Diligent says revenues on the up

NZX-listed software company Diligent has reported a "solid start" to 2014.

First-quarter adjusted net profit rose 45 per cent to US$4.6 million ($5.3 million) on a 40 per cent increase in revenues to US$19.1m.

The result was helped by a 33.5 per cent increase in its adjusted editda margin (earnings before interest, tax, depreciation and amortisation).

Chief executive Alessandro Sodi forecast revenues for the 2014 year would rise by 24 to 27 per cent to reach US$80.5m to US$82m.

The company is valued on the NZX at $396m.

Its share price has been stable and trading between $4 and $5 since the start of the year.