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July 7, 1997updated 04 Sep 2016 12:52am

TEMPLATE PROFITS SOAR WITH NEW BUSINESS

By CBR Staff Writer

Application development software house Template Software Inc has reported healthy interim figures to May 31 and is attributing its increased sales figures to its ability to attract new customers who want fast time to market in the client-server arena. Net income for the half rose 228% to $987,000, while revenue was up 49% at $8.5m. The Dulles, Virginia-based company says revenues generated from products were better than expected but mentioned that service revenues were down on what was anticipated owing to recruitment delays. However, Template is confident that staffing problems won’t be an issue in the third quarter following its acquisition of German application development house Milestone GmbH, carried out in June in a bid to expand its presence in Europe (CI No 3,190), which brings with it 116 new employees. Chief executive officer Linwood Pierce says an aggressive commitment to hiring will return service revenue performance to plan by the end of the third quarter. Template announced a partnership with Executive Consultants Inc in the second quarter that will see delivery of Template-based packages to the Fortune 1000 market, and signed contracts with new companies in the telecommunications, finance and healthcare markets.

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