EarningsAVEVA announced yesterday that the June quarter was a “good start” to its fiscal 2014; happy investors sent its share price up 14% for the day.

These interim announcements don’t include many actual numbers, so AVEVA uses qualifiers to describe progress. The company said that demand was up for both Engineering & Design Systems and Enterprise Solutions; with steady growth in  in EMEA and Asia Pacific and a pick up in activity in Brazil. AVEVA saw a lot of activity from EPCs in oil & gas in all geographies, and especially in the offshore segment. I sometimes wonder if it wouldn’t be easier to just use numbers.

AVEVA also gave an update on adoption of Everything 3D (aka E3D), saying that “by the end of the [June] quarter … AVEVA E3D was in use by more than twenty customers”. That’s great, especially considering that many projects in this industry last years and switching tools in mid-project is unlikely. In true British fashion, though, the company downplays this accomplishment in the second half of the sentence: “albeit, as expected at this stage, the majority of these deployments are small and principally for evaluation purposes with short-term trial contracts.” Makes sense — and sounds completely to plan.

In addition to the positive general news, investors were probably reacting to the one number in the announcement: AVEVA ended the month of June with over £204 million of cash and no debt. That’s a net increase in cash of £14 million since March 31, more than was generated in all of last fiscal year.

We probably won’t hear more on the earnings front from AVEVA until its half year results are out this Fall — but, if this is anything to go on, it’s shaping up to be a very good year.


Other companies are starting to announce the dates of their …. announcements. Scheduled so far are SAP (18 July), Dassault Systemes and PTC (25 July ) and 3D Systems (30 July) — but stay tuned, since we start in earnest next week.