Communication vendor took a direct hit on the US sharemarket following less than impressive growth results despite doublingits profit for the First Fiscal Quarter of 2006.
The Q1 result (concluding December 31st) saw the company’s revenues grow 8.8per cent year on year, but for the equivalent period net profit increased from US$31 million to US$71 million.
However, the income of US$71 million for the first fiscal quarter of 2006 included US$13 million after-tax fillip from changes to its vacation policy and US$3 million expense from accounting changes. It also included revenues from the company’s acquisition of European call centre provider, Tenovis.
The results prompted some