Q416 in line, positive outlook for FY17
Esker has reported Q416 and FY16 revenues in line with our forecasts. Strong growth in new contracts combined with c 80% recurring revenues support continued growth and the company expects to generate double-digit organic revenue growth in FY17. We leave our forecasts unchanged pending full-year results in March. We note that Esker had net cash of €15.9m at the end of FY16, providing ample funds for investment to drive growth.ESKER and its subsidiaries are engaged in the design and production of software applications. Co. operates corporate resource access software such as applications and databases for workstations. Co. has three major product groups: Host Access, DeliveryWare and Fax Server. Host Access products allows users to access applications and databases stored on different servers from their own workstations. DeliveryWare responds to the need of companies for automatic management document delivery. Fax Server allows the user to send a fax directly from their workstation.
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