Delcam Sets New Sales Record in 2007
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CADCAM developer Delcam achieved record sales again in 2007, continuing the strong increase in turnover that has been seen in recent years. Group sales for the year to 31 December 2007 rose by 11% to £29.7 million from £26.7 million in 2006. These record results were driven by good growth in software licence and maintenance sales in the core Power Solution range of software and by additional revenue from the company's newer software ranges, FeatureCAM, which was acquired in July 2005, PartMaker, which was acquired in July 2006, and Crispin, which was acquired in December 2006.
Profitability suffered as result of the weak dollar. With more than half of Delcam's global sales undertaken in the US$, this weakness impacted profit by more than £0.5m. Profit before tax was £2.15 million compared with £2.79 million achieved in 2006.
Commenting on the results, Peter Miles, Chairman, said, "I am pleased to report that the business has performed robustly. Our record sales are especially creditable given the background of US dollar weakness, which adversely affected sales and profitability. Our results demonstrate the high quality of our software offering and the diversified spread of our business across the many industries in which we operate."
"We have had an encouraging start to the current year but we will not be immune to any global downturn in economic activity," added Mr. Miles. "However, by offering our wide range of products and services across a number of industries, we are in a position to capitalise on the variety of opportunities available to us. We continue to view prospects for the business over the long term very positively."
Mr. Miles also highlighted the expected benefits of the closer relationship with leading metrology supplier Renishaw, following its £6.1 million investment in April. "Since then, we have been working together on new initiatives, including the development of software to support Renishaw's new inspection probes and for applications in the medical industries," he reported.
For further information on Delcam and its CADCAM software, please contact: -
Peter Dickin,
Public Relations Manager
Direct phone: 44 (0)121 683 1081
e-mail: marketing@delcam.com
Delcam plc
Small Heath Business Park,
Birmingham, B10 0HJ, UK
www.delcam.com
