Menu
Menu
iSOFT profit slumps 53% in 1H10

iSOFT profit slumps 53% in 1H10

Health IT company iSOFT (ASX:ISF) has reported a 53% decline in net profit for 1H10, due to forex losses and a slowdown in public sector IT spending in certain markets.

The company earned a net profit of $4.8 million, on 14% lower revenue of $237.3 million.

Public sector IT spending had slowed down in Australia, the Middle East and Africa, market segments which contribute a combined 18% of iSOFT’s earnings.

But iSOFT said each of its core units performed as expected or better when measured in local currency terms.

The company added that it expects revenue growth of between 6-10% on a constant currency basis for the whole of FY10.

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

Join the newsletter!

Error: Please check your email address.

Tags ICTfinancial resultse-healthiSOFT

Show Comments

Market Place