Anittel reports $5.9 million half year loss

Anittel reports $5.9 million half year loss

Blames drop in hardware and software product sales, changing in its Microsoft licensing status and the move towards cloud computing

Anittel Group (ASX:AYG) has reported a net loss of $5.9 million for its half year ending December 31, 2012 following a 31.5 per cent dive in hardware and software product sales over the period.

The IT services company also blamed changes in its Microsoft licensing status and “general market conditions towards cloud computing” for the loss.

The loss includes a charge for goodwill impairment of $5 million taken against its IT product and services business. The company’s EBITDA was $123,000 for the period.

Anittel also had cash outflows of $2.3 million over the period from hardware and software payments, capital costs relating to investments in an IP telephony platform in Tasmania and a communications network upgrade.

Services revenue increased by 8.7 per cent, boosted by a 184 per cent increase in cloud services revenue.

Anittel said it would continue to invest providing cloud services and during the half year the company had upgrade its hosted unified communications platform.

“This is the platform that is being used for our Tasmanian government deployment of hosted IP telephony,” Anittel said.

The company said it has $1.5 million in the bank.

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Tags ip telephonytasmaniaAnittel GroupMicrosoft licensing

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