MRO revenues go through the roof

MRO Software, a maker of collaboration software for the industrial sector has reported record revenues for its fourth quarter.

The company has turned in a 16 per cent increase on the equivalent quarter last year hitting $50.9m. Figures for the entire year show that revenues are up 10 per cent to $185.5m.

However, the company has lost more than $7m off pro forma net income.

James Fair, VP EMEA, said this is due to the company's two-year investment streak in supplier enablement technologies.

This specific phase of investment was concluded in June with the acquisition of Pollego.

The company now expects to see a 50 to 100 per cent growth in earnings per share in 12 months time.

Fair said that revenues had increased because of the company's focus on "converting engineering speak into business speak".

The company's share price has remained relatively steady this year. Overnight it closed unchanged at $13.20.