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2008Q3 results

ATM S.A. showed very good sales results in its quarterly statements for 2008Q3, with a revenue growth by 30% yty. For the first 9 months of the year, the growth was 25% yty. The net income for the 3 quarters was nearly PLN 3,451 thousand, compared to PLN 326 thousand in the previous year.

The consolidated results are somewhat worse, with a sales growth by 15%, but the net income of PLN 274 thousand was lower compared to the previous year (PLN 486 thousand). However, ATM shareholders’ net earnings improved by 73% yty. The company informed in the quarterly statements that the poor consolidated results were due to the loss on operations of the mPay group companies, which resulted in a decrease of the consolidated net income for 3 quarters by PLN 4,888 thousand. Nevertheless, the company maintains that these are acceptable results for a company whose task is to launch a new solution for mobile payments (via a mobile phone).

The company reminds that traditionally, most revenues and almost the entire yearly profit are attained in the last quarter of each year (for example, 49.8% of the total revenues in the previous year) and this pattern is likely to be repeated this year.

ATM S.A. pays particular attention to expanding its offer for the financial sector, where it has won new important customers of telecommunications outsourcing services, in particular collocation and data-protection services. ATM S.A. sees also a high potential in the growing sales of its own software, mainly the Atmosfera software suite and ATM InternetTV. Other significant successes of the company include a growth of sales of Cisco Systems solutions by more than 250% yty, in result of which ATM is now increasingly recognized as a strong Cisco partner in Poland.

The company emphasizes also the increasing significance of revenues from permanent telecommunications and maintenance contracts that already cover ca. 70% of the company costs. It is of critical importance in the context of a possible slump, because even if IT investments are temporarily cut, such permanent contracts are continued.

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