British software company Autonomy turned in revenues of $740 million, that’s 47 percent more than 2008, making gross profits for the whole year of $652 million.
That’s a gross margin of 88 percent – a margin beyond the dreams of most corporations.
Dr Mike Lynch, the company CEO said that Autonomy is now one of Europe’s largest software companies. It obviously hasn’t been affected by the economic environment.
Modestly, Lynch put it this way: “Autonomy produced outstanding results with adjusted profit from operations growing by 59 percent at a time when most of our software peers have seen small or negative growth.”
The strongest growth in its business are OEM deals and cloud computing. “While it may still take a little time for people to understand how these models differ from traditional software businesses, we believe the momentum in these areas is accelerating.”
It struck 77 deals over $1 million and signed 47 OEM agreements during 2009. It’s got $45.3 million net cash in the bank. It’s liquid.