Sales Momentum Maintained
- Q1 new sales invoiced for the Prophecy Group have come in at $3.4 million
- Full year new sales for FY15 for the group were $5.54 million
- Considerable Q1 growth for both SNARE and eMite products
- Early new sales translates to earlier investment in additional resources
- Record Q1 new sales achieved for both SNARE and eMite products
- Excellent new name reference sites added
- Very strong start to eMite new sales
- Record Q1 revenue number expected on the back of the sales momentum
Prophecy International achieved new invoiced sales totalling $5.54 million in the full 2014-2015 financial year to begin a new era of growth for the company. The sales growth momentum achieved in FY15 has continued into FY16 with group Q1 new invoiced sales coming in at $3.4 million, providing the company with a very pleasing result to begin the new year.
Compared to the same quarter last year, new sales for both SNARE and the eMite products have grown considerably. The momentum gained from our FY15 sales push has been maintained and the sales strategies put in place a year ago continue to produce the improved results expected. SNARE new sales are running ahead of eMite new sales YTD as planned in the annual budgets. eMite products have the potential to outperform and the internal challenge is on for eMite sales to exceed SNARE sales by the full financial year end. …../2
Good early sales numbers auger well for the business, as the locked in revenue achieved enables management to reinvest additional resources into the growth of each key business unit at an earlier stage. That early investment in turn provides a boost to the potential achievement for the full financial year.
The SNARE business unit achieved very high sales numbers in Q4 of FY15 and it’s very pleasing to see momentum maintained to produce a record new sales number for Q1 SNARE sales. An impressive list of new names has been added during the course of the quarter and these sales demonstrate the market acceptance that SNARE has been able to achieve over the last 12 months of enhanced sales activity. Each new name further adds to the prestigious list of SNARE users, thus providing great references for future sales.
eMite sales have taken off very strongly since our newest acquisition and produced a Q1 result that is well ahead of budget. This has been a fantastic result, bearing in mind that an integration process has taken place alongside the normal conduct of business. Some excellent new names have been added to the client list and the sales pipeline has been expanded with very promising opportunities. Integration work has begun that will enable the eMite products to work with SNARE and further enhance our abilities to service the medium to large IT departments worldwide with our expanded product set.
The excellent new sales results for Q1 will flow through to produce a record Q1 revenue number once the financials are tabulated for the quarter. All in all it’s been an outstanding start to the FY16 year.