Objective sets earnings record

Objective sets earnings record

August 24, 2009:Objective has shaken off the impact of the global financial crisis, announcing record figures for revenue and profit for the current financial year.

Revenue was $A40.3 million, a 20% increase over the previous yea and a net profit after tax of $A4.4 million for the year, a 120% increase on the previous corresponding year. European revenue grew 50% to $9.4 million while Asia Pacific revenue was $A30.1 million, representing an increase of 15%

Tony Walls, CEO, Objective Corporation, said: “Asia Pacific operations performed strongly once again and our European operations have returned to profitability despite a difficult market. During the year, we expanded our public sector market share and capability with the successful acquisition of Limehouse Software Limited. This was in line with our long-term strategy of combining organic growth with strategic acquisitions to extend our geographic and vertical market leadership.

“The Limehouse solution extends our offering from process management and record keeping through to built for purpose applications that meet very specific needs of our target markets.Limehouse also has a proven and profitable software-as-a-service model, completely hosted in the cloud. This is the first of many solutions Objective will deliver via this model.”

Objective reports that expenditure on research and development was $A9.6 million, approximately 24% of revenue. Highlight of the past 12 months include the launch of ObjectiveCommittees, a complete solution for committee management, designed specifically for government, and the release of Objective 7.3.

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