SMT Software publishes results for I quarter 2011

SMT Software announced financial results for the I quarter 2011. The company noted yet another record breaking quarter in its history.

• 127% increase in net revenues from sales (1Q2011/1Q2010)
• 198% increase in EBITDA (1Q2011/1Q2010)
• 200% increase in net profit (1Q2011/1Q2010)

In the first quarter of this year, SMT Software S.A. continued its dynamic expansion, consequently executing its strategy for 2011. The financial results for the first quarter 2011 are record breaking in terms of revenues increase dynamics in comparison to analogous period of previous year.

Favorable economic situation and continuation of contracts from the previous year allowed SMT Software to note the net sales at the level of PLN 6,42 M in the first quarter which translates into a 127% increase in revenues in comparison to those noted in the first quarter 2010 (PLN 2,82 ml.). In the January – March 2011 period the company also achieved 200% increase in EBIDTA (PLN 1,03 M) and the net profit almost 3 times greater (PLN 0,72 M) than the amount noted in the adequate quarter 2010 (PLN 0,24 M). 

Several important factors which allowed SMT Software to achieve exceptional financial results include continuation of the Bing search engine development project, which is executed for Microsoft. Major part of the revenue was also generated by the strategic alliance with Deloitte, where SMT Software is the provider of technology solutions for the advisory and consulting projects executed by the partner company. Furthermore, the noted results were influenced by general intensification of sales activities in all business aspects of the company, especially activities carried out by the Dutch branch.

„I perceive the outstanding results for the first quarter as a forecast for the whole 2011” – said Sebastian Łękawa, Chairman of the Board at SMT Software S.A. – “It results from the specific seasonality which is characteristic for our business. Usually a major revenue increase is noticeable in the fourth quarters. Being aware of the fact that the net revenue from sales in the I quarter 2011 is higher than the amount noted in the (also) record breaking IV quarter 2010 allows me to say that the prognosis for 2011 is rather promising.”
 

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