itX looks to exceed earnings by 20 per cent

itX looks to exceed earnings by 20 per cent

ASX-listed distributor expecting a significantly increased net profit for the half year ending December

The beginning of the 2010 financial year has been a strong one for ASX-listed distributor, itX (ASX: ITX).

In an ASX release, the company announced it expected first-half results to exceed earnings during the first half-year of last year by 20 per cent. Last financial year, they stood at $2.83 million. Given December is traditionally a strong sales month, itX directors are anticipating a $3.4m profit this year.

itX managing director, Laurie Sellers, cited strong upturn in demand for both software and hardware products. He also attributed its performance to tight cost control and management.

“We’ve also had a good run with the acquisition of Briell Marketing and a good order for security cards,” he said.

“We never really saw the market take a big dive in Australia compared to other parts of the world,” Sellers said. “Hardware orders did slow down a little, but we’ve seen a strong upturn this year as the backlog of hardware purchases starts up again.

“There are still a lot of projects around software being undertaken, especially around improving productivity. Virtualisation has been a boon for the industry.”

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