The RPMGlobal Holdings Ltd (ASX: RUL) share price certainly has been a stand out performer this morning.
In morning trade the shares of the software company, formerly known as Rungepincockminarco, are up a massive 19% to 76 cents.
Why have its shares jumped?
This morning the company released a trading update which revealed that it has had an excellent finish to FY 2017 which included the single highest value software license transaction in its history.
According to the release, due to the multi-component nature of this transaction, it necessitated a lengthy technical accounting review which RPM has been working on with its auditors since early July.
The outcome of this review is that 45% of the transaction has been deferred and is expected to be recognised in the first half of FY 2018.
But even after deferring 45% of the transaction, management expects to report over 100% year-on-year growth in Software License fees in FY 2017.
Software fees are projected to be $23.7 million in FY 2017, compared to $11.8 million in FY 2016.
