03 November 2009
Half Yearly Results For The Six Months Period Ending 30 September 2009
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 2009.
Highlights
- Period of good progress given difficult economic conditions
- Significant and positive milestone achieved as system sales exceed sales of DAG cards for the first time
- Encouraging progress in US financial services and in European government markets
- Investment in R & D maintained
- Continued strong cost control, although benefits diluted by translation effect of strong NZ dollar
- Revenues slightly ahead of corresponding period last year at $13.8m. Profit before tax and share option costs was in line with expectations at $0.5 million; statutory reported loss before tax of $11,000
- Customers continue to show caution over investment decisions but healthy order backlog and strong pipeline of opportunities
Endace Chief Executive, Mike Riley, commented:
"Given difficult economic conditions, Endace made good progress in the first half of the year. Revenues increased slightly over the corresponding period last year and, for the first time, sales of our NinjaBox and NinjaProbe systems exceeded sales of DAG cards. This is a significant and positive milestone in our evolution, given the size of the addressable market for our systems.
Our target markets continue to offer Endace exciting opportunities for long term growth. While customers are still showing caution over investment decisions, we enter the second half with a healthy order backlog, a strong pipeline of opportunities and continued confidence in the Group's future performance."
Ends
CONTACTS:
Endace Limited
Mike Riley, CEO +44 20 7067 0700
Neil Hopkins, Group Finance Director +44 20 7067 0700
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.