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UPDATED: Data#3 reduced staff by 11% in FY2012; contractor base down by 32%

UPDATED: Data#3 reduced staff by 11% in FY2012; contractor base down by 32%

The company recorded redundancies in the second half in response to market outlook

ICT services provider, Data#3 (ASX:DTL), reduced its staff count by 11 per cent including a reduction in contractor base by 32 per cent in FY 2012, according to the company’s annual general meeting address filed with the Australian Stock Exchange.

The company ended the year with 900 staff, with 648 permanent, 34 casual and 240 contractors in its People Solutions Business, according to the address by Data#3 managing director, John Grant.

The company reduced the number of roles in the second half in response to market outlook, he said.

“This saw a number of people leave the business under redundancy conditions for only the second time in our history,” Grant said in the address.

And although company's overall employee count was down, its share of permanent staff was up from 638 to 648, increasing the revenues from permanent employees, Grant noted.

Data#3 uses a combination of permanent and contract workers. During the financial year, the company had to scale back in certain areas to tackle project-related work, he said.

The company could potentially see further declines in contractor numbers but sees overall a good first half, according to Grant.

In the AGM address, he noted the company’s top line growth of 16.3 per cent to $811.4 million. Its licensing solutions business saw the most growth at 35 per cent to $483 million.

Its product revenue was up 17.5 per cent and services up 9.7 per cent. Its balance sheet remained strong with assets increasing to $32.5 million at end of June 30, 2012 compared to $30.2 million in the previous year.

"The 2012 financial year saw continued difficult economic conditions that have now been with us for far longer than ever previously experienced by the company. Even in this context, the 2012 results are second only to the previous year," Data#3 chairman, Richard Anderson, said in the address.

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