In preliminary results for the third quarter of 2004, Neckarsalum, Germany-based TDS announced a post-tax loss of 1.7 million euros ($2.2 million) on revenue that grew 17.5% to 24.9 million euros ($31.6 million). On a brighter note, the company’s order intake for the first three quarters of 2004 currently stands at 90.9 million euros ($115.5 million), nearly twice as much as last year’s figure of 46.9 million euros ($59.6 million)
TDS said its third-quarter figures were impacted by one-off costs associated with the management buy-out of its wholly owned subsidiary TDS Belgium NV, and the sale of its Systems Integration and Development Division to XpectIT GmbH.
In August 2003, TDS was taken over by private equity firm General Atlantic Partners LLC in a deal valued at 16.9 million euros ($21.5 million). The subsequent capital investment enabled TDS to build its own HR outsourcing practice, beginning with the acquisition of German HR services company BFD AG in December 2003.
