Irish e-learning company Smartforce today announced record first quarter revenues of $61.3 million, an increase of 115 per cent on last year’s figure.
Net income for the first quarter ending March 31st, before amortisation of intangible assets, increased to $2.3 million or $0.04 per share - exceeding First Call consensus estimates by 33 per cent, the company said.
The results compare with a loss of $10.0 million, or $0.20 per share, for the first quarter of 2000, representing a year-over-year earnings increase of $12.3 million.
SmartForce reported that it has significantly exceeded its target of signing five deals worth over $1 million for the quarter, adding to its total of over 100 million-dollar deals.
The company reaffirmed its revenue and earnings targets for the next two years. For 2001, revenues of between $265 and $270 million and earnings before amortisation of intangibles of $0.30 per share have been targeted.
For 2002, the company is seeking revenues of $370 to $380 million and earnings before amortisation of $0.72 per share. The company has over 1,500 employees worldwide.
