Third-quarter revenues at education software group Riverdeep have risen to $29.6 million.
That is an increase of 500 per cent on the same period last year and is well ahead of market forecasts.
The group, which has headquarters in Dublin and Cambridge Massachusetts, said new business generated during the third quarter increased to $33 million compared to $9.1 million in the same period last year and $25.2 million in the prior quarter ended June 30th, 2001.
Chairman and chief executive Mr Barry O'Callaghan said he was delighted with the results. "During the past 18 months, we have become the leading global developer and distributor of multi-platform educational software to schools and homes," he said.
"This has been achieved through a combination of strong organic growth, consolidation of the market’s leading product brands and channel expansion brought about by alliances with global leaders such as IBM Corporation and Reed Elsevier." Mr O’Callaghan said.
> In September, Riverdeep reinforced its market leadership of the children’s education market with the acquisition of the education division of The Learning Company, a publisher of school education software for $60 million in stock and debt.