TXT e-solutions S.p.A. Announces Earnings Results for the Second Quarter and First Half Ended June 30, 2017; Provides Earnings Guidance for the Third Quarter of 2017; Announces Management Changes
August 02, 2017
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TXT e-solutions S.p.A. announced earnings results for the second quarter and first half ended June 30, 2017. For the first half, the company reported Revenue was 36.132 million against 33.183 million a year ago. EBITDA before stock options was 3.417 million against 3.314 million a year ago. EBITDA was 3.255 million against 3.314 million a year ago. Operating profit (EBIT) was 2.571 million against 2.782 million a year ago. Earnings before taxes (EBT) was 2.263 million against 2.624 million a year ago. Net profit was 1.567 million against 2.015 million a year ago. Diluted earnings per share was 0.13 against 0.17 a year ago. Cash flow generated by operations was 4,058,282 against 2,894,831 a year ago. Increase in tangible assets was 432,274 against 334,373 a year ago. Increase in intangible assets was 19,830 against 39,341 a year ago.
For the quarter, the company reported Revenue was 18.134 million against 18.773 million a year ago. EBITDA before stock options was 1.840 million against 1.900 million a year ago. EBITDA was 1.759 million against 1.900 million a year ago. Operating profit (EBIT) was 1.419 million against 1.568 million a year ago. Earnings before taxes (EBT) was 1.326 million against 1.496 million a year ago. Net profit was 0.959 million against 1.132 million a year ago.
The company foresees in the third quarter of 2017 a positive development of revenues and profits for both divisions.
The board of directors announced that Andrea Lanciani has appointed as non-executive director, replacing Andrea Casanova who has resigned on August 3, 2017. Andrea Lanciani graduated in Law in 1989, cum laude and honour of publication of the thesis. A member of Turin Bar, Andrea Lanciani's professional experience is in commercial law, with specific regard to banking, finance, corporate law and public companies.
TXT e-solutions SpA is an Italy-based company engaged in the information and communication technologies (ICT) market. It provides software and services-based solutions to enterprises. The Company structures its business into two main segments: TXT Perform and TXT Next. In the TXT Perform segment, it designs and develops software and IT solutions for fashion and luxury, specialty retail, consumer packaged goods (CPG) and discrete manufacturing sector. Through the TXT Next segment, the Company offers system integration and IT services to such sector as aerospace and defense, high-tech manufacturing, and banking and finance. It operates through subsidiaries: TXT e-solutions Ltd, the United Kingdom; TXT e-solutions GmbH, Germany; TXT e-solutions SL, Spain; TXT e-solutions Sarl, France; Maple Lake Ltd, Canada and Maple Lake Australia Pty Ltd, Australia amd PACE Aerospace Engineering and Information Technology GmbH.
TXT e-solutions S.p.A. Announces Earnings Results for the Second Quarter and First Half Ended June 30, 2017; Provides Earnings Guidance for the Third Quarter of 2017; Announces Management Changes