Endace puts in late spurt

Just a few weeks after issuing a profits warning, network monitoring solutions provider Endace said full year results may not be so bad after all, following a late spurt at the end of March.

As a result of good trading in the final two weeks of the full year period, revenues for the year are expected to be $41.1m, an increase of seven per cent over the previous year.

The company has signed a settlement and release agreement with an outstanding debtor for $0.72m, which has resulted a pre-tax profit of $2.2m and a year-end cash balance of $5.4m.

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"The board remains confident in the prospects for Endace given the company's technological leadership in its chosen markets, the strength of its pipeline, the continued growth of recurring revenue, and the expanding Enterprise customer base," the firm said in a statement.

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