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Ideas International boosts full-year annual revenue by 66 per cent with associated EBITDA turnaround

  • 22 February, 2005 15:36

<p>SYDNEY, February 22, 2005 – Leading Australian-based global IT research firm, Ideas International Limited (ASX: IDE), today announced its full-year financial results for the period ending 31 December, 2004.</p>
<p>Ideas International reported annual revenue for the 2004 year of $7.27 million, which is an increase of 66 per cent when compared to $4.38 million for the equivalent calendar period in 2003.</p>
<p>The company reported Earnings Before Interest Tax Depreciation and Earnings (EBITDA) of $594,905 for 2004, which represents a $930,879 turnaround compared to the EBITDA loss of $335,974 for the equivalent calendar period in 2003.</p>
<p>The Net Loss After Tax reported for the company in 2004 was $742,283. This amount includes an amortization adjustment of capitalized new product development expenses of $985,389 (pre-tax). The after-tax loss for the prior year equivalent period was $498,387.</p>
<p>Commenting on the company’s 2004 results, Ideas International Managing Director, Mr. Ian Birks, said: “We are pleased with the improved operating conditions that our business has produced in the last 12 months. The EBITDA turnaround in 2004 defines a trend that we are confident will continue into 2005.”</p>
<p>Mr. Birks added: “While the one-time write-down of capitalized new product expenses has had a negative impact on our 2004 results, it will dramatically lessen the burden of amortization on future profits.”</p>
<p>Looking to the future, Mr. Birks stated that “Ideas International remains committed to growth strategies in 2005 with targeted increased investments in our global sales and research capability. Our clear differentiation as the leading global research firm for IT infrastructure analysis is reinforced by the recent release of our new product architecture and the strong reception it is receiving in the marketplace”.</p>
<p>About Ideas International</p>
<p>Ideas International Limited (IDEAS) was founded in Sydney, Australia in 1981 and listed on the Australian Stock Exchange in March 2001 (ASX:IDE). Today, the company is the leading global provider of comparative information for the analysis of features, performance and ownership costs of enterprise equipment used in IT infrastructure deployment.</p>
<p>The company has a strong worldwide research focus and has staffed offices located close to the business centres in Sydney, New York (USA) and Oxford (UK). In January of 2004 Ideas International acquired the US-based IT research firm, DH Brown Associates, Inc. thereby adding a powerful analyst capability to its established database delivery engine.</p>
<p>For further information or interviews / photos, please contact:</p>
<p>Ian Birks
Managing Director &amp; CEO
Ideas International Limited</p>
<p>Phone: + 61 (0) 2 9472 7702 (direct)
Mobile: + 61 (0) 408 64 11 22

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