the previous record US$660,000 rise in the third quarter.
"To have back-to-back record-breaking quarters in the current worldwide economic environment demonstrates the strength and appeal to our potential clients of the Diligent Boardbooks offering," the company said.
At the end of the latest quarter total annualised licence fees were up 64 per cent from a year earlier to US$6.32 million.
During the fourth quarter 41 new licences were added, a new high, and up from 30 in the fourth quarter of 2008.
Diligent also said it had reached an agreement in principle for a US$1 million line of credit, giving the company an opportunity to implement new strategic directions, including new marketing efforts. Diligent shares closed at 30c yesterday, having ranged between 45c and 7c in the past year, after listing at the issue price of $1 in December 2007.
- NZPA
Diligent reports record fourth quarter
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