LONDON -- Anite (ISE: AIE.L) advanced 3 pence, or 2%, to 131 pence in early trading this morning after the software developer issued a trading statement covering the period from May 1.
The FTSE 250 group, whose systems test mobile devices and wireless networks, said overall trading in the first four months of its financial year had been "encouraging."
The company also disclosed total revenue and adjusted operating profits were ahead of the performance reported this time last year, and that current progress was "consistent with achieving the board's expectations for the year as a whole."
Anite claimed its handset-testing profits were ahead of the same period last year, though added market conditions for network testing remained "challenging."
Anite also provides software for travel agents, and said the pipeline of opportunities in this area remained "strong."
The company confirmed net cash as of Aug. 31 2012 was 13 million pounds.
Commenting on today's statement, Christopher Humphrey, Anite's chief exec, said:
Each of our businesses is benefiting from the investments we continue to make in our products. The nature of our Wireless businesses means that order visibility remains short. However, this encouraging start to the year underpins our confidence in our ability to deliver sustainable growth and meet our expectations.
In July, Anite reported full-year results that showed sales up 31% to 123 million pounds and adjusted profits up 75% to 28 million pounds. Current City forecasts suggest earnings may advance from 6.7 pence to 8.5 pence per share by 2014 -- implying the group's upbeat progress can continue in the near term.
Just four years ago, these shares traded at 24 pence. Smart investors who spotted Anite's growth potential back have since earned a five-fold gain -- equivalent to a superb 53% annual compound average return.
If you are keen to earn such handsome profits from shares, this free Motley Fool report -- "10 Steps To Making A Million In The Market" -- can help you on your way.
The report explains how tracking down small, dynamic companies -- such as Anite in 2008 -- is a vital step on the path to the magic million milestone. You never know -- the next Anite could be out there right now, ready to transform your wealth.
Investing is by no means easy in today's uncertain economy. That's why we've published "The Market's Top Sectors" -- our guide to three favorable industries. This free report will be dispatched immediately to your inbox.
Further Motley Fool investment opportunities:
The article 5-Bagger Anite Confirms "Encouraging" Progress originally appeared on Fool.com.
Maynard Payton does not own any shares mentioned in this article. The Motley Fool has adisclosure policy.
We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.