01 November 2011
Half Yearly Results for The Six Month Period Ending 30 September 2011
Endace Limited (LSE/AIM: EDA, “Endace” or “the Company”), a world leader in network monitoring solutions, announces interim results for the half year ended 30 September 2011.
Highlights
- Period of excellent progress for Endace
- Sales increased 37% year on year to US$18.6 million
- Gross margins improved to 72.6% (FY11: 66.1%)
- Pre-tax profit of US$0.2 million, after adjusting for share options
- Cash at FY12 period end was US$2.6 million (FY11: US$1.3 million)
- Systems sales grew 79% to be 42% of total revenues (FY11: 32.2% of revenues); annuity income grew 84% to represent 17% of total revenues (FY11: 12.8% of revenues)
- Continued emphasis on investment in R&D driving our systems up the value chain towards complete solution offering
- Investment in building out sales and marketing team, including appointment of Spencer Greene, new SVP Product Management and Marketing
- Customer need for network visibility and instrumentation becoming critical
- Sales pipeline very strong
Endace Chief Executive, Mike Riley, commented:
“We are delighted with our performance overall in the first half of the year.
“Growth in our systems sales and associated annuity income demonstrates that our strategy to climb the value chain is being successful. Our products and solutions are being well received in all our target markets and, as top-tier customers look beyond 10Gbps towards 40Gbps and 100 Gigabit-per-second network monitoring and instrumentation challenges, we are well positioned to address this growing market.
“While mindful of uncertain macro economic conditions, we have not seen any change to expected order patterns and we enter the second half with a strong pipeline. We remain confident of meeting expectations for the full year and in the Group’s longer term prospects.”
Supplementary information:
In support of the half year results announcement two company presentations have been made available. These presentations were delivered to London city analysts during the first week of November 2011.
Investor Roadshow Presentation November 1st - 4th 2011 (.pdf) Analyst Teach-In November 4th 2011 (.pdf)Ends
CONTACTS:
Endace Limited
Mike Riley, CEO, +44 20 7067 0700
Kate Parsons, CFO, +44 20 7067 0700
Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat, +44 20 7067 0700
Panmure Gordon
Hugh Morgan, +44 20 7459 3600
About Endace
Endace provides network monitoring and recording systems that form the basis for mission-critical network security, monitoring and measurement solutions. Endace network monitoring systems are designed to be deployed from the edge to the core of the network, creating a complete monitoring and recording fabric on top of which a range of custom, open-source or commercial application performance monitoring tools can be deployed.
One hundred per cent packet capture is now widely accepted as a non-negotiable input to applications that are being used to help organisations manage risk, reputation and compliance. Based on proprietary DAG® I/O technology, Endace’s network monitoring systems and network packet sniffer
tools have a global reputation for consistently monitoring and recording 100 per cent of network traffic on any network interface and at any speed from 10Mbps to 100Gbps.
Based in Auckland, New Zealand, Endace also has offices in the U.K. and the United States. Quoted on London's AIM, the stock code is LSE: EDA.L