Data #3 earnings up 38 percent

National integrator Data #3 said it expected earnings (EBIT) of $7.6 million for its year ending June 30, up 38 percent from a year earlier.

The company expected revenue for the year to exceed $230 million, up from $196 million the year earlier. Revenue for the first half of 2006 was $112.8 million and EBIT was $3.4 million, the company said.

Speaking to CRN, John Grant, CEO at Data #3 said all divisions which include recruitment, enterprise infrastructure, licensing and IT services had performed well over the year.

Government departments, particularly in QLD and mid- to large- corporate organisations were the biggest buyers, he said.

Grant said Data #3 had also been looking at acquisitions but at its current growth rates, didn’t really need to acquire.

“Everything is highly priced. We have had conversations with a number of people but have concluded nothing,” he said. “It’s a fairly big [thing] to take on an acquisition and we are fairly fussy.”

Data #3’s board also announced it would conduct an on-market buy back of up to 10 percent of the company’s ordinary shares.

The buy-back would commence once the year-end reports have been finalised and dividend declared and will continue for a 12-month period, the company said.
The buy-back would commence once the year-end reports have been finalised and dividend declared and will continue for a 12-month period, the company said.

byron connollyfinancial servicesjohn grant