13th Oct 2014 09:48
LONDON (Alliance News) - NetDimensions Holdings Ltd Monday said both revenue and invoiced sales in the third quarter were both "substantially higher" than the prior year, boosted by new client wins.
The software and services company said invoiced sales from new business was USD1.4 million in the three months to end of September, an increase of 40% over the prior year, while deferred revenue increased by 27% to USD7.1 million, although it said USD2.8 million of that deferred revenue will be released to revenue in the fourth quarter.
"The third quarter of 2014 saw notable growth over the same period in the prior year and puts the company on track to deliver on its stated business plan," said Chief Executive Jay Shaw in a statement.
NetDimensions said invoiced sales to clients in high consequence industries represented 82% of total invoiced sales for the quarter, compared with only 49% in the same quarter a year earlier.
It said it added 10 new clients in "high consequence industries" in the quarter, with a combined contacted value of USD939,000.
The average deal size for these new clients increased 54% to USD94,000, the company said, adding the clients operate in a number of "high consequence industries", which it defined as aviation, chemicals, healthcare, precision manufacturing and government.
The company posted a narrowed pretax loss in the half-year to end-June, alongside revenue growth, which it said was driven by an improved performance from its global secure software-as-a-service offering, a full contribution from its healthcare division, as well as higher revenue from its expanded global services division.
Shares in NetDimensions were trading 5.7% lower mid-morning Monday, at 66.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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