New sales of SNARE software products have continued to surge during the month of May. The month closed out with a very impressive sales total that has made May the second best sales month so far this financial year.

• SNARE sales growth now at 117% YTD to end of May
• May comes in with second best sales month of the year
• Sales growth rate continues to improve month by month
• Upgrades are now coming from our Open Source base
• June sales forecast to be a record along with the full year
• Denver office resources continue to expand

New sales of SNARE software products have continued to surge during the month of May. The month closed out with a very impressive sales total that has made May the second best sales month so far this financial year.

As a result, the YTD new sales total for SNARE has grown 117% compared to the same period last year. This is calculated on a fixed foreign exchange rate basis so that sales from one year to the next can be measured without any effect from exchange gains or losses. This growth rate in sales has continued to improve from late last year through to the current month and is directly attributable to the professional processes employed by the team in handling new leads.

A new trend has emerged when recent sales have been analysed. There has been a notable shift in perception by our users and those that have made use of our Open Source solution in the past are starting to understand that to gain full security protection, they need to upgrade to our full function Enterprise software solutions. These upgrades are expected to provide an ongoing increased stream of new licences that will support the sales growth rate being achieved to date.

The sales pipeline for the month of June is the best that it has ever been and this heralds the opportunity for a record sales total for the month of June and the full year. The indications are that the growth will continue through June and provide a record growth result for the full year.

Our Denver sales office has continued to expand to handle this growth and additional resources join us there in early June to help us manage this growth.