Profits at Absolute Software surged 116% over the past fiscal year even as the Vancouver-based tech firm went without a permanent CEO for more than half that reporting period.
The company’s 2014 profits reached US$3.6 million compared with US$1.7 million in 2013, according to financial results released August 18.
Revenue, meanwhile, climbed 9% to $91 million, up from US$83.2 million a year ago.
Absolute, which specializes in anti-theft software that can track stolen or lost computers and smartphones, announced in mid-June that Geoff Haydon would step in as CEO and a boardroom director.
He took the top job in early July, after the company had already finished its fiscal year and fourth quarter on June 30.
The company was previously without a permanent CEO after co-founder John Livingston resigned in December 2013. Absolute’s CFO, Errol Olsen, had been filling in as interim CEO as the company sought out a replacement for Livingston.
Haydon said in a statement the financial results reflected how important data security has become. He pointed out sales to corporate and healthcare clients were particularly strong.
Sales contracts were up 18% over the past year, rising from US$26.2 million in 2013 to US$30.7 million this year.
