TNE 4.62% $7.85 technology one limited

Technology One results on Monday

  1. 4,886 Posts.
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    TNE results are due on Monday. Last chance to get in if you think the market will like the result (which I do). Interestingly that they haven't commenced their share buyback, does anyone know whether share holders need to approve this or perhaps they are waiting for the results to come out. TNE Shares are currently 45 cents.

    TECHNOLOGY ONE LIMITED 2002-07-04 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    TECHNOLOGY ONE TODAY MAKES THE FOLLOWING ANNOUNCEMENT, HAVING
    COMPLETED A PRELIMINARY ANALYSIS OF ITS RESULTS FOR THE YEAR ENDED 30
    JUNE 2002:

    The 2002 year will be a record year for Revenue, with the preliminary
    estimate of Revenue growth now expected to be between 15% to 20% over
    the prior year.

    The 2002 year will also be a record year for Profit, with the
    preliminary estimate of Net Profit After Tax (NPAT) growth, now
    expected to be between 10% to 15% over the prior year.

    Until completion of the financial audit, the company is not in a
    position to provide any further financial information. Technology
    One's CEO, Mr Adrian Di Marco said today's announcement is made to
    keep the market fully informed, now that the trading results for the
    year have undergone preliminary analysis. The exact position will not
    be known until completion of the company's audited results, which
    will be released to the market on Monday 2nd September 2002.

    Mr Di Marco said Technology One did experience a strong April, May
    and June period, but unfortunately a number of deals could not be
    finalized before June 30 th , contrary to prior expectations. As such
    the associated revenue for these deals will move into the 2003
    financial year.

    Mr Di Marco said that strong revenue growth could not be fully
    converted into a similar level of profit growth by June 30th ,
    because the company had made substantial investments in the 2002
    financial year that included:

    * Additional 100 new staff

    * New ACT office

    * Continued aggressive R&D program

    These previously committed costs were, in the end, not matched by the
    level of planned revenue, due to the deferral of business into the
    new financial year.

    Mr Di Marco said the company expected continuing growth for the new
    financial year. Given current market conditions, the company has set
    a less aggressive growth target for the 2003 year compared to
    previous years, and has budgeted costs correspondingly, so that
    planned top line growth can be more reliably converted into similar
    levels of profit growth. The company expects NPAT growth of between
    10% to 20% for the 2003 financial year.
 
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