Anite Up On Strong Final-Quarter Performance
Anite -- a leading provider of software solutions to the international wireless and leisure travel industries -- released a trading update today, ahead of its final results, due on July 2, 2013.
The company says that trading in the final quarter was strong -- slightly ahead of predictions in its Q3 interim management statement -- and that it now anticipates pre-tax profit for the full-year at the top end of market expectations.
And while revenue will still be below expectations, Anite said that margins across all of its businesses continue to follow the positive trends seen in the first half of the year. Anite's share price is currently up over 5%.
Commenting on the update, Anite's chief executive, Christopher Humphrey, said:
The Group has capitalized on its growing pipeline of opportunities, resulting in a strong finish to the year. This has enabled us to achieve our full year target and I am pleased with the progress we have made throughout the year.
The opportunities for each of our businesses remain encouraging, particularly in Wireless. We continue to increase our total addressable market, both organically and, more recently, with the acquisition of the Propsim product line. The roll-out of LTE 4G is still at a relatively early stage and we now have additional drivers to sustain growth over the next few years.
Although it has recently dropped back some 25% from its high of mid-February -- a fall essentially precipitated by concerns over earning -- and, as a result, is now only 2% up on this time last year, Anite's share price remains 80% up over the past two years.
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The article Anite Up On Strong Final-Quarter Performance originally appeared on Fool.com.Jon Wallis has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.