Wednesday, marketing management software provider Alterian Plc (ALN.L) reported a decline in pre-tax profit for the full-year 2009. However, on an adjusted basis, pre-tax profit increased as revenues surged 73%.
Full-year profit before taxation dropped to GBP 3.61 million from GBP 4.02 million a year earlier. Adjusted pre-tax profit amounted to GBP 6.16 million, up 48% from GBP 4.16 million last year.
Adjusted pre-tax profit excludes integration costs and costs of discontinued business relating to the Pepperio division of Mediasurface as well as amortisation of acquired intangibles.
Profit attributable to equity holders was GBP 6.07 million, higher than GBP 4.52 million last year. Earnings per share rose 11% to 11.2 pence from 10.1 pence a year ago.
Profit from continuing operations was GBP 6.32 million, up from GBP 4.52 million in the prior year.
Operating costs before integration costs and discontinued business increased 82% to GBP 23.7 million from GBP 13.1 million, reflecting the costs acquired with Mediasurface Plc in July 2008 as well as investment in product development and distribution.
Full year revenues surged 73% to GBP 33.39 million from GBP 19.34 million a year ago, benefited by revenue resulting from the acquisition of Mediasurface. At constant exchange rates, revenue increased 60% from prior year.
Segment-wise, revenue in the UK, Europe and Asia Pacific climbed 123% to GBP 20.5 million from GBP 9.1 million a year before. In North America revenue was GBP 12.9 million, an increase of 26%, from GBP 10.2 million in the prior year, which was bolstered by the strong US dollar.
Going ahead, the company said that since the year-end, it continued to trade in line with its expectations and expects recurring revenue in the new financial year for the enlarged group to represent about 60% of total revenue achieved in the year to March 31, 2009.
Alterian has not declared a dividend in the fiscal year 2009.
In addition, the company announced that Acxiom Corp. (ACXM) signed a new and expanded agreement with the company in March 2009 that provides for global roll out of existing Acxiom solutions that incorporate Alterian technology, as well as the introduction of a new Alterian based solution to Acxiom clients.
ALN.L is currently trading on London stock exchange at 102.00 pence, up 2.00%.
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