Brisbane-based software group TechnologyOne (TNE) says earnings hit guidance with a 14% rise in the year to September 30 to a record $26.1 million.
The company said it was its 10th consecutive year of earnings growth.
Despite that good news and a higher dividend, the shares eased 3 cents to $2.15, in a market that was higher all day.
TNE YTD – TechnologyOne shares down, despite higher profit, payout
Revenue rose 7% to $180.5 million.
Final dividend was lifted to 3.83c a share, up form the 3.48c final for the previous year.
That made a total for 2012-13 of 5.60c a share, up from 5.09c, a rise of 10%.
Executive Chairman Adrian Di Marco said in a statement that, "TechnologyOne continues to successfully deliver its projects and achieve strong growth in our seven key vertical markets in Australia and New Zealand.
"Some of the key wins this year included replacing Oracle at 21 Western Australian Government departments and agencies with our OneGovernment solution; replacing Oracle JD Edwards at Toowoomba Council with OneCouncil; and a combined TechnologyOne Cloud and OneCommunity sale to Queensland Police Citizens Youth Welfare Association (QPCYWA)."
These wins clearly reflect the market’s need for solutions which dramatically reduce the time, cost and risks associated with large scale enterprise-wide systems implementations.
"We continue to see more organisations rejecting the failing business model of resellers and integration partners, typical of our multinational competitors, and buying into our Power of One and preconfigured solutions philosophy. Because we take complete responsibility for all aspects of our enterprise solution, we are 100 per cent accountable for the success of our customers’ implementations.”
“Our R&D program continues to be at the leading edge of our industry, as we embrace new technologies, new concepts and new paradigms, such as the cloud and smart mobile devices. Our strategy is to embrace new innovations and consumer concepts to deliver powerful enterprise software that is incredibly simple to use. The level of innovation and creativity is greater than at any time in our company’s 26-year history,” said Mr Di Marco in yesterday’s statement.
