Hansen boosts sales
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Hansen Technologies (HSN) rallied to a 13-year high in late morning trade as business rebounded in the second half and pushed up total annual sales by 13 with management promising an even bigger increase for the current financial year.
The billing and customer management software provider announced sales of $63.8 million for the year ended June 30, although earnings before interest, tax, depreciation and amortisation (EBITDA) fell 18.2% to $15.7 million.
The news sent the stock up 2.7%, or 3 cents, to $1.13 – its highest level since the technology bubble popped in late 2000.
The result came as little surprise as the company gave guidance only three weeks ago, but investors were encouraged by management’s upbeat outlook, which is calling for a more than 17% increase in sales thanks to the recent acquisition of energy software business Utilisoft.
Hansen didn’t provide a profit guidance, but investors are pleased by signs of a strong improvement in profitability in the second half of 2012-13, which showed EBITDA margin expanding 125 basis points (1.25 of a percentage point) from the first half to 25.1%.
Hansen is part of the Uncapped 100.
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