Data#3 climbing out of slump

Data#3 climbing out of slump

ASX listed IT Services company Data#3 has recorded a $4.262 million loss for the 12 months to June 2001 in a year of ups and downs for the integrator.

Blaming a slump in IT spending and the distraction of the GST and the Olympic games for the result, the company recorded flat revenue growth - reporting $127.1 million, down from $130.7 million in the previous year.

Data#3 expects to turn the result around after some strong signs of growth toward the end of the reporting period. The last six months of the financial year saw an EBITDA (earnings before interest, tax, depreciation and amortisation) profit of $1.295 million.

"While there is still a way to go, the return to profitability in the second half is pleasing," said chief executive officer John Grant, in a company statement.

"We've made some hard decisions that have particularly reduced costs and balanced this with appropriate levels of investment. We have the confidence that our efforts are starting to pay off," he said.

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