WANdisco bookings soar

California-based collaboration software developer WANdisco said third quarter subscription bookings hit a record level after a string of new customers, including Nokia Siemens Networks, signed up for its products.

The AIM-listed group, which has operations in Sheffield, said subscription bookings rose 86% year-on-year to $2.01m.

Combined with bookings for the first half of $3.389m, the first nine months of the year delivered total bookings of $5.399m compared to $3.192m the year before.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

"New customers signed in the third quarter increased significantly from the previous quarter and included an array of blue-chip names including Nokia Siemens Networks who, after extensive trials in the first half, have moved away from more traditional technology and will be adopting Subversion MultiSite throughout the entire organisation," WANdisco said.

WANdisco, which is short for Wide Area Network Distributed Computing, said its products have been bought by Polycom, Northrop Grumman, Manulife Financial, DragonWave, Harmonic and Home Depot. Divisions of Dell and Research in Motion also adopted WANdisco products during the period, it added.

Historically, the second half of WANdisco's financial year, and in particular the fourth quarter, is its strongest, due to the higher levels of renewals that arise.

As a result, the group said it remains on track to achieve its targets for the current financial year.

CJ