Diligent third-quarter earnings drop 38% on expanded sales team, mounting US expenses

Mon, 09 Nov 2015

By Paul McBeth Nov. 10 (BusinessDesk) - Diligent Corp, the governance software developer, reported a 38 percent decline in third-quarter profit as the firm expanded its sales team and administrative costs rose in the US. Net profit fell to US$1.61 million, or 1 US cent per share, in the three months ended Sept. 30, from US$2.62 million, or 2 cps, a year earlier, the New York-based, NZX-listed company said in a statement. Profit was dented by an 89 percent rise in sales and marketing costs to US$6.22 million, and a 51 percent increase in g...

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