02 September 2009
Annual General Meeting: Trading Update
Endace Limited (LSE/AIM: EDA, "Endace" or "the Company"), a world leader in network monitoring solutions, will be holding its Annual General Meeting later today.
John Scott, Deputy Chairman and Senior Independent Director, will present the following trading update to the meeting:
"Our customers continue to show caution over investment decisions; as a result, the visibility of the order pipeline remains challenging across all sectors. The telecommunications sector continues to be steady, as are our government markets, with encouraging sales to date in certain European markets. In financial services, after the dramatic slowdown in the second half of last year, we are seeing the early signs of activity around projects deferred last year and an improving pipeline, predominantly in North America; a number of these projects are expected to convert into sales in the second half of our financial year.
At the beginning of the financial year we reduced our expenditure through staff restructuring and relocation of marketing functions to New Zealand. We are maintaining an aggressive focus on cost control, especially since expenditure has come under pressure from the effects of a stronger New Zealand dollar.
Our strategy remains unchanged. We continue to carefully build our channels to market through partnerships and collaborative agreements and have added further functionality to our products. We have been successful in attracting new clients while developing our existing customer relationships, but in view of the continuing uncertainty in the economic climate our outlook for the rest of the year remains cautious."
Ends
CONTACTS:
Endace Limited
John Scott, Deputy Chairman (UK) +44 7786 543462
Dr Ian Graham, Chairman (NZ) +64 9 582 0360
Mike Riley, CEO +64 9 582 0360
Neil Hopkins, Group Finance Director +64 9 582 0360
Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat +44 20 7067 0700
Panmure Gordon
Edward Farmer +44 20 7459 3600
About Endace
For organisations that rely on their IP networks to do business, Endace provides high performance traffic analysis, latency measurement, network security and application acceleration solutions that capture, inspect and report on every single data packet. Our product portfolio includes high-speed packet capture technology, open development environments, multi-function network monitoring appliances and a comprehensive range of powerful yet intuitive management, measurement, alerting and analysis applications. We enable our customers to be confident in their service performance, traffic monitoring, 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.
Endace, the Endace logo, DAG and NinjaProbe are trademarks or registered trademarks in New Zealand or other countries of Endace Technology Limited. All other trademarks may be the property of their respective holders.