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Ideiasnet Changes Loss and Reports R$ 1.4 Million Profit
Aug 15, 2011 (05:08 PM EDT)


RIO DE JANEIRO, Aug. 15, 2011 /PRNewswire/ -- Ideiasnet S.A. [Bovespa: IDNT3], a technology venture capital company that invests in Brazil, announces today its results for the second quarter of 2011 (2Q11).

2Q11 Highlights

  • Proportional Combined Net Income reached R$ 297.8 million in 2Q11, a 21.1% increase over 2Q10. 1H11 closed with R$ 583.0 million, a 20.6% increase over the same period in 2010.
  • Proportional EBITDA was R$ 12 million, a 89.7% increase over 1Q11, with a 4.0% margin, compared to 2.2% in 1Q11. EBITDA in 1H11 was R$ 18.4 million, a 153.9% increase over 1H10.
  • Proportional Net Income in 2Q11 was R$ 1.4 million, compared to R$ 13.5 million in losses in 2Q10.

Portfolio Highlights

MoIP

Net Revenue in the first half of the year was R$8.3 million, a 37.3% increase over the same period in 2010.  EBITDA in 1H11 was R$1.5 million, which represented at 126.3% increase over 1H10. Net Income the first half of the year was 31 times higher than in 1H10

OFFICER

Officer is a large distributor of software, equipment and computer supplies in Brazil. In the first six months of 2011 Officer - a large distributor of software, equipment and computer supplies in Brazil , Net Revenue of R$482,9 million ,an increase of 22.9%. This improvement is due to the increased sale of software, good business performance with a gain of market share, the collaboration of revenue automation. EBITDA in the first half of the year was R$ 18.1 million, a 100.8% increase. Net Income in 1H11 increased by 88.2%, totaling R$ 4.1 million.

PADTEC

Padtec is a company with 10 years of experience and is currently the largest manufacturer of optical transmission systems in Brazil. Its products are used by all of the telecommunications companies operating in Brazil and are sold in more than 40 countries.

Year to date Padtec has shown an increase of 55.5%, reaching R$99.2 million in 1H11. The increase in Net Revenue is due to the introduction to the portfolio of new products from the 40Gb line, an increase in the revenue from services and sales to new clients and markets.

The 1H11 EBITDA of R$ 12.6 million and margin of 12.7% . Net Income for 1H11 was 35.0% higher than in 1H10, reaching R$9.9 million.

Contact:
Phone: +55 21 3206-9200
Fax: +55 21 3206-9201
E-mail: imprensa@ideiasnet.com.br
Website: www.ideiasnet.com.br
Twitter: @ideiasnet

SOURCE Ideiasnet S.A.