Revenues from services and consulting increased by 17.6% to $16.7m
Emtec, a provider of information technology (IT) services and products has reported revenues of $76.9m for the first quarter of fiscal year 2011, an increase of 4.5% compared to $73.6m for the previous fiscal year.
Revenues from services and consulting increased by 17.6% to $16.7m; procurement services revenue increased marginally to $60.2m.
For the first quarter ended November 30, 2010, the company’s operating income decreased by 41.5% to $1.5m compared to an operating income of $2.5m in the same quarter fiscal year 2010.
Net income for the first quarter of fiscal 2011 decreased to $0.73m, compared to a net income of $1.4m in the previous fiscal year 2010.
Emtec chairman, president and CEO Dinesh Desai said the overall gross profit was flat compared to the same quarter last year, and added that the 17.6% growth in the company’s services and consulting revenue was a positive sign.