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Anittel posts $3 million loss in yearly results

Anittel posts $3 million loss in yearly results

Result is an improvement on fiscal 2013’s loss of $7.39 million

Peter Kazacos

Peter Kazacos

Anittel has posted a $3 million loss in its full year results after a year of transition to Cloud and infrastructure based services.

The result is an improvement on fiscal 2013’s loss of $7.39 million and was helped by a major Infrastructure-as-a-Service contract with the Tasmanian Government on September 16, 2013, to provide it with UC over an initial term of two years, with two subsequent one-year optional extensions.

The sale of its Anittel Communications business to Big Air for $6.5 million in January will also allow it to focus on growing demand for managed IT (MIT) and UC.

The company recorded revenue of $36 million, a fall of three per cent on the previous financial year.

This is primarily due to a decline in IT product sales and related services, offset partially by increase end point service deployment to the Tasmanian Government.

Gross profit margin from continuing operations improved to 46 per cent due to an increase in in recurring higher gross margin sales of Cloud services and improved margins on IT product sales.

The company also continues to increase the number of end point deployment of Anittel's Cloud-based, Cisco hosted, collaboration Solutions and IaaS offering to the Tasmanian Government.

The company's EBITDA for the financial year was in the red by $528,000. The IT Products and Services busines unit achieved earnings of $490,000, while the telecommunications services business unit lost more than $1 million.

Revenue for the telecommunications services business unit decreased by 35 per cent, which reflects the sale of Anittel Communications in January, according to the report.

Revenues for the IT products and services business unit were down seven per cent on the previous financial year, which management believes is a factor of market conditions and the decline of traditional hardware and software product sales and related services.

According to a company statement, Anittel continues to be focused on executing its strategy of developing and expanding its hosted Cloud offering in line with the rapidly developing market trend to Cloud based information and communications technology.

"Key focus areas will include the commercialisation of the Cisco Hosted Unified Communications offering, continuing to grow recurring service revenue and optimising internal processes and systems."

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Tags Cisco hosted collaboration SolutionsPeter Kazacosannual resultsTasmanian governmentAnittel

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