Vancouver's Gemcom Software International (TSX:GCM) reported a 51% increase in revenue and a similar increase in profit for its fiscal year ending March 31, 2008.
Annual revenue jumped to $54.2 million from $35.8 million a year earlier. The rise was due to increases from its acquisition of Surpac Minex in July 2006 and significant organic growth.
Clients of the company, which provides software to the mining industry, include BHP Billiton, Codelco and De Beers.
Strong revenue helped the company post an annual profit of $6.7 million, a 47% increase from the company's annual profit of $4.5 million a year earlier.
Gemcom recently announced it was being acquired by two private equity firms JMI Equity and the Carlyle Group for $180 million.
Gemcom's share price range during the past week: between $2.96 and $3.02; 52-week high: $3.06; 52-week low: $1.45.