Finance: Comarch Reports 100% Growth in Third Quarter

19.11.2004, MForum.ru

Comarch, a global provider of innovative OSS/BSS solutions (Warsaw Stock Exchange: CMR), today announced financial results for Third Quarter ended September, 30th, 2004. Total revenue for fiscal Q3 FY3004 2004 went up by 100,5% to $27,5 million. From the beginning of the year Comarch revenues grew by 69% to $68,8 million USD.

“We are satisfied with third quarter results and remain optimistic about the future growth and progress of the company. From the strategic point of view, we are now focused on further establishment of Comarch as the leader of new technologies in Central and Eastern Europe where our brand is well recognized and we continue efforts to build our image and reputation in Western Europe and in the North America. More and more companies are interested in our IT solutions and we can see that as an IT company from Central Europe we are capable of delivering software that meets the most sophisticated needs of our customers” – says Professor Janusz Filipiak, the CEO and founder of Comarch.

Key Q3 FY2004 Highlights

• Total revenue was $27,5 million, up 100,5% compared to Q3 FY2003
• Net income $0,8 million, up 23 936% compared to Q3 FY 2003
• Comarch employed 100 new IT specialists: Current total employment 1328 people
• Awards and recognitions
o The New Economy Company of Central and Eastern Europe, CEE Economic Forum
o The best systems integrator of the decade, NetWorld, IDG Poland Publication
• IDC Published Comarch OSS/BSS Vendor Profile, Elizabeth Rainge October 2004
• Key New OSS/BSS customers: Switzerland, Panama and Poland (billing). Others: Russia (asset management), Russia and Turkey (Electronic Data Interchange)
• New software production centers opened in Lviev (Ukraine), Bratislava (Slovakia)

Key Q1-Q3 FY2004 Highlights

• Total revenue was $68,8 million, up 69% compared to Q1-Q3 FY2003
• Net income $2,5 million, compared to Q1-Q3 FY2004 loss $48k.
• Sales breakdown: Telecommunications (26%), Finance&Banking (17%), Trade, Industry and Services (26,8%), Public Administration (27,5%)
• Comarch started $24 million investment in the Krakow Technology Park (new headquarters)

Outlooks and Strategy for 2005

• Minimum 20% annual growth of the company and profitability growth by 50%
• Increase of productivity, the reinforcement of international subsidiaries
• Building the position of the leader of new technologies in Central and Eastern Europe

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