Order delays hamper Comptel profit growth

14 May 2008

The delaying of certain European projects and a further weakening of the US dollar has hampered Comptel from registering net sales growth in the January-March period, with overall order intake for the quarter not meeting the company's expectations.

According to the company, net sales was exactly the same in the first quarter as in the same period last year at 19.5 million euros ($30.2 million).

Order backlog amounted to 33.1 million euros ($51.3 million), as compared with 29.7 million euros ($46 million) a year ago.

However, this order backlog also represented a good prospect of deliveries for this year. In the first quarter, Comptel closed significant deals in Europe and Asia Pacific, including a long-term agreement with IBM India for license upgrades.

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