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From the News Desk
Friday, 1. September 2006
Datacrafts Q2 Net Profit up Fivefold
Southeast Asia's computer data network builder Datacraft Asia Ltd. has posted a near-fivefold rise in quarterly net profit, helped by revenue growth, margin improvements and lower effective tax rate. Datacraft made a net profit of USD 10.3 million in its second quarter, compared with revised earnings of USD 2.1 million a year ago. Its quarterly revenue rose 7.2 percent to USD 116.9 million, while gross margins rose to 18.8 percent -- the highest level in 14 quarters -- compared with 16.8 percent a year ago.
"Our strategic and intense focus on quality business has yielded good results with margins achieving a new high of 18.8%, the highest in 14 quarters. This is largely driven by the margin improvements from our services business, as well as our continued success in winning multi-year annuity service contracts," said Bill Padfield, CEO of Datacraft.
The company said it had used USD 4.3 million to buy back 3.8 million of its own shares in the quarter and had set aside a total of USD 15 million for share buybacks in the current fiscal year.
"Our strategic and intense focus on quality business has yielded good results with margins achieving a new high of 18.8%, the highest in 14 quarters. This is largely driven by the margin improvements from our services business, as well as our continued success in winning multi-year annuity service contracts," said Bill Padfield, CEO of Datacraft.
The company said it had used USD 4.3 million to buy back 3.8 million of its own shares in the quarter and had set aside a total of USD 15 million for share buybacks in the current fiscal year.
