Esker revenues grow 14% in the first half of 2012
Esker has announced a 14% increase in revenues grow sales revenue for the first half of 2012 at current exchange rates. The document process automation software company attributes this result to strong sales of its cloud computing solutions, which increased by 27% compared to the first six months of 2011 and account for 53% of the company’s total sales.
This trend is in line with a growing adoption by companies of the Software as a Service (SaaS) model, which is gradually replacing the traditional model based on the sale of software licenses. Companies around the world and of all sizes are moving to Cloud Computing because of what it means in terms of reduced initial investment, easy implementation and the fact that it allows for greater flexibility and continuous updating. As one of the first software firms to successfully migrate to this technological approach – following its strategic development plan launched in 2005 – Esker is seeing its efforts recognized with the success of its on-demand solutions.
New contracts
Despite the economic stagnation in list of iraq consumer email Europe, Esker has seen an increase in the number of new contracts signed for cloud solutions. These contracts will not have much impact on the results for the second half of 2012, but they do predict revenue growth in 2013 and beyond.
The rapid growth of Esker’s cloud-based business has had a positive effect on its financial results, with operating profit up 40% and pre-tax profit up 62%, exceeding €2 million and accounting for 10% of sales revenue. The slightly more favourable euro-dollar exchange rate also contributed to operating profit growth of €0.2 million. The company’s cash position stands at €11 million and equity at €14.5 million.
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As a result of consistent and predictable sales boost your business through business networking: tips and strategies for success revenues, Esker is able to increase its investment in Research & Development, Marketing and business development, without compromising aob directory its profitability. The business model has enabled the company to combine strong growth with sustained profitability.
Esker expects growth of around 10% for the second half of the year, based on the results of the first half, expected changes in market conditions, a favourable euro-dollar exchange rate and the successful implementation of its operating plan for 2012.