02 November 2010
Half Yearly Results for The Six Months Period Ending 30 September 2010
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 2010.
Highlights
- Period of continuing and accelerating progress
- Cyber security is of growing importance on government agendas
- Good progress in financial services analytics market
- Recent independent NSS Labs test confirmed technology lead to the market
- Sales maintained at US$13.6 million
- Gross margins improved to 66%; pre-tax loss of US$1.5 million reflects the expansion of sales and service capabilities in US and EMEA to drive revenues
- Markets are expected to show good growth
- Excellent sales pipeline
- Cash at 30.09.2010 was US$1.3 million (30.09.2009: overdraft of US$0.9 million)
Endace Chief Executive, Mike Riley, commented:
“We are pleased with our performance overall in the first half of the year, a period of continued and accelerating progress in pursuit of our strategic and operational objectives.
“The market outlook for Endace is positive, with the high frequency trading environment and the government Cyber Security monitoring market both expected to see significant growth and investment in the next period. Recent public discussion surrounding increased UK government spending on Cyber Security highlights the potential growth of this market worldwide, while the May 6th “flash crash” in the US stock market has highlighted the need for accurate packet capture and time stamping in the Financial Services market.
“While customers continue to show caution over investment decisions, we enter the second half with an excellent pipeline of opportunities. We remain confident of meeting expectations for the full year and in the Group’s future prospects.”
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 organizations 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 and USA. 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.