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Altium loss widens despite sales gains

Altium loss widens despite sales gains

Electronics design software developer Altium (ASX:ALU) has reported a 3% wider 1H net loss of US$2.5 million ($2.5 million) for 1H11.

The company grew sales 9% to $22 million, with revenue from EMEA increasing by a particularly high 24%. Consulting fees also increased 25%.

But sales from APAC excluding China fell 10% to US$2.1 million, and taxes and exchange rate variances impacted the bottom line.

Ebitda improved 82% to a negative $315,000, and pre-tax losses declined 33% to $3 million.

The total number of subscriptions sold increased by 125% year-on-year, and the number of subscriptions renewed grew 64%.

The company employed 284 people at the end of the half-year, an increase of 6%.

ALU shares fell 13.33% to $0.130 during Wednesday's trading.

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Tags softwarefinancial resultsAltiumASX:ALU

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