Sonda reports full-year net profits of US$71.7mn

- Tuesday, January 25, 2011

Sonda reports full-year net profits of US$71.7mn

Chilean IT systems integrator Sonda posted net profits of US$71.7mn for 2010, according to the company's financial results.

Compared with 2009, Sonda's net profits grew 6.4%, but the company says earnings were affected by an agreement with Brazilian authorities to settle a dispute over territorial taxes. The settlement between the two parties resulted in a one-time charge of US$11.3mn for Sonda. According to Sonda, without the charge its net profits would have seen a 23% increase.

Consolidated revenues for 2010 hit a record of US$952mn, showing 19.1% growth over the previous year. Consolidated revenues for Q4 alone were US$285mn, up 34.8% year-on-year.

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According to Sonda, operations outside of Chile represented 55.3% of the company's total revenues in 2010 at US$526mn, a 27.7% increase over 2009. Specifically, operations in Brazil and Mexico reported revenues of US$351mn and US$81.1mn in 2010 for growth of 24.2% and 90.5%, respectively.

Sonda also highlighted the five acquisitions it completed during the year, namely Softeam, Tesinc and Kaizen in Brazil; NextiraOne in Mexico; and Ceitech in Argentina. The acquisitions represented investments of US$91.5mn.

The company reiterated its plan to invest US$500mn during 2010-12.

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