A slowly dawning realization by employers that unlimited internet access in the UK may well be abused by some of their staff is lifting earnings at JSB Software Technologies Plc, the Congleton, UK-based software company.
The company’s original Multiview division, which connects Windows PCs to Unix systems, increased revenue by 17% to $1.5m in the second quarter to November 30. But this was eclipsed by its SurfControl operation that recorded revenue of $1.6m, compared with $101,000 in the same quarter last year.
SurfControl enables employers to control what web sites their staff can view. JSB reckons there are as yet only two rival products in a sector with under 1% market penetration. While estimates vary, analysts anticipate phenomenal growth with the market increasing in value to anywhere between $260m to $1.5bn by 2003.
JSB, which says the figures are well ahead of expectations, reports that 95% of SurfControl revenue was in the US and, with all its revenue achieved from software licenses, margins are likely to be above 90%.
Easdaq-quoted JSB put out quarterly sales statistics ahead of the full profit and loss figures and says that revenue for the first half increased 86% to $5.45m. The company’s shares increased 22.6% to 650 pence on the results with strong expectations that it will eventually be a takeover target.
