The company's search software is used across government agencies and multi- national companies to access information across e-mails, computer desktops and documents. Last year, sales were $64.8m, up from $54.9m in 2003. Software spending has snapped back after the post-Millennium downturn. Autonomy was first in and first out of that downturn, since it simply sells licences to its customers - there are no ongoing service revenues to cushion the blow when times are hard. Now, though, those additional sales are feeding through immediately into profits, and pre-tax profit was up 12 per cent to $8.6m.
Even before the TV software kicks in, prospects for this year are strong. Corporate IT spending continues to grow, existing blue-chip customers are likely to order additional licences as Autonomy software proves its use, and product upgrades are being launched. The shares are worth holding.Reuse content