Sonda reports US$20.6mn net income during 2Q11

Tuesday, July 26, 2011

Chilean IT systems integrator Sonda's Q2 net income surged 9.4% year-on-year to 9.63bn pesos (US$20.6mn), compared to the 8.80bn-peso bottom line seen in 2Q10, the company said in a statement.

Revenues for the quarter were 132bn pesos, an 18.4% increase when compared to 112bn pesos from the same period in 2010.

For the first half of the year, net income increased 17.3% to 21.6bn pesos from 18.4bn pesos in the same period last year. Revenues were up 29.6% year-over-year to 259bn pesos.

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Regarding first-half revenue breakdown by business line, the IT services business contributed with 55.7% of consolidated revenues, while the platforms business generated 33.8% and applications services provided the remaining 10.5%.

In Chile, revenues reached US$220mn during the first six months of the year, up 10.0% year-over-year, attributed mainly to a 17.5% increase in revenues from the platforms business.

During the first half of the year, operations outside of Chile generated revenues of US$333mn, contributing 60.2% of consolidated revenues and growing 46.8% year-over-year.

In Mexico, revenues jumped 181% to US$66mn, also attributed to increased activity in the platforms business. And in Brazil, revenues hit US$214mn in the first six months of the year, increasing 34.5% year-on-year due to an expansion in IT services revenues.

Revenues in other countries in Latin America - which includes Argentina, Colombia, Costa Rica, Ecuador, Peru and Uruguay - soared 20.1% in the first half of 2011.

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