Educational software company Riverdeep Group said its second quarter revenues had jumped to $41.3 million from $11.9 million in the same quarter the previous year.
Riverdeep said results for the three months from October to December had exceeded expectations and that its strategy of increasing distribution and brand recognition through acquisitions was paying off.
Revenues in the first fiscal quarter of 2001 had been $29.6 million. In the six months to the end of December 2001, revenues rose to $70.8 million from $26.7 million in the same six months of 2000.
'As we deliver our products across our complementary distribution platforms, we at Riverdeep are working hard to achieve consistent growth in line with our guidance,' Chief Executive Barry O'Callaghan said in the results statement.
During the year, Riverdeep acquired the educational assets of US firm, The Learning Company and also expanded its reach through alliances with IBM, Reed Elsevier and Knowledge Universe. Most of the company's sales are in the US.
Riverdeep provides curriculum-based Internet and CD-Rom learning tools for US schoolchildren and online support and development for teachers.
