Feeds

Revenues and profits up at Norkom

Strong US and Asia sales

Boost IT visibility and business value

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

Build a business case: developing custom apps

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
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 leaves 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
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
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

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.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
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.
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.