InnoWave Technologies SA Forecasts Fiscal Year 2015 Revenue of € 6,9 Mio

2015-05-19
InnoWave Technologies SA, a Portuguese IT and consulting company, today announced that its revenue guidance will be in the order of € 6,9 Mio for the fiscal year 2015, which would reflect a 30% year over year revenue growth. International sales are expected to grow 38% over 2014, and will then represent approximately 55% of total revenues (up from 52% in fiscal 2014). The company anticipates reporting its fiscal 2015 year-end financial results in May 2016.

The most significant achievement in the first half of 2015 was the opening of the London (UK) office. This branch, with an initial team of 10 staff, is already developing projects for several customers in the UK. With internationalization in place, the focus is now to reinforce InnoWave’s presence in mature and advanced markets, namely in the northern Europe and Canada/US regions.

Tiago Gonçalves, CEO of InnoWave Technologies, stated: “We’re also investing in Singapore and Dubai, where we expect to start new projects before the end of 2015", adding, "Later this year, we intend to open an office in the US or in the Netherlands."

The company expects to grow its staff approximately 15%, from 140 employees currently, to 160 by the end of 2015. In June, InnoWave will inaugurate its first Software Development Competence Centre called “ICE” (InnoWave Centre of Expertise), representing a 50,000 euros investment.

2014: financial results, new service offerings and certifications
The Company reported its fiscal 2014 financial results on May 15, with a total turnover of € 5,3 Mio. Canada and Belgium represented the largest part of the international revenue, but InnoWave also executed projects for customers in the UK, USA, Italy, Netherlands, Denmark, Norway and Japan.

During 2014 InnoWave launched new “Cloud” and “Big Data” services and improved its Mobile and Quality Assurance offering. In the products area, there was strong demand for InnSpect (a multi-device testing automation solution) and yubuy® (a TV commerce solution that allows easy, quick and secure purchase of services and products via a Smart-TV or Set-Top-Box).

The continuous investment in the company’s human resources were reflected in new certifications, particularly in Java and Microsoft technologies, Project Management and Testing. Another important milestone during 2014 was the achievement of an ISO9001 and NP4457 R&D and Innovation certification for all of InnoWave’s business processes.

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