Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

Anittel ups ebitda loss forecast to $1.9m

IT and telecom company Anittel (ASX:AYG) is now expecting a $1.9m ebitda loss for FY11, and has shaved $3m from its revenue expectations

IT and telecom service provider Anittel (ASX:AYG) has increased the forecast for its FY11 ebitda loss by close to $1 million.

The company is now expecting to report an an ebitda loss of around $1.9 million for the financial year, once auditor PricewaterhouseCoopers completes its review.

Revenue is also expected to be around $3 million below the previous forecast, at $59.5 million.

Anittel said that operational reviews launched after the company's half-year update had lead to management changes and resulting restructuring costs of around $330,000. The company incurred further abnormal costs of around $240,000 for the year.

Anittel was listed when the company then known as Hostech, which bought a service provider called Anittel for $2.5 million early last year, took on the new name in November.

Five other telecom companies, including Accord and Aspirence, had been acquired to create the new entity.

As Hostech, the company recorded an FY10 loss of $1.7 million, and 310% revenue growth of $21.8 million.

AYG shares fell 14.29% to $0.006 in Tuesday's trading.

Recommended

  1. Echo Entertainment Group gambles on big data

  2. Making friends with your COO

  3. CIO roundtable: Staying in control in the cloud

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: PricewaterhouseCoopers
References show all
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: Anittel, financial results
Latest Blog Posts
Whitepapers
  • Russian Underground 101
    This research paper intends to provide a brief summary of the cybercriminal underground and shed light on the basic types of hacker activity in Russia. It discusses fundamental concepts that Russian hackers follow and the information they share with their peers. It also examines prices charged for various types of services, along with how prevalent the given services are in advertisements. The primary features of each type of activity and examples of associated service offerings are discussed as well. Read this paper.
    Learn more »
  • Securing the Road to Virtualization and Beyond
    Traditional security controls for enterprise don’t necessarily translate into the new world of virtualisation and cloud environments. When mapping out a secure virtualisation roadmap, click to find out about pave a more secure, risk free path.
    Learn more »
  • Maximising productivity without sacrificing security
    Advances in mobility and client computing technology combined with the ubiquity of the Internet and social media are creating a culture and desire for constant connectivity and anywhere access to information. As these trends extend from the home into the work place, IT managers should consider seriously the opportunities for increased productivity and communication with customers and constituents, as well as understand the increased security risks posed by online, anytime access to private networks and data. Read more.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Recent comments