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INTEGRATED RESEARCH LIMITED — Earnings Release 2008
Aug 14, 2008
65142_rns_2008-08-14_f007f98b-c67f-4ef7-b8c7-0ae7fe53c2c0.pdf
Earnings Release
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Integrated Research Limited
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ABN: 76 003 588 449
Market Release
Integrated Research Limited Announces Results for 2008 Financial Year
Sydney, Australia, 15 August 2008 - Integrated Research (ASX:IRI), leading developer and provider of systems and application management solutions for high availability computing environments, today released the following results for the financial year ended 30 June 2008.
The Company is pleased to report a 6% increase in net profit after tax over the previous financial year to $5.8 million. Total revenue for the Company increased 3% over the prior year to $37.4 million.
The Company achieved the financial guidance previously provided to the market with both current year revenue and profits surpassing the prior year despite tough market conditions created by the global liquidity crisis.
Growth in revenue and profit would have been substantially stronger except for the relative strength of the Australian dollar against both the US dollar and UK Sterling. Underlying revenue growth would have been approximately $3.9 million higher and NPAT increased by $1.8 million after taking into account the impact of currency exchange rates over the prior year.
The financial highlights are as follows:
| The financial highlights are as follows: | |||
|---|---|---|---|
| % | |||
| In thousands of AUD | 2008 | 2007 | Inc/(Dec) |
| Revenue from license fees | 19,623 | 19,517 | 1% |
| Revenue from maintenance fees | 16,344 | 15,856 | 3% |
| Revenue from other operating activities | 1,417 | 1,004 | 41% |
| Total revenue | 37,384 | 36,377 | 3% |
| Net profit before income tax | 7,670 | 7,453 | 3% |
| Net profit after income tax | 5,776 | 5,433 | 6% |
The Company continued its strong commitment to research and development by increasing its expenditure by 37% to $8.7 million over the equivalent prior year. New products were released during the year and further innovative developments are in the pipeline to respond to customer needs and market demands. These innovations will fuel additional revenue growth.
Steve Killelea, Chairman of Integrated Research said: “Although the Company has experienced adverse external economic conditions and currency changes the underlying business and strategic direction of the company remain robust. The strong balance sheet leaves the company well positioned for the future.”
Mark Brayan, Chief Executive Officer of Integrated Research added: “We are pleased with the results in the current environment. We will continue to make the changes necessary to increase the efficiency of the business and improve the execution of our strategy.”
Directors have declared a final dividend of 1.5 cent per share, unfranked, payable on 12 September 2008, bringing the total unfranked dividend for the year to 3.0 cents per share, unchanged from the prior year.
PROGNOSIS is a registered trademark of Integrated Research Limited. All other brand and product names are trademarks or registered trademarks of their respective companies.
Press Contact: Mark Brayan CEO Integrated Research +612 9966 1066 [email protected]