SMT Software announces record-breaking results

SMT Software, an IT company listed on the NewConnect stock market since April, announces surprisingly good results for the II quarter. Net revenues from sales increased by over PLN 2 million. In comparison with the respective period of 2009, the rise dynamics is more than 100% higher.

The company announced results for the II quarter, which concluded on 30th June 2010. Acquisition of the results was greatly influenced, in the Board’s opinion, by the favorable economic situation and intensified sales activity. SMT Software emphasizes the net revenues from sales at the level of PLN 4,71 mil., in comparison with PLN 2,30 mil. in the last year (increase by 104,99%). EBIDTA (Earnings before Interest, Taxes, Depreciation, and Amortization) amounted to PLN 1 mil. In comparison with the II quarter of 2009, it increased by 274%.
The company has suffered a loss in sales which amounted to PLN -0,13 mil. However the loss was a result of the European Union project’s costs, as this calculation does not include the EU subsidy. The EU subsidy was counted as profit on operating activities, amounting to PLN 0,97 mil., in comparison with PLN 0,23 mil. in the respective quarter of the last year. Cumulatively, net revenues from sales acquired by SMT Software for the six months in 2010 amounted to PLN 7,53 mil. and were higher by 83,08% in comparison with the respective period of 2009. Accumulated profit from sales amounted to PLN 0,12 mil. in the first half of 2010.

"2010 is time of dynamic development for SMT Software and the recently announced quarterly results are not the only indicators of this fact - said Sebastian Łękawa, President of the Board at SMT Software S.A. – Recently, we opened our first branch abroad, its primary goal is to sell our services on the Dutch market. At present we are busy concluding contracts and acquiring new clients. And it’s the first half of the year that has just come to an end.”

Selected financial data from	II quarter	II quarter	Cumulatively	Cumulatively
Profit and Loss Account	01.04.2010	01.04.2009	01.01.2010	01.01.2009
	-  30.06.2010	-  30.06.2009	-30.06.2010	-30.06.2009
Net revenues from sales	4 706 962,09	2 296 136,74	7 529 706,35	4 112 703,14
Profit/loss on sales	-129 348,91	227 179,86	121 014,95	170 031,42
Profit/loss on operating activities	967 863,79	230 573,48	1 273 215,69	176 135,32
Profit/loss on business activities	971 882,41	230 893,84	1 268 805,44	227 226,83
EBITDA*	1 004 920,26	268 715,69	1 349 122,45	301 832,61
Gross profit/loss	971 882,41	230 893,84	1 268 805,44	227 226,83
Net profit/loss	745 946,65	202 508,84	985 215,80	198 841,83
Amortisation	32 107,60	37 821,85	79 296,05	74 582,52

SMT Software is an innovative software house whose main business activities include Dedicated Applications, Outsourcing IT, Mobile Solutions, GIS Systems, GPS Monitoring and Tracking, WEB portals. At present, SMT Software employs 130 IT specialists in 5 branches in Poland: Wrocław, Warszawa, Poznań, Gliwice and Białystok and 1 branch in the Netherlands, Abcoude.

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