Itesoft SA Reports Audited Earnings Results for the Year 2016; Provides Earnings Guidance for the Year 2017
Itesoft SA reported audited earnings results for the year 2016. For the year, the company reported revenue was EUR 25.8 million against EUR 23.1 million a year ago. Operating .income was EUR 0.9 million against EUR 0.7 million a year ago. Financial loss was EUR 0.5 million against income of EUR 0.7 million a year ago. The Group share of net loss was EUR 0.2 million, compared to EUR 1.0 million in 2015, under the combined effect of non-cash considerations.
The company expects to see new growth for license sales in 2017, as well as for its recurring revenue, to achieve double-digit current operating margin over the period once again.