Dr.Solomon's catches growth bug

Dr.Solomon's has nearly trebled its annual operating profits on the back of increased demand for anti-virus software and a successful entry into the US retail market.

Dr.Solomon's has nearly trebled its annual operating profits on the back of increased demand for anti-virus software and a successful entry into the US retail market. Dr.Solomon's is now ranked third in the list of top US anti-virus publishers, ahead of IBM and Touchstone/Trend, just three months after its US retail launch.

The company's operating profit for the 1997 financial year increased by 170% to £9.1 million from £3.4 million in 1996. Turnover from operating activities for the year was £14million compared to £10.9 million in 1996.

The UK-based company has come under fire recently from anti-virus rivals for being too UK-centric but director of product marketing Mike Hill said that the results are proof that the company is in fact a worldwide player.

"The UK accounted for just under 60 per cent of total sales for the year but a good thing for us is that 40 per cent came from outside of the UK," said Hill. "That in itself answers the accusations that we are a UK-only firm."

Results for the fourth quarter saw operating profits increase by 117% to £3.1 million from £1.4 million in the same period last year. Bookings were also up by 59% year-on-year from £9.3 million to £14.8 million. Bookings outside the UK were up by 109% year-on-year despite the adverse effect of the rise in the value of sterling and now represent over 40% of total bookings.

Hill pointed a finger at its rivals saying that "McAfee only gets around 20 per cent of its total revenues from outside the US. They criticise us for being too UK-based but this proves we are more global than they are."

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All