For the year, Italtel earned €14.1 million on revenues of €546.1 million, which represents a 2.9 percent increase in income on mostly flat revenue. When converted to dollars, earnings jumped over 13 percent due to the euro's increased strength against the dollar.
Table 1: Italtel's Earnings Growth
|Note that the USD fell against the EUR from 1.21 to 1.32 over the past year.|
Thanks to more VOIP deployments worldwide, Italtel enjoyed a 26.8 percent increase in revenue from its international business due to an increased expansion into emerging markets like the Middle East and Eastern Europe. The company boasts a 21 percent market share in the EMEA softswitch market.
On top of a strong overseas performance, Italtel also further strengthened its domestic business with a better than 50 percent increase in revenues from large enterprises and the public sector.
While the financial numbers by themselves are not mind blowing, Italtel has positioned itself nicely in several potential highgrowth areas. This, combined with the company's financial debt decreasing from €322.2 million to €274.5 million, puts it in a strong position to go public, which it still hasn't done for some odd reason. (See Italtel Cleared for IPO and Italtel Confirms IPO Plan.)
— Raymond McConville, Reporter, Light Reading