Educational software group Riverdeep has reported earnings of $3.2m for the first quarter of its financial year after a loss of $7.9m in the same quarter last year.
Revenues for the three months to the end of September increased to $29.6m, compared with $4.8m a year earlier. Contract value, which represents new business generated in the period, surged from $9.1m to $33m.
The company said recent acquisitions had broadened its product lines and provided it with the ability to record consistent growth.
Riverdeep shares closed 20 cents lower at 4.15 euros in Dublin this evening - a fall of 4.6%.
