Autonomy upbeat after strong year


16-02-2001

Autonomy, the Cambridge software firm that has seen its share price slashed by 35 per cent over the past few weeks, went on the offensive yesterday (Thursday), saying it had recorded a strong set of full-year figures.

The company has lost more than 1 billion in market value since the middle of January, pulled down by the negative sentiment surrounding tech stocks and its own future prospects.



However, chief executive Dr Mike Lynch said Autonomy's technology, which is designed to organise large volumes of unstructured data, was now ''successfully established as the standard'' in automating unstructured information.



The company had a customer base of more than 425 blue-chip companies, and revenue from the royalties paid by manufacturers using Autonomy's technology was providing a ''recurring high-margin revenue stream''.



In the last three-months of 2000, OEM -- original equipment manufacturer --revenues rose 84 per cent on the previous quarter to 448,000 US dollars (308,965).



Total group revenue for the full year to December 31 rose to 65.4 million US dollars (45.1 million) compared with 22 million US dollars the year before (15.2 million).



Pre-tax profit for the year was 20.7 million US dollars (14.3 million). This compares with a loss of 4.3 million US dollars (2.9 million) for 1999.