Autonomy issues sunny side up forecast
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Autonomy expects to see its revenues and profits for 2008 outshine City forecasts.
The Cambridge-based firm said in an upbeat trading statement yesterday that despite the current economic doom and gloom rumbling through the High Street and hitting manufacturing, it had “outperformed the company’s expectations”.
Autonomy founder Mike Lynch said the software maker had also successfully swerved the “negative effects on revenues of foreign exchange movements in the fourth quarter”.
It now expects to see sales to be above the $502.3m (£330m) City prediction for the fiscal year ended 31 December 2008 off the back of brisk demand for its search and discovery software. Fully diluted adjusted earnings per share should be above the consensus forecast of $0.64.
Shares in Autonomy, which rejoined the FTSE 100 in September, closed up 71 pence at £10.52 last night on the London Stock Exchange following the company’s bullish prelims announcement. ®
COMMENTS
Government work coming their way?
If memory serves, Autonomy won one of Privacy International's Big Brother Awards about a decade ago. Their winning product was AI software that deduced social networks from the pattern of calls logged by telephone companies.
Could it be that Ms Smith has been talking with them, and that a slice of the mooted £12 billion is scheduled to head their way? Surveillance certainly seems to be one of the few remaining growth areas.
Astonishing
that everyone else is reporting a meltdown and yet these people are doing quite well. I worked for these cowboys before ( see http://www.paullee.com/computers/autonomy.php ) and they had an overinflated opinion of themselves even then.
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