Diligent reports quarterly loss

Friday 13th May 2011 2 Comments

Diligent Board Member Services posted a net operating loss of US$187,651 (NZ$236,256) in the three months to March 31 compared to a profit of US$2.49 million in the same period last year.

Revenue totalled US$2.98 million, up from US$1.75 million in the same period last year.

Diligent said it was its highest quarterly sales figure since it began offering Boardbooks licenses eight years ago. The product is a web based portal for boards of directors.

The gross profit margin of 72.5% for the quarter was the company's highest ever.

"This, along with our increasing positive cash flow from operations, demonstrates Diligent's continued commitment to managing costs and increasing efficiencies," the company said.

Diligent's share price was up 3 cents at $1.18.

NZPA

Comments from our readers

On 13 May 2011 at 4:20 pm duncan priest said:

Highly misleading headline. Read the announcement.Its a BRILLIANT result. If you dont understand , dont assume you do. Say nothing, or at least ring someone who can educate you.

On 14 May 2011 at 4:01 am Dr Midas said:

Strange comment Mr Priest - are you the CEO of Diligent by any chance?