Autonomy quarterly sales increase

Lynch: Autonomy did a lot of work to prepare for an upturn in 2010

Autonomy has reported a 53 per cent sales increase over its latest fiscal quarter, fuelled by an increase in demand from companies looking to comply with data management regulations.

The UK-based software firm posted fourth-quarter revenue of $223.1m (£139m) and pre-tax profits were up 51 per cent at $110m (£68.6m), in line with analysts’ predictions.

For the full year to December, revenue increased 47 per cent to $740m (£461.7m), while pre-tax profits for 2009 reached $323m (£201.5m), up 55 per cent from the prior year.

Autonomy provides software that searches email, telephone calls and documents for private sector businesses and government departments.

“At the very end of Q4 2009 we began to see some indicators of an initial improvement on the macro environment, which gives us confidence in the outlook for 2010 and, accordingly, we are adjusting our business plan,” said the firm's chief executive Mike Lynch.

During its last fiscal quarter, the company won contracts with BAE Systems, Boeing and Santander and is positive about business prospects for 2010.

“During 2009, Autonomy did a lot of work to prepare for a possible upturn in 2010, including significant new product developments. After this exceptional expenditure, we are now seeing our cost base return to its traditional model,” said Lynch.