Data#3 records healthy full year results

In a statement to the ASX, the integrator said revenues in excess of $280 million and EBIT of approximately $9.9 million are predicted for the year ended 30 June 2007, (although this is subject to year-end audit)and is up 27 percent on the previous year.

Revenues for the 2006 financial year were $239.6 million, and EBIT was $7.8 million, while revenues for the first half of 2007 were $135.8 million, and EBIT was $4.1 million.

John Grant managing director at Data #3 said the second half performance had more than met expectations.

“In a market which remains strong but competitive and in which there is considerable pressure on costs this result is exceptional and testimony to the investments we have made in developing market-leading expertise, the strong relationships we have maintained with our customers and suppliers, and the commitment of our people,” said Grant.

The Board intends to announce the audited full year results and the final dividend on 22 August 2007 and its intention to extend the on-market buy-back (of up to 10 percent of the company’s ordinary shares) for a further 12 month period, commencing 1 September 2007.

The on-market buy-back was introduced on 1st September 2006. To-date 44,115 shares have been purchased under the on-market buy-back, and have been cancelled.

“We are satisfied that the buy-back has helped achieve the objective of delivering improved shareholder return on a sustainable basis and reducing volatility in the company’s share price and the decision to extend it will maintain this position,” said Richard Anderson, chairman at Data #3. “We also intend to maintain our established dividend payment practice.”