Feeds

Revenues and profits up at Norkom

Strong US and Asia sales

Build a business case: developing custom apps

Dublin-based Norkom has posted a 53 per cent jump in revenue thanks to strong sales in the US and Asian markets.

The financial software developer saw its revenues jump to €17.6m for the six months ended 30 September, with EBITDA (earnings before interest, tax, depreciation and amortisation) increasing 50 per cent to €3.1m for the half-year.

Adjusted earnings per share reached €0.0335, up 54 per cent from the same period in 2006. Gross margins rose slightly from 65 per cent in 2006 to 66 per cent this year. The firm put its strong performance down to a good showing in the North American and Asian markets.

Norkom has had a busy six months. In July it acquired risk and compliance solutions provider Digital Harbour in a deal worth €26.7m. With that acquisition Norkom acquired 10 new clients, primarily from tier 1 of the US financial services sector.

In addition, Norkom recruited 19 new clients during the first six months of this year, including Washington Mutual, Union Bank of California, Permanent TSB, Westpac, Bendigo Bank and St George.

"In the past couple of years Norkom has invested heavily in building out its senior management capacity across all our markets in anticipation of the organic and acquisitive strategy that we would pursue. It is good to see those investments now paying off," said Norkom's chief executive officer, Paul Kerley.

"Such success is tangible evidence of our strategy at work as we consolidate our position as a global market leader and gain recognition as a provider of innovative enterprise-wide financial crime and compliance solutions dedicated to the financial services sector."

© 2007 ENN

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.