Revenue at Norkom rises 3%

Revenue at software firm Norkom Technologies rose 3 per cent to €49.3 million in the year ended March 31st 2010, as the company expanded into new territories and added to its client base.

Earnings before interest, tax, depreciation and amortisation rose 12 per cent in the year compared with the previous 12-month period to €9.2 million.

Chief executive Paul Kerley said it was a year of "solid performance".

"While continuing to deliver growth with profits, careful management of costs and focused investments gave us the opportunity to enter new geographies, release new products and create additional infrastructure, all of which position the group well to take advantage of any upswing in demand in the coming periods," he said.

"We have ended the period as a stronger company in terms of the quality of our market position, expansion of our product lines and the financial strength of our earnings and balance sheet."

Adjusted diluted earnings per share rose 22 per cent to 9.42 cents, compared to 7.74 cents in the previous year.

The company comtinues to expand in the Middle East, winning five new clients this year, compared to the one in the previous year. Revenue in the Asia Pacific region rose 14 per cent to €9 million.