Feeds

Profits soar at SkillSoft

Revenue up 28%

Intelligent flash storage arrays

E-learning firm SkillSoft saw its profits nearly treble in its latest set of results, which were released on Friday.

SkillSoft had net profits of $12.4m, or $0.11 per share, for the second quarter, up from $4.8m, or $0.05 per share, for the same period last year. The New Hampshire based firm's revenue for the three-month period ended 31 July was $71.5m, up 28 per cent on the second quarter of the previous year.

The main contributor to the boost in profits and revenues was the recent acquisition of former rival NETg; the new asset also gave SkillSoft a significant boost in its first quarter results.

"We are focused on the integration of NETg into SkillSoft's operations, and are confident that we can meet the cost synergy goals we set for ourselves to maximise NETg's contribution to SkillSoft's bottom line," said Chuck Moran, president and chief executive of SkillSoft.

"In fiscal 2008, we will be working with NETg customers to ensure an orderly transition as well as incurring costs to integrate NETg into SkillSoft operational processes to normalise the business as quickly as possible."

The firm increased its investment in research and development in the quarter with expenses of $11.4m incurred in the field, compared with $9.9m in the same period last year. There was also a minor increase to sales and marketing costs.

The educational software firm was formed in 2002 following the merger of Irish e-learning giant Smartforce and its smaller US rival SkillSoft.

© 2007 ENN

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Preview redux: Microsoft ships new Windows 10 build with 7,000 changes
Latest bleeding-edge bits borrow Action Center from Windows Phone
Google opens Inbox – email for people too thick to handle email
Print this article out and give it to someone tech-y if you get stuck
Microsoft promises Windows 10 will mean two-factor auth for all
Sneak peek at security features Redmond's baking into new OS
UNIX greybeards threaten Debian fork over systemd plan
'Veteran Unix Admins' fear desktop emphasis is betraying open source
Entity Framework goes 'code first' as Microsoft pulls visual design tool
Visual Studio database diagramming's out the window
Google+ goes TITSUP. But WHO knew? How long? Anyone ... Hello ...
Wobbly Gmail, Contacts, Calendar on the other hand ...
DEATH by PowerPoint: Microsoft warns of 0-day attack hidden in slides
Might put out patch in update, might chuck it out sooner
Redmond top man Satya Nadella: 'Microsoft LOVES Linux'
Open-source 'love' fairly runneth over at cloud event
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.