Absolute Software Corporation (TSX:ABT) saw an 8% jump in sales in fiscal 2014’s third quarter ending March 31 when compared with the same period last year, the company announced May 12.
Sales for the quarter were US$20.5 million – up US$1.5 million compared with US$19.0 million in Q3 2013. This increase was driven in large part by growth in the company’s education and corporate products, up 10% to US$19.6 million. Sales of its theft management products were up 2% and sales of device management and data security products increased 24%.
Net income for the quarter was US$1.4 million, compared with a US$0.5 million loss a year ago.
Year-to-date sales were US$66.5 million – up 7% compared with US$62.1 million in 2013.
“Strong performance in the North American education and corporate verticals drove our top-line growth in the quarter,” said Absolute’s interim CEO Errol Olsen. “Our device management and data security solutions delivered strong growth, led by sales of Absolute Manage and record performance of our MDM product.
“Looking forward, against the backdrop of a continued shift toward mobile computing, increasing requirements for data security and growing demand for simplified IT management, our product portfolio is uniquely positioned to address today’s top priorities for IT and security managers.”
The company said it is confident about the marketing over the near future and expects overall sales for the entire fiscal 2014 to be up compared with 2013.
Absolute is in the process of searching for a permanent CEO.
The company ranked ninth in Business in Vancouver's list of the biggest software companies in the province, and is number 29 in the list of top tech companies in B.C.
