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- Altium (ALU) has posted its half-yearly unaudited sales and revenue figures for FY21, revealing it endured a tough start to the financial year
- Despite the first-half’s headwinds, Altium has maintained its full-year guidance
- The tech company announced its American operations slipped 10 per cent in first-half revenue of FY21
- Its Nexus printed circuit board product also recorded a 14 per cent slow down in growth, with the majority of ALU’s projected deals occurring in the second half of the financial year, according to a statement
- Overall, Altium’s first-half revenue for FY21 was down three per cent to US$89.6 million (roughly A$11.7 million)
- Altium shares are down 4.95 per cent trading at $29.26 cents each
Altium (ALU) has posted its half-yearly unaudited sales and revenue figures for FY21, revealing it endured a tough start to the financial year.
Despite the first-half’s headwinds, Altium has maintained its full-year guidance.
Overall, Altium’s first-half revenue for FY21 was down three per cent to US$89.6 million (roughly A$11.7 million).
Notable declines include its American operations revenue, which slipped 10 per cent in the first half of FY21.
Its Nexus printed circuit board product also recorded a 14 per cent slow down in growth, with the majority of ALU’s projected deals occurring in the second half of the financial year, according to a statement.
The company has mostly attributed “extreme” COVID-19 conditions and a challenging economic environment as reasons for the drop in revenues.
Despite the results, Altium’s sentiment remains positive and is maintaining its full year guidance.
However, Electronic manufacturing managed to stage a rebound, with Octopart achieving 19 per cent revenue growth for the half, while board and systems revenue remained flat year on year.
Altium says it will release its audited half-year results on February 15, 2021.
Altium shares are down 4.95 per cent trading at $29.26 cents each at 11:02 am AEDT.
