FrontRange Solutions, the US subsidiary of JSE-listed FrontRange, increased operating profit by 50% in the three months to December.
Operating profit of $2.28 million compares with a $1.52 million profit for the same quarter a year earlier.
Total revenue for the quarter amounted to $20.7 million, up 13.3% from the year-earlier quarter. Maintenance revenue of $9.92 million (2003: $9.24 million) made up 47% of total revenue while licence revenue of $9.01 million ($6.96 million) accounted for 43.5%.
The balance was services revenue of $1.78 million ($2.06 million).
"I am very pleased with our 29% increase in licence revenues over the prior year," says CEO Michael McCloskey.
"Licence revenue growth is one of the most important measures of the health of a software company, and is a strong indication of the value we are delivering to our customers."
During the period the company added 358 new customers, 202 of which were in North America, 120 in Europe, the Middle East and Asia, and 36 in Asia Pacific.
The FrontRange share was trading at 440c on the JSE this morning, up 10c or 2.3% from Friday`s close.
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