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Diligent sales soar - Correction


Wednesday 13th July 2011

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Increasing acceptance of the Apple iPad by executives around the world is a key factor in soaring results at Diligent Board Member Services.

The company, which provides a web-based portal for boards of directors, reported $US2.9 million ($NZ3.5m) in new net annualised licence fees in the second quarter. It was the fourth quarter of record new sales, and a big jump from $US1.9 million in the first quarter.

Cumulative annualised licence fees rose to $US14.9m in the three months to June, from $US11.9m in the first quarter.

During the second quarter, the company signed 133 net new licences, compared to 36 in the same quarter last year, Diligent said today.

New clients included 31 companies on the New York stock exchange and 19 on the Nasdaq. Diligent now serviced 104 Fortune 1000 companies, of which 28 were added in the second quarter.

"The increasing acceptance of the Apple iPad in executive suites around the world has continued to be a key driver of the company's exceptional growth," Diligent said. The company has a proprietary product for the iPad.

Diligent shares bounded ahead 17c, or 13.6 percent, to $1.42c in early trading.

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