Diligent lifts Q1 earnings 14%, reaffirms full year guidance

Tuesday 12th May 2015

Diligent Board Member Services, the NZX listed governance software firm, reaffirmed its full year guidance of up to 19 percent sales growth after first quarter earnings increased 14 percent.

Adjusted earnings before tax, depreciation and amortisation increased to US$7.73 million in the three months ended March 31, from US$6.4 million a year earlier, the New York based company said in a statement. Sales rose 19 percent to US$19.1 million, while net income climbed 59 percent to US$3.1 million.

Diligent expects full year sales to be between US$97 million and US$99 million as it attracts customers to its BoardBooks service, and launches a new product.

“Diligent delivered another solid quarter, with revenue coming in above the guidance range," Brian Stafford, chief executive, said. "More importantly, we continue to see strong demand in the market for our board collaboration product. Companies are increasingly turning to our solution for an expanding array of use cases beyond the boardroom because of its intuitive, feature-rich design and world-class security."

Shares of Diligent last traded at $5.70 and has gained 8.4 percent since the start of the year.

BusinessDesk.co.nz

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