BRISBANE, Tuesday 10th November 2009. The Board of Directors of Data#3 Limited (ASX:DTL) today announced at the Annual General Meeting that the company is on track to improve its first half financial performance over the outstanding FY08/09 result.
Chairman Richard Anderson confirmed that the first quarter result was on plan and the forecast for the half year is expected to better the previous first half result. “We are continuing to experience restraint in customer investment and higher levels of market competition and these are materialising as pressure on pricing and margins. However, we have a diversified business with much of our revenue under contract and our objectives for the 2010 financial year remain to gain marketshare, continue to build sustainable profitability through appropriate investments and to improve on the record performance of 2009,” he said.
Managing Director John Grant commented that the company had made a good start to the year with tender win rates improving over 2009. “Significant contracts have been secured in managed services for McWilliams Wines, NAB Wholesale and NBNCo; in the Victorian Government’s procurement panels for personal computing systems and services; in Microsoft software licensing for the South Australian Government; and in integrated technology projects for the Queensland Government’s hosted email and archiving solution,” he said. He also indicated there will be a significant bias in revenue to the first half as the Federal Government Microsoft licensing contract was billed in the current half compared to the second half last year. “So shareholders should expect an increase in first half revenue of approximately 40% over the pcp followed by a relative decline in the second half. Earnings will not be affected materially by this bias,” he said.
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