CRN Fast50 winner Anittel has reported first quarter 2012 results in line with CEO Peter Kazacos’ prediction the company would be “back in the black” this year following a difficult 12 months.
Anittel posted earnings before tax of $152,000 for the quarter, a far cry from $938,000 loss before tax that it reported the previous corresponding period to December 2010.
The company still suffered a net loss after tax of $841,000 for the first quarter of 2012, though it was a 93 percent improvement from losses suffered in Q1 2011.
Anittel’s full-year net loss in 2011 sat at $19 million.
Recurring revenue grew 10 percent to $9.7 million compared to the same quarter in 2011.
Cash in the bank also grew from $1 million to $3.6 million, while operating costs dropped 10 percent to $11.3 million for the quarter.
The company revealed it had paid $50,000 for the September acquisition of IBM integrator Future Townsville.
Kazacos told CRN in September last year that despite problems related to the absorption of recent acquisitions heavily affecting last year’s financial outcome, Anittel would continue to acquire companies in regional Australia to grow its national presence, especially for the delivery of commercial telecommunications services to compete with Telstra.
Anittel forecast earnings before tax for the full year 2012 to be in excess of $500,000.
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