Media releases are provided as is by companies and have not been edited or checked for accuracy. Any queries should be directed to the company itself.

Integrated Research Limited Announces Results for 2006 Financial Year

  • 16 August, 2006 07:30

<p>Integrated Research (ASX:IRI), leading developer and provider of systems and application management solutions for high availability computing environments, released the following results for the financial year ended 30 June 2006.</p>
<p>Net profit for the period was $7.0 million, or 4.21 cents per share (diluted), compared to $6.2 million (3.75 cents per share, diluted) in the previous corresponding period, an increase of 12%. Total revenue for the period increased by 4% to $34.5 million, compared to $33.1 million in the prior year, after absorbing the impact of a 5% stronger Australian dollar. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 10% to $12.1 million.</p>
<p>Net profit for the second half of the year was $5.4 million, compared to $1.6 million in the first half, an increase of 229% and $3.6 million in the second half last year, an increase of 50%.</p>
<p>Financial result highlights ($’000)-------- 2006---------- 2005---------- % Change</p>
<p>Revenue from licence fees--------------- 19,040---------- 17,790-------- 7%</p>
<p>Revenue from maintenance fees-------- 14,909--------- 14,877-------- -</p>
<p>Total revenue---------------------------------- 34,523---------- 33,113---------- 4%</p>
<p>EBITDA----------------------------------------- 12,130---------- 11,026---------- 10%</p>
<p>Net profit after income tax------------------- 7,003------------ 6,238---------- 12%</p>
<p>Cash and cash equivalents at balance date 10,736----- 9,699---------- 11%</p>
<p>Net assets----------------------------------- 23,288---------- 19,958---------- 17%</p>
<p>Both 2006 and 2005 results have been prepared using the Australian equivalents of International Financial Reporting Standards.</p>
<p>In 2004 the company provided for $806,000 additional tax due to a retrospective change in legislation covering franking deficit tax offsets. Amending legislation in 2006 allowed the company to claim back the prior charge in the current financial year.</p>
<p>Steve Killelea, Chairman of Integrated Research said: “The results demonstrate our ability to deliver consistent growth in revenue and earnings. Combined with 98% retention of recurring maintenance revenue, the company has a strong platform for future growth.”</p>
<p>Chief Executive Officer, Keith Andrews, added: “All three geographic regions performed strongly with increased sales in 2006, and have established strong pipelines for the next year. I am pleased to report that sales of the traditional NonStop products increased by 7% and sales of the new product lines increased by 36%. The strong performance in the second half reflects the positive impact of the organisational changes we made during the first half. With continued investment in R&amp;D and sales, I expect the momentum to continue.”</p>
<p>Integrated Research continues to hold a strong financial position, with cash at 30 June 2006 of $10.7 million, compared to $9.7 million a year ago, and remains free of debt. Net cash flow provided by operating activities was $5.1 million.</p>
<p>Directors have declared a final dividend of 1.5 cent per share, unfranked, payable on 15 September 2006, bringing the total unfranked dividend for the year to 2.5 cents per share.</p>
<p>-end-</p>
<p>About Integrated Research Ltd</p>
<p>Integrated Research – the people behind PROGNOSIS - is a publicly listed company with an 18-year heritage of providing precise performance monitoring solutions for business-critical computing and IP telephony environments.</p>
<p>The company services customers in more than 50 countries through direct sales offices in the USA, Europe, and Australia, and via a global channel-driven distribution network. Customers include the world’s largest bank, telecommunications company, stock exchange, computer hardware manufacturer and Internet service provider.</p>
<p>Media Contact:</p>
<p>Amanda Brown</p>
<p>Kinetics Pty Ltd</p>
<p>Ph: + 61 7 5501 5722</p>
<p>amanda@kinetics.com.au</p>

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