Record quarterly sales for Diligent

Thursday 14th April 2011

Diligent Board Member Services reported record quarterly sales in the first three months of 2011, as the company benefited from increasing acceptance by executives of the Apple iPad.

Diligent introduced an Apple iPad compatible version of its Diligent Boardbooks web-based board reporting software last September.

The NZX-listed company today reported first quarter net annualised licence fee income of US$1.88 million, more than three times higher than a year earlier, and 20% higher than the previous record posted in the fourth quarter of 2010.

The income increased despite the first quarter historically being among the slowest, Diligent said.

It also added 64 new licences during the quarter, including companies Dell and Rio Tinto.

A key driver of sales in the past two quarters had been the growth and acceptance of the Apple iPad by executives around the world, Diligent said.

Since introducing the iPad friendly application, it had seen unparalleled demand for Diligent Boardbooks.

Based on the pipeline of potential clients and large number of inquiries, Diligent expected its sales momentum to continue into the second quarter.

Diligent shares were up 11c to $1.01 in mid-afternoon trading.

NZPA

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