Shares of Integrated Research Limited (ASX: IRI) have taken flight today after the small-cap software provider issued a profit update for its half year results ending 31 December 2014.
While the stock was trading within just one cent of a 52-week low on Wednesday (at 93 cents), it has risen an astonishing 35.5% this morning to be trading at $1.26 – close to a two-year high.
So What: Integrated Research is a leading global provider of proactive performance management software. In a market sensitive announcement released on Wednesday night, the company stated that it expected to deliver strong profit growth in the first-half of the 2015 financial year, forecasting a profit after tax of between $7 million and $8 million.
Based on the $4.5 million recorded in the prior corresponding period, that would reflect profit growth of between 55% and 77%. It also compares to the $8.5 million profit recorded by Integrated for the entire 2014 financial year. The company expects to announce its first-half results on February 19.
The company said that its preliminary results, which included strong sales across all product lines, were influenced by the falling Australian dollar, although the full positive impact was partially offset by forward exchange rate contracts.
Now What: Although it's been a bumpy ride for shareholders over the last couple of years, last night's announcement shows that there is still potential for fantastic growth over the coming years which could lead to enormous shareholder returns.
Before you buy Integrated Research however, there's another ultra-promising stock that needs your immediate attention.
