Integrated Research forecasts FY11 profit growth

Integrated Research forecasts FY11 profit growth

Performance monitoring software developer Integrated Research (ASX:IRI) is forecasting an up to 38% increase in net profit for FY11 on the back of increased new license sales.

Preliminary accounting shows an expected profit in the range of $7.1 million to $7.5 million, Integrated Research said.

IRI shares climbed 22.81% in Thursday's trading to $0.350 following the announcement.

The company attributed the expected result to strong performance across its IP Telephony and HP-Nonstop product lines.

The $5.4 million profit Integrated Research reported in FY10 was down 31% from the prior year. Revenue declined a more modest 13% to $37.3 million.

Profit for 1H11 similarly shrank 12% year on year to $2.4 million, though revenue grew 11% to $20.5 million.

Integrated Research designs monitoring, diagnostics and reporting software. Its flagship products include Prognosis - a VoIP, IT infrastructure, ATM and POS monitoring suite - and spinoff product PowerMinder, the PC power management tool which launched in December.

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