Endace reports 61% sales boost

Kiwi network monitoring technology company delivers mid-year bonus

Endace, a London-listed Kiwi network monitoring technology company, has advised it expects revenues to increase by 61% year-on-year to reaching around US$13.5 million.

Profit before tax is forecast at US$1.8 million, an increase of 73%m from US$1.04 million in 2007.

The company says continues to perform well across all target geographic markets and across its three industry markets: government, telecommunications operators and financial services institutions.

“Our progress in the first half reflects the success of our investment programme aimed at creating a Company capable of sustained high growth," CEO Mike Riley says.

"Notwithstanding the current economic environment, we believe our products have become essential infrastructure to operators of mission critical networks. We believe we are well positioned to maintain this positive momentum with, as in previous years, annual revenues and profits weighted towards the second half. We remain confident of meeting expectations for the full year.”

The half yearly results for the six months to 30 September will be announced on 4 November.

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