Pilat Media Post Q3 Profit as Revenues Increase 8.7%

Posted by Joe Zaller
Nov 30 2010

Broadcast business management vendor Pilat Media announced that its revenue for the third quarter of 2010 was £5.25m, an increase of 8.7% versus the same period a year ago, and down 5% from the previous quarter.

After tax profit for the quarter was £54,000 versus £574,000 during the third quarter of 2009.  The company attributed the lower profitability in the quarter to the impact of exchange rate movement and one-off set-up costs relating to new development center in Ukraine designed to lower future development costs.

Gross margins for the quarter were 52.7% compared to 50.2% during the same period a year ago.  The company says its margin improvement is due to a change in revenue mix and the beginning of the positive impact of the lower cost development centre in Kiev, and added that it expects gross margins for the full year to be higher than in 2009.

For the year to date, the company’s revenue was £15.67 million, an increase of 19.1% versus the first nine months of 2009.  After tax profit for the first nine months of the year was £398,000 versus a loss of £668,000 during the first nine months of 2009.

Pilat executives provided optimistic guidance for the fourth quarter, which it says is typically strong, and said that it expects revenue for the full year 2010 to be its highest ever.

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You can read the full Pilat Media Q3 earnings announcement here.

Pilat Media’s Q2 2010 earnings announcement is here.

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