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A-Team Insight Blogs

First Derivatives Annual Results

First Derivatives, a leading provider of software and consulting services to industry global investment banks and hedge funds, today announces its results for the twelve months ended 28 February 2011.

Financial Highlights:

– Revenues increased by 44.2% to £36.740 million (2010: £25.476 million)

– EBITDA increased by 18.3% to £8.575 million (2010: £7.247 million)

– Pre-tax profits increased by 15.1% to £6.495 million compared to (2010: £5.645 million)

– Fully diluted earnings per share increased by 12.4% to 29.0p per share (2010: 25.8p)

– Net assets increased by 52% to £24.888 million (2010: £16.310 million)

– Final dividend of 7.25p per share, which together with interim dividend of 2.9p amounts to 10.15p for the year (2010: 9.5p)

Business Highlights:

Significant and ongoing investment into staff – headcount 524 at year end (2010 year end: 385)

– Strong performance across all divisions:

– Software sales increased by 104.3% to £12.511million (2010: £6.124 million)

– Consultancy sales increased by 25.2% to £24.229 million (2010: £19.352 million)

– 40 software clients now generating revenue

– Acquired LakeFront Data Ventures Inc. in August 2010 – this and all prior acquisitions now fully integrated

– Established SaaS offering with five data centers in UK, US and Ireland

– Secured £4.3 million commitment from Invest NI for creation of 359 new jobs over next three years

David Anderson, Chairman of First Derivatives commented: “We are continuing to make a substantial investment in the development of all the Group’s activities as we build a robust organisation with a strong asset base for growth. The past year has been one of further building and proving our software assets. Soft product launches will continue to occur in the first half of the current year and we expect to follow this with sustained marketing in the second half as we aim to capitalise on the investments made. We continue to have a strong pipeline of prospects and are pleased with how the Group is now positioned to further penetrate its target market. We have made a strong start to the current year and expect to be able to report further progress in the year to February 2012.”

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