ASSEMBLERS
12.04.10 - 24.04.10
Cibox Lintec
Transtec Olidata
Optimus RM (£)
Price (4) % month change
Mkt cap 4m
Basware grows internationally
P/E ratio
0.16 0.02
1.18 0.44 0.31 2.06
23 -4
6 -8
-12 5
16 0
4 15 9 192 12
Finland-based Basware, provider of purchase-to-pay solutions, says it had a successful first quarter with €23m in net sales. Despite the continued challenging economic environment, net sales increased by 6.5% compared with Q1 2009. Operating profit continued to remain strong at €2m, representing 9.2% of net sales. Basware performed well in all of its markets, with international operations accounting for 53.8%, a growth of 9.2%. Regionally, the fastest growth was seen in the North American business, with net sales increasing by more than 50% in local currencies. Net sales are expected to develop positively in 2010 on the level of 2009 and operating profit (EBIT) is expected to represent 10% to 15% of net sales, it says.
DISTRIBUTORS
12.04.10 - 24.04.10
Groupe Open Computerlinks MuM
Esprinet IT Way Datatec Scribona ALSO Arena
Price (4) % month change
7.45 19.5 3.5
7.88 3.5
3.58 0.91 32.1
0.03
12 0 3
-3 -4 9 0 0
-11
Mkt cap 4m
73 141 51
413 15
653 72
194 41
P/E ratio
“The first quarter of the year was a success despite the continued challenging market conditions,” comments CEO Ilkka Sihvo. “Connectivity Services, Software as a Service operations and License Sales in particular performed well. The performance in the first quarter provides a good starting point for the rest of the year.” Connectivity services and Software as a Service operations rose 47.4%, consulting up 21.8%, and maintenance functions up 24.4%. Basware Connectivity Services, which were launched at the beginning of 2009, have since been enhanced, with the service now including solutions for both senders and recipients of e-invoices, as well as a supplier activation service.
15 13 12 2 19
French-headquartered software services group Atos Origin said it sees organic sales growth returning in the second half thanks to an increase in orders driven by a recovery in technology spending from businesses. The group aims to improve profitability and to post a “slight” decrease in organic sales after reporting a 5.5% drop in like-for-like first-quarter sales. Atos’s strong growth in first-quarter orders and a rise in the book-to-bill ratio -- a key measure tracking order intake -- were encouraging, analysts said. The drop in revenues, meanwhile, was largely expected, they said. “Our level of order intake is going in the right direction in principle,” Atos Chief Financial Officer Michel-Alain Proch said. Atos Origin, which competes with Accenture and Capgemini, said order intake in the first quarter rose 17% like-for-like to €1.6bn.
Northamber (£) Anixter
Arrow ($) Avnet
Bell Micro
Ingram Micro Tech Data
0.58 38.40
24.25 5.26 13.81
32.62
0 9
10 33 2
-4 17 1292
3679 170
2284 1679
34 30 15 12
Source: Thomson Financial Datastream
26
The ALSO Group increased quarterly net sales by 2% (4% in local currencies) to CHF1,069m compared with the same period last year and made a substantially higher net profit of CHF 6.6m (2009: CHF 4.7m). As things stand today, ALSO is expecting – excluding unforeseeable circumstances – a considerably improved result in 2010 compared with 2009. In Europe, the economic recovery that set in at the end of 2009 continued. In the first quarter of 2010, IT industry sales in most European PC markets showed their first slight increase in a long time, it says. The market recovery was due primarily to higher demand from corporate users; private consumption remained pegged at the same level as last year. In
30 APR 2010
62
Shrinking Sony Ericsson reported a slight net profit for the first quarter after several loss-making quarters, helped by new products and higher margins following previous staff cuts. The company reported a net profit for the three months to March 31 of €21m, compared with a €293m net loss a year earlier. Analysts had expected a loss of about €130m. It says the turnaround is sustainable and that it expects to remain above break-even throughout the rest of 2010. The company wants to complete its restructuring program, which started in 2008 and includes around 4,000 job cuts, in the next quarter. By end- March, Sony Ericsson had cut 3,150 jobs under the programme, leaving its global workforce at 8,450. The company shipped 10.5 million phones at an average selling price of €134 in the first quarter, down from 14.5 million devices at an average selling price of €120 a year earlier. Net sales fell to €1.41bn from €1.74bn. Sony Ericsson’s estimated share of the global handset market fell one percentage point from the previous quarter to around 4%.
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