View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 28, 1997updated 03 Sep 2016 7:23pm

ANDYNE BUY HUMMINGBIRD REPORTS ‘INTERUPTION’ TO GROWTH

By CBR Staff Writer

Canadian query and reporting tools company, Andyne Computing Ltd, has suffered an interruption to its meteoric growth with fourth quarter revenues gaining just 14% on the prior year. Overall growth for the twelve months to September 30 reached an impressive 41% but according to chief executive A. Cameron Thompson, this is barely satisfactory and still leaves room for improvement. Fourth quarter net losses at the Kingston, Ontario-based company, after conversion into US dollars, were $219,000 down from losses last time of $1.9m on revenue up 14.8% at $4.3m. These results come shortly after Hummingbird Communications Ltd, a fellow Canadian networking software company, agreed to pay $60m for Andyne (CI No 3,270) in a stock based acquisition. The dramatic tail-off in growth rates will be a worry for Hummingbird, which intends to let its acquisition trade as a separate entity, but Andyne insisted the set-back was temporary and that new product releases would bring the company back up to speed. Hummingbird declined to comment on the slowdown.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU