09 October 2008
Half Year To 30 September 2008: Period End Trading Update
Endace Limited ("Endace") (AIM: EDA, "the Company"), a world leader in network monitoring solutions, provides an update on performance for the half year ended 30 September 2008.
TRADING UPDATE
The Company is pleased to report excellent progress for the first half of the year. Revenues are expected to increase by 61% year on year to approximately US $13.5 million (H1, 2007: US$ 8.4 million). Profit before tax is expected to be approximately $1.8 million, an increase of 73% (H1, 2007 $1.04 million).
The Company continues to perform well across all target geographic markets in EMEA, North America and Asia Pacific and across its three vertical industry markets: government, telecommunications operators and financial services institutions.
During its first half year of fiscal 2009, the Company has been able to report success in winning new contracts, continued product development and agreements with third parties to extend the reach of its products. Most recently these have included an agreement with Mellanox® Technologies to co-market a passive monitoring solution for InfiniBandTM clusters as well as a software licensing agreement with CACE Technologies to enhance Endace's NinjaProbe with traffic analysis and visualisation capabilities.
Endace's Chief Executive Officer, Mike Riley, commented:
"Our progress in the first half reflects the success of our investment programme aimed at creating a Company capable of sustained high growth. Notwithstanding the current economic environment, we believe our products have become essential infrastructure to operators of mission critical networks. We believe we are well positioned to maintain this positive momentum with, as in previous years, annual revenues and profits weighted towards the second half. We remain confident of meeting expectations for the full year."
Announcement of half yearly results
The half yearly results for the six months ended 30 September 2008 will be announced on Tuesday 4 November 2008. An analyst briefing will take place on the morning of that date at Weber Shandwick Financial, Fox Court, 14 Gray's Inn Road, London, WC1X 8WS.
Ends
CONTACTS:
Endace Limited
John Scott, Deputy Chairman (UK) +44 (0)7786-543462
Selwyn Pellett, 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
Ian Bailey / Nick Oborne / Stephanie Badjonat +44 (0)20-067-0700
Panmure Gordon
Edward Farmer +44(0) 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. For further information: http://www.endace.com
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.