Altium released an unaudited update of financial results for the financial year ending June 30, 2014.
The electronics design software company said sales for the financial year increased 10 per cent on the same period the previous year to $US76.1 million.
The firm said revenue for the same period increased 16 per cent to $US70.7 million.
In the second half of the financial year, sales were up 10 per cent to $US45.0 million, compared with the previous corresponding period. Revenue for the same period increased 20 per cent to $US38.7 million.
Altium chief executive, Aram Mirkazemi, said it was a positive result given disruptions in the Americas region as a result of a change in the firm’s sales model from direct sales to alliances with value added resellers.
“When fully realised this transformation will support Altium’s Corporate strategy to expand the company’s reach into upper and lower market segments.”
The firm said cash balance as of June 30, 2014, was $US22 million, up from $US14.8 million the previous year.
