Autonomy Reports a 47% Rise in Revenues

Silicon Fen's biggest publicly listed company, Autonomy Corporation Plc., a global leader in infrastructure software, has registered a 47% climb in revenues to $740m at the end of December 2009 and 55% growth in pretax profit to $323m.

"We have seen a change in sentiment in Q4 and have started to see people do more discretionary things," chief executive Mike Lynch told Reuters Wednesday, adding he would be happy for analysts to nudge their forecasts higher.

The Group's share reports a 27p (1.7%) rise in price in early trading. Autonomy's market capitalization is now over £3.8 billion, comfortably confirming it also as the largest UK software company.

Demand for Autonomy's IDOL product, which searches text for concepts or meanings rather than keywords, remained firmed throughout the downturn, but sales of new marketing and database software were more closely aligned to economic recovery.

UBS revealed it speculated Autonomy to grab 10-15 percent revenue growth in 2010, against a estimation of 14 percent, but noted the company was "well placed to react quickly and decisively to improving market conditions."

Dr Lynch quoted that at the end of 4Q2009 Autonomy began to witness signals of an initial improvement in the macro environment, which gives it confidence in the outlook for 2010.