November 27 2001
Intec Telecom Systems PLC (LSE:ITL, "Intec" or "the Company"), a leading global provider of Operations Support Systems software for telecoms companies, today announces its audited results for the year ended 30 September 2001. The Company is pleased to report turnover growth of almost 100% and EBITDA profitability in excess of market consensus.
FINANCIAL AND OPERATING HIGHLIGHTS
- Revenues for the year ended 30 September 2001 increased by 96% to £39.8 million (year ended 30 September 2000: £20.3million)
- Earnings before interest, tax, depreciation, and amortisation ("EBITDA") of £3.4m (year ended 30 September 2000: £4.5m)
- Operating loss of £140.0 million largely attributable to goodwill impairment in acquisitions
- Customer base increased by 66 contracted installations, with major new wins in the UK, US, Europe, Latin America, and the Far East
- Global expansion continues as planned, with new offices in South America, Asia-Pacific, India and Middle-East
- Four acquisitions concluded and integrated during the year, in the US, UK and Malaysia
- Several new products introduced to complement core billing and mediation families
- Growing order book for 2002
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