Alterian, a leading international software company providing an Integrated Marketing Platform, holds its AGM at 10am today. At the AGM the Chairman of Alterian will make the following statement which is the Company's Interim Management Statement:
First quarter revenues were in line with management's expectations, increasing by approximately 29% compared to the prior year.
During the first quarter the Company saw continued good take up of its expanded product range, including sales of the Contact Optimiser and Dynamic Messenger email software products. New end users included a major insurance company, retailer, FMCG company and telecoms/media company.
On 9 July 2008 Alterian announced that its recommended offer for Mediasurface plc ("Mediasurface") had become wholly unconditional and the integration process has now begun. The Board anticipates that the acquisition will increase Alterian's product offering and significantly increase the proportion of revenue generated from the online sector and is pleased to report that the initial response from the customer and channel bases of both organisations is very positive.
Alterian's investment programme in channel development and products is expected to deliver continuing revenue growth in the current financial year.
Revenue growth in the current year will be weighted to the second half due to a combination of the integration programme of Mediasurface and the historical concentration of Alterian renewals in the fourth quarter. Following the integration and investment during the current year, the Board of Alterian expects the acquisition of Mediasurface to be earnings enhancing before amortisation and after expected cost savings, in the year ending 31 March 2010.
There have been no significant changes in the financial position of the Company since the publication of the Report and Accounts in respect of the financial year ended 31 March 2008 other than those related to the acquisition of Mediasurface.
The Board continues to expect good results for the current financial year and views the future with confidence.