Growing FIRM Moves to Profit

Online MR software specialist FIRM has announced second quarter revenues up 31% on the year. Sales totalled US $4.6m in the second quarter of 2006 compared to $3.5m in Q2 2005.

Meanwhile cash flow from operations moved from -$0.6m in Q2 2005 to a positive figure of $1.3m and EBIT margin from -6% to +7%.

The company reports strong growth in both North America (up 26%) and EMEA (Europe, Middle East and Africa, up 38%). CEO Henning Hansen comments: 'We are pleased with strong improvements in growth rates and EBIT results for the quarter and are excited that we are winning new clients in combination with our strong revenue development in the existing client base.'

The company has 99 employees and offices in Oslo, London, New York and San Francisco, plus partner resellers in Amsterdam, Sydney and Tokyo. FIRM became a public company in December 2005, and is listed on the Oslo Stock Exchange.

The complete financial report is available at www.confirmit.com/pdf/firm2006q2.pdf .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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