Diligent Board Member Services is considering expanding its sales force after reporting a “record-breaking” fourth quarter and reaching agreement for additional funding.Sales in the three months to December rose to $US1.54 million from $US865,
Diligent Board Member Services is considering expanding its sales force after reporting a “record-breaking” fourth quarter and reaching agreement for additional funding.
Sales in the three months to December rose to $US1.54 million from $US865,000 in the same quarter 2008. Year to date sales climbed to $US5 million from $2.95 million a year ago.
Added annualised licence fees hit $US749,000 during the quarter, up from $US656,000 in the previous three month period, and $US567,000 in the fourth quarter 2008.
Cumulative annualised licence fees were up to $US6.32 million in the latest quarter, from $US5.56 million in the third quarter and $US3.85 million in the fourth quarter of last year.
NZX-listed Diligent [DIL:NZX], which develops software to help corporates access safe and secure information via the internet, said it now had 284 worldwide clients and more than 7300 users of its Boardbooks products.
“This growth has been achieved even though the number of trained sales staff has remained relatively consistent throughout 2009 and significantly down from sales staffing levels of 2008,” the company said.
The company also noted it has reached an agreement in principle for a $US1 million line of credit from 10% shareholder Spring Street Partners, a New York-based fundraiser.
Diligent said this extra credit line would give the company the opportunity to implement new strategic directions – including possibly adding new sales staff and initiating new marketing efforts.
“As confidence appears to be returning to US companies and the Diligent sales pipeline continues to grow, the company is considering expanding its sales force to take advantage of real growth opportunities.”
Diligent shares closed at 30c yesterday, still well down from the $1 at which the shares were floated in late-2007.
