Diligent Board Member Services has reported an operating profit for the three months to September 30, confirming earlier reports that it was heading towards being profitable on an operational basis for the first time since the company was established in 2007.
The software services company’s third quarter results saw a quarterly operating income of over $US300,000, it said, its first positive quarterly operating profit.
The NZX-listed company, which operates out of the US, develops software to help corporates access safe and secure information via the internet, most notably its Diligent Boardbooks software.
Through this platform directors can securely manage board books and materials from any computer, and thanks to its iPad version, from any Apple iPad.
Diligent said it produced record-breaking results across a variety of performance metrics, surpassing expectations of break-even operating performance.
The company said this highlighted the financial leverage of its Software-as-a-Service business model.
“Notably, we expect the company to achieve operational profitability for the 2011 Fiscal Year as sales momentum continues apace and the company scales its business.”
Cash generated from operating activities increased by over $US1 million, it said.
The company previously reported net sales revenue of $US4.8 million for the third quarter, up 120% on the same quarter in 2010, and another $1.1 million up on the second quarter this year.
The shares gained 3c to $1.98in NZX trading today.
Story Diligent wary of takeover threat has been updated.
Software company Diligent Board Member Services is in danger of being a victim of its own success, chief executive Alex Sodi says.
And that could lead to takeover activity just as the company is (© Copyright Protected - The National Business Review 75)hitting its straps and showing good returns for local investors.
Diligent today reported net sales revenue of $US4.8 million ($NZ6.2 million), more than double the $US2.1 million in the same three (© Copyright Protected - The National Business Review 36)month period last year. Annualised license fees climbed 479% to $US5 million, taking cumulative bookings at the end of the third quarter to $US19.7 million.
With its Apple iPad application driving (© Copyright Protected - The National Business Review 54)demand for its corporate governance tool, the company says it sees momentum continuing.
The result means Diligent will be profitable on an operational basis for the first time since the company was (© Copyright Protected - The National Business Review 44)established in 2007.
The shares gained 5c to $1.42 in NZX trading today.
Story Diligent wary of takeover threat has been updated.
Software company Diligent Board Member Services is in danger of being a victim of its own success, chief executive Alex Sodi says.
And that could lead to takeover activity just as the company is (© Copyright Protected - The National Business Review 75)hitting its straps and showing good returns for local investors.
Diligent today reported net sales revenue of $US4.8 million ($NZ6.2 million), more than double the $US2.1 million in the same three (© Copyright Protected - The National Business Review 36)month period last year. Annualised license fees climbed 479% to $US5 million, taking cumulative bookings at the end of the third quarter to $US19.7 million.
With its Apple iPad application driving (© Copyright Protected - The National Business Review 54)demand for its corporate governance tool, the company says it sees momentum continuing.
The result means Diligent will be profitable on an operational basis for the first time since the company was (© Copyright Protected - The National Business Review 44)established in 2007.
The shares gained 5c to $1.42 in NZX trading today.
Alex Walls
Tue, 08 Nov 2011
