In the 12 months to December 31, 2002, the Voorburg, Netherlands-based company’s net profit fell 79% to 5.1m euros ($5.5m) on revenue that grew by just 0.5% to 816.1m euros ($879.2m). The bottom line was affected by 5.9m euros ($6.3m) in restructuring costs. Pink Roccade’s cash flow from operational activities fell 2% to 73.4m euros ($78.7m), with its debt position reduced by 35% to 142m euros ($152m).
The company said that sales to clients in the financial services sector fell over the year, and would remain slow in 2003. Interestingly, it also said its public sector business suffered from postponed deals and increased competition in 2002, but said that sales to healthcare organizations grew 48% to 40m euros ($43m).
Source: Computerwire
