SurfControl reforms on track
It's all about on-demand
SurfControl updated the stock market today on progress in the third quarter, ended 31 March 2007.
The company's move to services delivered via the internet rather than straight software licensing continues to pay dividends.
Revenues from on-demand services grew 40 per cent compared to the same period a year ago while traditional product billing only grew seven per cent. On-demand services also contributed a profit for the first time - three months ahead of schedule.
Total revenue for the period was $32.6m compared to $26.4m in the same three months of 2006.
SurfControl is also increasingly working through the channel - 79 per cent of all billing is now done via a channel partner, up from 67 per cent in the third quarter on 2006.
SurfControl will announce its actual results 1 May. ®