Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Diligent continues sales drive in 3Q, upgrades drive revenue

Diligent continues sales drive in 3Q, upgrades drive revenue

By Paul McBeth

Oct 16 (BusinessDesk) - Diligent Board Member Services, the software-as-a-service company for corporate governance, continued its rapid sales drive in the third quarter as revenue from client upgrades underpinned growth in the period.

Revenue surged 145 percent to US$11.8 million in the three months ended Sept. 30, taking year-to-date sales to US$30.2 million, the New York-based, NZX-listed company said in a statement. Sales from client upgrades soared 205 percent to US$2.1 million, and new sales advanced 29 percent to US$6.4 million.

"Client upgrades continue to be a valuable source of new sales as well as our principal indicator of customer satisfaction with the Diligent Boardbooks product and service," the company said. "Diligent's management expects the positive trends in cash flow and improved balance sheet strength and flexibility to continue throughout 2012."

Diligent has gone from strength to strength in the past two years after cashing in on the increasing popularity of Apple Inc's iPad with its Boardbooks application. The firm has attracted almost a quarter of Fortune 1000 companies as customers, and counts 1,615 companies on its client base, with more than 2,330 board and 46,000 users worldwide.

The NZX-listed stock has surged as high as $4.09 from just 7 cents a share in the depths of the global financial crisis in 2009. It fell 1.8 percent to $3.81 yesterday, and has more than doubled this year.

Diligent said its cash flow position improved by US$8.6 million in the quarter, taking total cash to US$25.6 million as at Sept. 30.

The firm continued to pull most of its sales growth in the Americas, though at a slower pace. New sales grew 5 percent to US$4.1 million out of the Americas, with revenue growth in Europe, the Middle East and Africa climbing 77 percent to US$1.6 million, and Asia and Pacific more than tripling to US$750,000.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news