Megabuyte - Technology sector intelligence

Autonomy has issued its Q3 results this morning which were trailed by a rather downbeat trading update earlier this month prompting a 25% run on the shares. In fact, revenues in Q3 were solid showing 10% yoy growth in the three months to September to $211.6m and adjusted pre-tax profits were ahead by over a third to $86.3m. Cash conversion was relatively weak but this was mainly down to a $15.9m payment to Spurs for the recently signed sponsorship deal. Premium subscribers can read our first thoughts on the results in Newswire Plus.

Apple and IBM like apples and pears

Apple and IBM both reported quarterly results yesterday. Whilst both have c$20bn revenues and c$4bn net income, the similarity ends there.  Apple is growing like a rocket, with revenues and net income up 67% and 70% respectively, whilst IBM reported just 2% and 9% revenue and net income growth. Read our full analysis of both results in Newswire Plus.

In-line Statpro takes Revolution to the next level

Provider of portfolio analysis and asset pricing to the global asset management industry Statpro has issued its Q3 IMS this morning saying that trading so far in H2 has been in line with expectations. Client wins for the company’s new on-premise solutions Statpro 7 are said to be encouraging and, perhaps more importantly, the company has recently taken its new SaaS product, Statpro Revolution to the next level of development by signing a global custodian bank. We met with Statpro management recently to get an update on strategy and Premium subscribers can read our thoughts following the meeting in Newswire Plus.

Ofcom to be avid viewers of Project Canvas

Ofcom has announced this morning that it will not launch a Competition Act investigation at the current time against Project Canvas/YouView, the IPTV service being set up by the BBC, ITV, Channel 4, Five, BT, TalkTalk and Arqiva, following complaints by Virgin Media, BSkyB and others. However, it recognizes the potential for anti-competitive behavior, and will monitor developments closely. Aside from the founding partners, other potential beneficiaries of Project Canvas include set top box maker Amino. Read our thoughts on this decision in Newswire Plus.

Velti’s accounting kerfuffle

Mobile advertising player Velti has reaffirmed its intention to list in the US, but at the same time restated net losses and debt upwards by c$3m from its recent interim results. The company has already undertaken significant revisions to its historic IFRS results (even before moving to US GAAP), as well as missed its own 1H10 revenue guidance given after period end (Premium Plus readers see here). We hope that it will have its finances in order by the time it gets to the US, given the US’s abundance of lawyers. Read the full story in Newswire Plus.

NCC gets the year off to a strong start

Software escrow and security testing concern NCC Group has issued an upbeat Q1 IMS this morning noting that trading in the first four months of the current year has started well and that the company is on track to meet full year estimates. Revenue growth in the Escrow business was 9% overall in the first four months with 8% growth in the core UK business and this solid performance has prompted NCC to put through price increases again this year, having skipped a year last year in the wake of the credit crunch. Revenues from security testing jumped 51%; assisted by acquisitions. NCC recently took an important strategic step with a significant acquisition in the US – Premium Plus subscribers can read our views on that deal here.

Kewill still on the look out for deals as it closes a solid H1

Trade and logistics software specialist Kewill has issued a trading update covering its first half to September which has been in line with expectations. Sales cycles remain extended but there is no real change there and the sales pipeline is said to be ‘solid’. After a break from the acquisition trail, Kewill completed its first acquisition in three years in June (Premium Plus subscribers see here for details) and, in the statement this morning, comments that it continues to look for acquisitions which will extend its geographic footprint or enhance is product portfolio within trade and logistics.