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Hansen lifts FY11 forecast

Hansen lifts FY11 forecast

Billing software company Hansen Technologies (ASX:HSN) has upgraded its forecast for FY11, and is now expecting a pre-tax profit of around $17 million.

The result if achieved would be a 20% improvement on the previous year. Hansen is also forecasting a 13% increase in ebitda to $19.5 million.

CEO Andrew Hansen said the company's international revenues had been impacted by the strong Australian dollar, but that it had been able to curtail the overall impact on operating performance.

He added that a number of factors could influence the actual performance for the quarter, but that “we are confident in forecasting a profitability for this fiscal year that will materially exceed the prior year.”

The company will publish its full-year report in August.

After tax, Hansen reported a profit for FY10 of $11.1 million, up 37% from the prior year. Operating revenue grew 6% to $57.8 million, and ebitda was up 20% from FY09.

Hansen Technologies provides billing and customer support software and smart metering solutions to the utilities and telecom industries.

The company also offers outsourcing and facilities management services out of facilities in Melbourne.

HSN shares grew 3.41% in Tuesday's trading to $0.910.

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