Diligent Board Member Services has lifted its annual profit by 43 percent, thanks to a strong December quarter.
The software-as-a-service company made a net profit of US$8.9 million in 2014, exceeding its November guidance.
It tripled its fourth quarter profit to US$1.8 million, though sales growth slowed from 40 percent in the March quarter to 22 percent by the December quarter.
Diligent is working on a new product, Diligent Team, which it plans to launch in the third quarter. And which it says has a larger potential market than its existing product.
Chief executive Alex Sodi said the result reflected strong demand for Diligent's Boardbooks product.
He said customer satisfaction remained high as demonstrated by strong sales.
As well, he said there had been an improvement in customer retention, with fewer bankruptcies, mergers and acquisitions over the period.
Although Diligent had nearly US$70.8 million in cash at the end of December, Alex Sodi said it was considering internal growth opportunities, as well as acquisitions, so it will not be returning cash to shareholders.
