OBJECTIVE CORPORATION LIMITED — Earnings Release 2009

Aug 23, 2009

ASX Announcement

Date: 24 August 2009

Objective Corporation Final Results FY2009

Record Revenue $40.3m up 20%; NPAT $4.4m up 114%

Leading Enterprise Content Management (ECM) company, Objective Corporation Limited (ASX: OCL) today announced record revenue of $40.3 million, a 20% increase over the previous year (FY08: $33.5 million) and a net profit after tax of $4.4 million for the year, a 120% increase on the previous corresponding year (FY08: $2.0 million).

European revenue grew 50% to $9.4 million (FY08: $6.2 million). Asia Pacific revenue was $30.1 million, representing an increase of 15% over the previous corresponding period.

At 30 June 2009, the company had $8.7 million in cash and cash equivalents, net of borrowings.

Directors are confident of the company’s growth and have declared an unfranked final dividend of 2.1 cents per share.

Financial Summary

Results summary Year ended 30 June	FY2009 $m	FY2008 $m	Change (%)
Revenue Net profit after tax Asia Pacific revenue European revenue R&D (fully expensed) Earningsper share	40.3 4.4 30.1 9.4 9.6 3.3 cps	33.5 2.0 26.1 6.2 8.8 1.5 cps	�20% �114% �15% �50% �9% �120%
Final dividend(unfranked)	2.1 cents	2.5 cents

Mr Tony Walls, CEO, Objective Corporation, said: “We are pleased to report record revenue and a profit improvement. Asia Pacific operations performed strongly once again and our European operations have returned to profitability despite a difficult market.

“ During the year, we expanded our public sector market share and capability with the successful acquisition of Limehouse Software Limited. This was in line with our long-term strategy of combining organic growth with strategic acquisitions to extend our geographic and vertical market leadership.”

Objective Corporation

Objective Corporation (ASX:OCL) develops, markets, tailors and supports its own Enterprise Content Management (ECM) software solutions. Working with large, information intensive organisations including government departments and top 1000 corporations, Objective Corporation has established itself as one of the leaders in the ECM market, where its solutions have been consistent winners against international competition. Its solutions are open and integrate with existing applications and infrastructure, delivering clear outcomes and a measurable return on the client’s investment.

www.objective.com

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Limehouse is a market leader in collaborative content creation, publishing and stakeholder consultation solutions for local government in the United Kingdom and has an emerging presence in North America.

The Limehouse Software acquisition was earnings per share positive and contributed 4%, $1.5 million (£0.7 million), to revenue growth during the first 12 weeks of ownership.

Operations

Asia Pacific

“Objective’s dedication to service excellence continues to expand its public sector market share across Australasia,” said Mr Walls.

Asia Pacific delivered another year of solid revenue growth to $30.1 million, an increase of 15% on the previous year.

Key contracts signed during the year include Morton Bay Regional Council, Stockland, WA Parliament, Western Bay of Plenty Regional Council, Environment Bay of Plenty Regional Council and the Commonwealth Ombudsman.

The Australian Defence Organisation remains a significant Objective customer extending its long-term Objective support contract for up to six years. This contract demonstrates the proven scalable strength of the Objective solution and our ability to partner with the largest Government agencies.

Europe

“We are pleased to report continued revenue and return to profitability in our European operations,” said Mr Walls.

Revenue increased 50%, a direct result of Objective’s long-term strategy and significant regional investment.

A highlight for the region was the contract with the Welsh Assembly Government, to the value of approximately $10 million over a five year period to deliver an enterprise-wide solution that will position them at the forefront of public sector best practice information management. This was a strong endorsement of Objective’s solutions for largescale, flexible implementations that span multiple government portfolios.

The acquisition of Limehouse Software increased our market share and capability in the UK public sector, with the addition of over 200 customers in the United Kingdom local government sector.

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Mr Walls said, “The Limehouse solution extends our offering from process management and record keeping through to built for purpose applications that meet very specific needs of our target markets. Limehouse also has a proven and profitable software-as-a-service model, completely hosted in the cloud. This is the first of many solutions Objective will deliver via this model.”

“Through combining Objective’s and Limehouse’s expertise, we are able to enhance the products and services we provide to both existing and prospective customers.”

Research and Development

Objective continued to invest in its technology. Fully expensed research and development was $9.6 million, approximately 24% of revenue.

Objective’s research and development portfolio made excellent progress during the year. This includes the launch of Objective Committees, a complete solution for committee management, designed specifically for government.

Significant enhancements to the company’s flagship product offering was released in Objective 7.3, and showcased at Objective’s first international customer conference ‘Collaborate’. This event was attended by over 150 delegates from England, Wales, Scotland, Australia and New Zealand.

Capital Management

The successful share buy-back program has reduced the number of shares on issue by approximately 11%. As at 30 June 2009, Objective had bought back 9,979,723 shares for $2.1 million with a further 5,000,000 shares bought back subsequent to 30 June 2009 for $1 million. There are no further share buy-backs currently planned.

Outlook

Mr Walls said, “The outlook for FY2010 is positive, with continued solid growth expected.

“Our strategy of focusing on all levels of public sector to drive business growth, has contributed to the company’s resilience during the economic downturn.

“There is healthy demand for our software and services. As a result of our positive momentum, strong customer base and understanding of our customers’ needs we are well placed to increase our share of our target markets, capitalising on the competitiveness of our solutions and high levels of service to our customers.

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“We expect solid performance in Asia Pacific and anticipate continuing revenue growth in our European operations,” said Mr Walls.

The company continues to consider strategic acquisition opportunities that will add to our existing capabilities and provide opportunities for stakeholders.

The board and management of Objective Corporation, would again like to thank the company’s customers, staff and shareholders, for their commitment and valuable contribution to the ongoing success of the company.

-ends-

Contact Information

Objective Corporation Limited

Ph: +61 2 9955 2288 Fax: +61 2 9955 5011 Email: investor.relations@objective.com

www.objective.com

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