The Objective Corporation Limited (ASX: OCL) share price has surged to a fresh 52-week high today at $2.75, up from a previous high of $2.55. The OCL share price has since retreated marginally but is still trading at $2.68.
What Happened?
Objective Corporation describes itself as a specialist provider of content, collaboration and process management solutions, enabling businesses and organisations to enhance their own digital transformation and make better use of their information.
The company reported a 33% lift in revenue during the six months ended 31 December 2016 to $30.3 million, while its net profit after tax (NPAT) lifted 156% to $3.7 million.
More recently, Objective provided an update on what investors should expect when the company reports its full-year results in August. The company expects to report revenue of $62 million, up 25% compared to FY2016, with earnings per share expected to rise 55% to 9 cents per share. That's up from 5.8 cents per share last year.
Meanwhile, Objective also announced that it had significantly improved its cash position, boasting $17 million of cash on the balance sheet at the end of June. That was up from $12.5 million the previous year.
Now What:
The Objective Corporation share price has now risen almost 49% since the beginning of the year, and more than 68% over the past 12 months. Despite that strong surge, Objective Corp could still be worth the attention of long-term investors.
