Feeds

Revenues and profits up at Norkom

Strong US and Asia sales

Protecting users from Firesheep and other Sidejacking attacks with SSL

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

Choosing a cloud hosting partner with confidence

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.