Education software group Riverdeep has reported net profits of $3.5m for its third quarter to the end of March, compared with an $11m loss in the same period last year.
Revenues more than trebled to $46.6m in the quarter. For the first nine months of its financial year, revenues were $117.4m, compared with $31.2m at the same stage last year. The figures were roughly in line with expectations.
Profits for the first nine months were just over $1m, following a $45.9m loss at the same stage last year. This year's figure included a $4.1m restructuring charge.
Riverdeep CEO Barry O'Callaghan said the market for electronic instructional materials was continuing to grow, while demographic and regulatory trends pointed to a strong market for its products well into the future.
Riverdeep shares were unchanged at 3.70 in Dublin, though they had been down around 20 cent earlier.
