Telvent, an IT company, has reported revenue of E406.6 million for the first nine months of 2007, an increase of 22.8% compared to E331.2 million for the first nine months of 2006.
Net income for the period was E12.3 million, an increase of 17% versus E10.5 million in the first nine months of 2006. Diluted earnings per share (EPS) for the first nine months of 2007 was E0.42 compared to E0.36 in the same period in 2006.
Revenues for the third quarter ended September 30, 2007 stood at E128.6 million compared to E129.2 million in the third quarter of 2006. Net income for the third quarter of 2007 was E3.6 million compared to E3.9 million in the third quarter of 2006. Diluted EPS for the third quarter of 2007 were E0.12, compared to E0.13 in the third quarter of 2006.
Manuel Sanchez, chairman and CEO of Telvent, said: The strength and momentum of our business have been reflected in the results for the first nine months in 2007. We continued to execute our strategic plan, which has driven improvements in margins and profits. We also expect to have very good visibility for the rest of fiscal 2007, given our strong bookings and backlog.