ALG Software, the specialist in Activity Based Costing and Corporate Performance Management (CPM) solutions headquartered in the UK , has reported revenue growth of 96% for the first quarter (February – April) of 2006 compared to the same quarter in 2005.
Total gross sales between February 2006 and April 2006 were £3.6 million (US$6.7 million) compared to £1.8 million (US$3.5 million) last year. This growth has largely been the result of rising software revenue resulting from both an increase in the number of licenses and an increase in the size of the average software sale.
The financial results from the first quarter follow the annual results recently announced of £10.6 million (US$19.9 million) in total gross sales between February 2005 and January 2006 compared to £7.5 million (US$14 million) last year. This represented a 43% increase, nearly four times the 11.5% CPM market growth rate predicted by analyst IDC.
