STOCKHOLM, Sweden, Oct. 29, 2004 (PRIMEZONE) -- ProAct IT Group:
INTERIM REPORT January - September 2004 Stable service revenue despite a weak market Stable service revenue and lower overhead characterized the third quarter. Continued restraint in the marketplace resulted in lower systems revenue than planned. Third quarter summary - Revenues amounted to MSEK 177.2 (128.2), of which service revenue was MSEK 94.3 (75.3). - The operating result before amortization of goodwill (EBITA) amounted to MSEK -0.6 (-4.1). - The net result was MSEK -4.9 (-7.2). - Liquid funds amounted to MSEK 70.3 (117.9) at the end of the period. - The number of employees was 363 (272) at the end of the period. January - September in summary - Revenues amounted to MSEK 582.2 (485.9), of which service revenue was MSEK 299.6 (250.6). - The adjusted operating result before amortization of goodwill (EBITA) was MSEK -11,7 (-19.3). Costs for action programs meant additional charges against earnings of MSEK -39.8 (-9.5). - The net result was MSEK -67.4 (-33.7). - Earnings per share amounted to SEK -5.84 (-3.57) per share. Important events during the third quarter - A number of major transactions have been contracted with, among other, Boehringer Ingelheim, Com Hem, Hewlett-Packard, FMC, Lithuanian Radio and Television, Norsk Hydro, Statoil, Vattenfall and Alborg Sjukhus. - A new President and CEO is in the process of being recruited. - A nomination committee for election of directors in 2005 has been appointed. For further information, please contact: Henrik Holm, President, Telephone: +46-8-410 666 00 e-mail: itgroup@proact.se Address: Isafjordsgatan 35-37, Box 1205, SE-164 28 Kista, Sweden Org. No.: 556494-3446
About PROACT
PROACT is an independent information and technology specialist targeting companies and organizations for management of rapidly growing information volumes and mission-critical information. PROACT combines leading specialist know-how and technology with experience from about 1,500 customers in solutions for IT infrastructure that contributes to making the customer's day-to-day business more profitable.
The PROACT Group has 360 employees and conducts business in Denmark, Finland, Latvia, Lithuania, Norway, Sweden and Switzerland. ProAct wasfounded in 1994. The Parent Company, PROACT IT Group AB, on the O-listof Stockholmsborsen, the Stockholm stock exchange, under the symbol PACTsince 1999.
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http://www.waymaker.net/bitonline/2004/10/29/20041029BIT00090/wkr0001.pdf