Ideas International Anticipates Big Lift in Half-Year Profits for 2010
Sydney, Australia – May 14, 2010
Ideas International (ASX:IDE), the leading global supplier of actionable comparative intelligence on enterprise IT infrastructure, today released expectations for its 2010 half-year performance. Based on expected sales and completing work in progress before the half-year, IDEAS anticipates a profit after tax of between $600,000 and $750,000 for the six months ending 30th June 2010 and an increase in revenues of 10-15%.
“We are expecting an improvement in profit after tax of between 50% and 80% over the $407,244 from the corresponding period last year,” said Stephen Bowhill, CEO. “Our continued improved profit performance is very pleasing when considering the backdrop of the strengthening Australian dollar against both the US dollar and the UK pound: the average exchange rate this year is over 25% higher for both currencies compared to the equivalent period in 2009. Our good performance has benefited from an improving global economy. This improvement is beneficial to our vendor and end-user clients and our revenues are climbing through an increased use of our services in both market sectors: vendor and end-user clients save both time and money in their processes around selection of hardware or understanding the competition among vendors through using our online tools”.
“We are particularly pleased to see the growth in our end-user business where our services are used to help analyse server consolidation scenarios using the RPE2 metric or they are used to ‘green’ their company’s IT infrastructure. During the previous 12 months we have added nearly 20 new direct contracts for our services including adding two of the top five banks in Australia to our portfolio”.
“At this point in time, we cannot accurately forecast our full-year result due to the volatile Australian dollar and its potential impact on future revenues. We are however, confident in our value proposition and are seeing healthy interest in our services from vendors, their business partners and end users. We continue to invest in our people to ensure continuing and improving innovative services for each segment of our client base and we are growing headcounts in the USA and in Australia.”
About Ideas International (IDEAS)
IDEAS is the leading global supplier of comparative intelligence on enterprise IT infrastructure. Servicing both IT vendors and large-scale IT users, IDEAS products focus on: servers; storage; virtualization and consolidation; and software and infrastructure services. IDEAS online products are backed by expert industry analysts who can also deliver specialized advisory and consulting services.
Media Contact
Spectrum
Communications:
Richelle Gillett and Katie Judge
+61
2 9954 3299
ideas@spectrumcomms.com.au
Forward-Looking Statements:
This press release contains forward-looking statements including expectations of the 2010 half-year fiscal performance and profit after tax improvements for Ideas International Limited that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Any statement not a statement of historical fact is a forward-looking statement, including without limitation statements concerning demand for and benefits of Ideas International products and integration of its products with existing solutions. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Ideas International takes no responsibility to update any forward-looking statements.
