SMT Software announces results for the IV quarter 2010

SMT Software, an IT company from Wrocław listed on the NewConnect stock market announced financial results for the IV quarter 2010 and the results summary for the whole 2010 financial year.

SMT Software S.A. achieved record results in the IV quarter 2010. The favorable economic situation and effects of the increased promotional effort and sales investment allowed the company to achieve better than satisfactory financial results.
In the period from October to December 2010 the net revenues from sales amounted to PLN 6,29 mil. which translates into a 73% increase in comparison to the analogous quarter of the previous year. The company noted 45% increase in EBITDA and 46% dynamics of the net profit in relation to the adequate period of 2009. It is worth noticing that the revenues from sales after the first three quarters of 2010 (PLN 11,87 mil.) were higher than the revenues observed in 2009 (PLN 10,20 mil.). With the record breaking result achieved in the fourth quarter 2010, SMT Software noted net sales at the level of PLN 18,6 mil. in the 2010 financial year, which is a 78% increase in comparison to the revenues observed in 2009 (PLN 10,20 mil.). It should be emphasized that the dynamics of revenue increase at the level of 78% surpassed the dynamics achieved in the 2009/2008 period (65%). In the IV quarter 2010 the company achieved net profit at the level of PLN 1,19 mil. and as a result the accrued net profit for 2010 amounted to PLN 2,70 mil. This result doubles the amount achieved in the previous year (PLN 1,36 mil.).
The level of the achieved results was greatly influenced by the execution of Bing project for Microsoft as well as the sales activities carried out by the Dutch branch of SMT Software, which is the first foreign branch of the company established in July 2010.

“We are aware that such positive results and intensive development of SMT Software is also a result of the fact that we have become a public company listed on the NewConnect stock market. – said Sebastian Łękawa, chairman of the board at SMT Software S.A. – The results noted for the fourth quarter 2010 proved that our investors’ trust in our potential, reflected in the increasing equity prices, is firmly rooted in the company’s real value.”

SMT Software is a innovative software house specialized in designing and developing applications for business and providing IT staff outsourcing services. At present the company employs more than 200 specialists and has 5 branches in Poland and one in the Netherlands.

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