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March 3, 2009

Telvent Q4 pro forma net income up

Pro forma revenues were E254.4m

By CBR Staff Writer

Spanish IT firm Telvent has reported that pro forma net income was E19.6m, or E0.60 per share, for the fourth quarter of 2008, compared to E12.5m, or E0.43 per share, in the fourth quarter of 2007.

Pro forma net income for the fiscal year 2008 amounted to E37.5m, or E1.25 per share, compared to E29.8m, or E1.02 per share, for the fiscal year 2007.

Pro forma revenues for the fourth quarter of 2008 were E254.4m, an increase of 24.9% (12.9% organic), compared to E203.7m in the fourth quarter of 2007. Pro forma revenues for the fiscal year 2008 totaled E698.8m, a 17.5% increase from E594.8m for fiscal year 2007.

Manuel Sanchez, CEO of Telvent, said: I am pleased that we closed another year of undeniable good performance, with double-digit revenue growth and improved operating margins.

In addition, we have seen another strong fourth quarter in bookings and collections, increasing our backlog to unprecedented figures, which puts us in a very favorable and distinguished position to begin the year 2009. Our backlog and increasing pipeline of identified opportunities is particularly important this year, in light of the uncertain market conditions worldwide.

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