SMT Software publishes results for III quarter 2010

SMT Software, an IT company from Wrocław, listed on the NewConnect since April, released official information about its financial results for the III quarter 2010. The company retains the increasing trend which started prior to the company’s debut on the stock market.

The financial results acquired by SMT Software were influenced by the general economic revival and the market’s recovery after the global financial crisis as well as the maximization of the promotional and sales activities focused on the specific company’s products. During this period SMT Software acquired many new customers among which there are Abbott Laboratories, Castorama, Johnson & Johnson, Arctic Paper Kostrzyn, Linde Gaz Polska, a Swiss emergency center Euro-helpline AG, IndexBank – a Ukrainian bank, member of the Crédit Agricole Group, Nasza Klasa Sp. z o. o. and many others. Furthermore SMT Software opened its first branch in the Netherlands. The company’s efforts and favorable events on the market are reflected in the financial results. During the July-September 2010 period the income amounted to PLN 4,34 mil., which is a 77% increase in comparison to the analogical quarter of 2009. Furthermore, the company achieved a 43% increase of EBIDTA and almost a 50% increase in net profit dynamics in comparison to the adequate period of 2009.

The accrued income of SMT Software, accumulated from the beginning of 2010, amounted to PLN 11,87 mil., which means that the level of net revenues was almost twice higher than in the adequate period of the previous year (PLN 6,56 mil.). The accrued net profit amounted to PLN 1,51 mil., in comparison to PLN 0,55 mil. in the analogical period of 2009, which translates into an approximately threefold increase. However the level of gross profit on sales in the first three quarters of 2010 was slightly lower than the level acquired in the analogical period of 2009. This situation is a result of the European Union project - 100% of its costs were included in this specific position.

„The results for the third quarter reassure me that the chosen directions of activity, such as IT services sales intensification and development of the offered IT systems will allow us to acquire the expected level of income. – said Szymon Pura, Board Member at SMT Software S.A. – I closely monitor the ever greater SATIS sales results and the effects of the GIS team’s work which is responsible for implementation of the systems in public administration.”

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