Autonomy successfully searches out profit growth

Autonomy has bucked the recession, returning annual profits for last year up 42 percent on 2008.

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Autonomy has bucked the recession, returning annual profits for last year up 42 percent on 2008.

The UK-based enterprise search market leader reported turnover of £462m ($740 million), up 47% from 2008 and operating margins at 44%, compared to 41% in 2008

Mike Lynch, Autonomy CEO hailed the results as a major eachievement in tought economic tiems and said “We continue to see our strongest growth in the new models of the software industry such as OEM and cloud computing.

“Whilst it may still take a little time for people to understand how these models differ from traditional software businesses, we believe the momentum in these areas is accelerating.”

In 2009 Autonomy launched a series of new products, including IDOL SPE, Arcpliance, ICE, IDOL Social Media and the Interwoven product range, and boosted R&D spending 26% year-on-year.

Lynch said, “The driver for our business is the need for computers to understand and process human friendly information automatically. We believe this driver will continue to accelerate, and as customers find discretionary budgets again we expect to see good growth.”

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