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February 25, 2009

Colt Telecom Q4 profit dips 17% to $14m

The company reported an 83% increase in net income compared to year-ago

By CBR Staff Writer

Colt Telecom has reported a 17% decline in net income to E11.2m ($14.47m) for the fourth quarter 2008, compared to net income of E13.5m ($17.44m) in the year-ago quarter, on revenue up 1% at E427.5m ($552.46m).

Operating income grew 20% to E21.2m ($27.39m), while diluted EPS remained flat at E0.02 ($0.02). EBITDA increased 9.5% to E78.6m ($101.57m), while free cash inflow increased to E23.5m ($30.36m) compared to E18.4m ($23.77m) in the same period last year.

The company said data revenue grew 7.5% to E237.4m ($306.79m), and voice revenue fell 7% to E190. ($245.67m). Major enterprise revenue grew 2% to E177.7m ($229.64m), SME revenue fell 3% to E116m ($149.9m), and wholesale revenue fell 2% to E133.8m ($172.9m).

For fiscal 2008, the company reported an 83% increase in net income to E71.9m ($92.9m) compared to net income of E39.2m ($50.65m) a year ago, on revenue almost flat at E1.67 billion ($2.15 billion). Operating profit grew 69% to E93.3m ($120.57m), while diluted EPS grew 83% to E0.11 ($0.14).

The company also announced its intention to raise E201m ($259.75m) before expenses through new equity offer.

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