Feeds

Profits soar at SkillSoft

Revenue up 28%

The Power of One Brief: Top reasons to choose HP BladeSystem

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

Securing Web Applications Made Simple and Scalable

More from The Register

next story
Whoah! How many Google Play apps want to read your texts?
Google's app permissions far too lax – security firm survey
Chrome browser has been DRAINING PC batteries for YEARS
Google is only now fixing ancient, energy-sapping bug
Do YOU work at Microsoft? Um. Are you SURE about that?
Nokia and marketing types first to get the bullet, says report
Microsoft takes on Chromebook with low-cost Windows laptops
Redmond's chief salesman: We're taking 'hard' decisions
EU dons gloves, pokes Google's deals with Android mobe makers
El Reg cops a squint at investigatory letters
Big Blue Apple: IBM to sell iPads, iPhones to enterprises
iOS/2 gear loaded with apps for big biz ... uh oh BlackBerry
OpenWRT gets native IPv6 slurping in major refresh
Also faster init and a new packages system
Google shows off new Chrome OS look
Athena springs full-grown from Chromium project's head
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.