Itautec's Q3 profits up 18% year-over-year, to US$5.1mn

Monday, November 7, 2011

Brazilian PC manufacturer Itautec posted net profits of 9mn reais (US$5.1mn) in the third quarter of 2011, up 18% from the year-ago period, the company reported on its website.

Revenues were also up, reaching 384mn reais in Q3, a 5.7% increase from last year's 363mn reais.

In the first nine months of the year, Itautec's revenues were 1.07bn reais, down 6.9% from 1.15bn reais reported in the year-ago period. The company credited the decrease to "lower activity registered by Itautec's automation segment in 1H11."

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"Despite the overall decrease in consolidated net revenues, structural actions aimed at improving operational efficiency and implemented over the year, and higher profit margins in the computing segment compared to the previous year contributed to the improvement of overall profit margin," the company said.

Ebitda rose 9% year-on-year to 16.1mn reais. Ebitda margin, in turn, inched up one percentage point, to 4.2%.

Itautec provides ATMs, self-service checkout stations, interactive touch screen kiosks, retail and banking software, PCs, monitors, laptop computers, servers and network equipment.