04 September 2008
Annual General Meeting: Trading Update
Endace Limited ("Endace" or "the Company", AIM: EDA), a world leader in network monitoring solutions will be holding its Annual General Meeting later today.
Mike Riley, CEO, will present the following trading update to the meeting:
"I am pleased to report that our strategy for growth of the business remains on track. The first 5 months of this financial year have seen continued growth in sales across our main verticals and geographical segments.
Our largest vertical market year to date has been the Government sector with strong sales across a range of card products and appliance solutions. Our success in this area was a principal motivation behind the recent announcement of the expansion of our Federal Solutions Group in the US. We have won a number of major deals in the Telco market, as well as in the Financial market.
Our ongoing investment in our human resource has seen our headcount increase to 105 staff, from 94 at 31 March 2008. As we highlighted at the time of our full year results in May, our emphasis this year has been on building our customer service infrastructure and quality assurance teams. We are also actively recruiting for our engineering teams in New Zealand, whilst in the Asia Pacific region we are looking to strengthen the regional sales force.
Over the past 5 months we have added a number of enhancements to our portfolio that have significantly strengthened the capabilities and versatility of our products. These include the introduction of IEEE1588 (known also as Precision Time Protocol, PTP) an industry-standard protocol that provides additional, highly accurate time-stamping and synchronization capabilities for our latency measurement and network monitoring solutions.
We have also added additional features to our family of NinjaProbes, including the addition of Snort® IDS Applied Watch Command Centre Agent and data mining features which further enhance the probes' passive capture capabilities. Last week we announced further functionality to our NinjaProbes that now allow the platform to capture, store and replay network traffic at speeds approaching 10Gb/s.
The Company has made a positive start to the current financial year and, notwithstanding the difficult economic environment affecting many of our customers, we are experiencing good demand for our products and solutions. We remain confident of achieving solid progress for the year with, as in previous years, annual revenues weighted towards the second half."
Announcement of interim results
The interim results for the six months ended 30 September 2008 are expected to be announced in early November 2008 in accordance with the usual timetable.
Ends
CONTACTS:
Endace Limited
John Scott, Deputy Chairman (UK) +44 (0)7786-543462
Selwyn Pellett, Chairman (NZ) +64 9-262-7260
Mike Riley, CEO +64 9-262-7260
Neil Hopkins, Group Finance Director (NZ) +64 9-262-7260
Bankside
Steve Liebmann or Simon Bloomfield +44 (0)20-7367-8888 / +44 (0)7802-888159
Panmure Gordon
Edward Farmer +44(0) 20-7459-3600
About Endace
For organisations that rely on their IP networks to do business, Endace provides traffic monitoring, latency measurement, network security and application acceleration solutions that capture, inspect and report on every single data packet. We enable our customers to be confident in their service performance, information security, and regulatory compliance. Based in Auckland, New Zealand, Endace also has offices in the UK, USA and Singapore. Quoted on AIM, the stock code is LSE: EDA.
For further information: http://www.endace.com.