It’s still early days for Sopheon but it looks like FY12 has got off to a reasonable start for the product lifecycle management software provider, after its downbeat FY11 in which license sales took a hit.
For the period from January 1 to date it has secured 14 new and extension licence orders, and bagged “a number of substantial services engagements”. Without the numbers it’s hard to say what it really happening but we get the sense that there is more activity from existing customers than new clients and that licence sales may still be below par –which is how it ended 2011 (see Licence sales elude Sopheon). However, the release of the latest version of its core product, Accolade 8.0, should help invigorate sales. It has also taken on two new sales staff in Europe to boost performance in the region.
Revenue for the full year from contracted business and recurring revenue stands at c£6.5m, up from £6.1m in the year ago period, which is a good sign. If it continues it will provide a stable base line in a business segment that is highly sensitive to economic movements.