Alterian, the leading international provider of Integrated Marketing Platform software, today publishes its Interim Management Statement covering the period from 1 April 2009 to the date of this announcement, as required by the Listing Authority disclosure rules.
The Company will also be holding its AGM at 12pm today.
Performance in the first quarter to 30 June 2009 was in line with management's expectations. Revenue for the first quarter was three times greater than the small base for the same period in the prior year. This is the final quarter where prior year comparators do not include the benefit of the acquisition of Mediasurface plc which was completed on 7 July 2008.
The Company has performed well across all regions. North America in particular has benefited from initial sales of the Acquire offering. Acquire is a package of the Company's software products launched in response to the adverse economic conditions and targeted specifically for large national prospect marketers in North America. Acquire is bringing benefits around improving marketing effectiveness, efficiency and reducing total cost of ownership. In addition, a wide range of new client wins were secured across a variety of sectors and geographies in the period.
Alterian announced the acquisition of Social Media Monitoring software company Techrigy Inc on 15 July 2009. This is in line with Alterian's strategy of extending the capabilities of its Integrated Marketing Platform with complementary technology in high growth areas of the market. The Company has already begun the integration process and has had very positive feedback from its customer and partner base to the acquisition. The acquisition is expected to be earnings enhancing in the first full year of ownership.
There have been no significant changes in the financial position of the Company since the publication of the Report & Accounts in respect of the financial year ended 31 March 2009.
Renewal rates continued to be high in the first quarter and attrition rates remained low. The pipeline remains strong and the Board is confident about the Company's prospects.