The Altium (ASX:ALU) Share Price Is Going Bananas

The Altium Limited (ASX: ALU) share price is going bananas this morning, it’s up 20% after the company’s half year report was released yesterday.

Altium is an Australian multinational software business that was founded in 1985. It now has offices globally in places like San Diego, New York, Boston, Munich, Shanghai, Tokyo and Sydney. Its software focuses on electronics design systems for 3D PCB design and embedded system development. Its services include Altium Designer, Altium Vault, CircuitStudio, CircuitMaker, TASKING and Octopart.

Why the Altium share price is going bananas

The ASX tech company reported that revenue increased by 24% to US$78.5 million, Chinese revenue pleasingly went up by 49%.

EBITDA increased by 49% to US$28.36 million (click here to learn what EBITDA means) and the EBITDA margin grew significantly to 36.3% – this was a large improvement compared to the goal of 35%.

Net profit after tax (NPAT) grew by 58% to US$23.44 million and earnings per share (EPS) increased by 57% to US18 cents. Altium decided to increase the dividend by 23% to AU 16 cents per share.

Altium CEO Aram Mirkazemi said: “Altium is focused on achieving PCB market leadership by 2020 and market dominance by 2025…We expect our subscriber growth to accelerate post 2020 once the impact of these initiatives comes into effect.”

Altium, along with the two growth shares in the free report below are definitely ones to watch this year.

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