Another billion-dollar year for Fujitsu Australia

Fujitsu Australia has reported another billion dollar year despite a $95 million impairment eating away at the company's profits.

The IT services giant posted a $73 million loss for the year ending 31 March 2016, compared to a $19 million profit in 2015.

In a document lodged with corporate regulator ASIC, Fujitsu stated the fall was due to "an impairment of an intangible asset based upon an assessment of the present value of future cash flows compared to the carrying value."

A Fujitsu spokesperson said the impairment came from a revised assessment of the value of goodwill from acquisitions in prior financial periods.

Without the impairment, profit from trading activities was $30.1 million, just a small drop from $30.8 million in 2015.

Revenue, on the other hand, was up another $25 million to hit $1.12 billion.

The spokesperson said Fujitsu would continue to focus on both traditional IT like large outsourcing deals, and 'Fast IT', categorised as digital transformation and as-a-service solutions. He added that Fujitsu had increased its focus on asset, logistics and process management.

"Over the next 12 months we will be developing new solutions to bring to the market both in Australia and New Zealand, and will be working alongside existing and new customers to drive the digital world," the Fujitsu report read.

During the past 12 months, Fujitsu had a handful of its long-standing multi-million dollar government contracts pulled out from under it. This includes the Department of Foreign Affairs and Trade; worth $37 million, Horizon Power; worth $10 million, the Australian Electoral Commission; worth $7.4 million and the Clean Energy Regulator for $5 million.

It wasn't just doom and gloom for Fujitsu though. The company pointed to major wins with Australia Post, the City of Gold Coast, Link Group, TAFE Queensland and a "major national retailer".

Fujitsu was also tapped to develop the unified emergency services dispatch system for Tasmania Emergency Services and body-worn cameras for New South Wales Police.

In August, Fujitsu picked up an $8.5 million deal to supply Cisco equipment to NSW hospitals.

The company was named as one of the inaugural CRN MVPs in November, as one of two companies on the list that is both a solutions provider and a vendor.