Data#3 posts healthy financials

Data#3 posts healthy financials

Australian integrator Data#3 yesterday announced annual profits are up 15 per cent with total revenues coming in at over $133 million, an increase of over 100 per cent on the previous year.

Data#3 secured a net profit after tax of $2,562,000, up from $2,234,000 last year, with operating profits before interest, goodwill and tax at $4,290,000, up 27 per cent from $3,376,000 last year, the company reported.

The announcement follows the company's acquisition of CICtechnology in October 1998 which has contributed to the result.

Including CIC's contribution, product revenue rose 84 per cent and services revenue was up 134 per cent on the previous year.

John Grant, Data#3's managing director, said he was pleased with the result considering the work done to integrate the two companies.

"We met our acquisition objective of maintaining earnings per share [20.8 cents, compared with 20.2 cents last year] on the increased post-acquisition capital base, and expect the acquisition to impactpositively on our bottom line in the current financial year."

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