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PwC Up front | Issue 5 | Harnessing technology

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Up front Summer 2014 37 The results With investors starting to recognize Canadian tech companies' quality and growth potential, response to the IPO was strong. Initially priced at $11.50, Halogen stock rose 17 per cent on its first day, to $13.40. Although it was trading in the $8 range as of early June 2014, Loucks isn't concerned. "We announced our results for Q4 recently, and our recurring revenue on an annual basis was up 28 per cent year-over-year, and our total revenue was up 24 per cent," he says. "Our international revenue in Q4 was up 99 per cent, so I think that our growth story is still there and we're continuing to execute and build a fantastic business." The future Halogen sells its products to some 2,000 customers in North America, Europe, Australia and the Middle East. The company, which already has international offices in London and Sydney, Australia, will open locations in the Netherlands and the United Arab Emirates this year. "The long-term benefit of going public was clearly that growth capital," Loucks says. "That has enabled us to look a little further out to make sure that we're building something that, hopefully, in the long run will turn into a Canadian technology powerhouse." Uf The long-term benefit of going public was clearly that growth capital. Paul Loucks, President and CEO, Halogen Software Members of the Halogen Software team at the 2013 Best Ottawa Business Awards, where Halogen won Company of the Year and Financial Deal of the Year and President and CEO Paul Loucks was honoured as CEO of the Year. Challenges | Growth

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