Vistatec enjoys 57% profits rise despite downturn in tech sector

 

Vistatec, the Dublin-based provider of high-tech and e-business solutions, has announced a 57 per cent rise in profits to $1.2 million (€1.35 million) for the year ended June 30th, 2001.

Revenue at the firm totalled $9.9 million for the year, a 49 per cent rise on last year's sales figure of $6.7 million, it said.

Vistatec said the rise in profits and sales was achieved despite the economic downturn, particularly in the technology sector, along with heavy investment by the company in its infrastructure. During the year, the company relocated its Dublin headquarters to another city premises and set up a cross-platform testing laboratory. It employs 70 people in Dublin.

Vistatec chief executive Mr Mervyn Dyke said the company had put in place a number of strategies to counteract the economic downturn. "We see our financial results for the current year [2001\02] being in line with last year," he said.

"This is quite a different scene to the rapid growth we recorded over the past four years, but we are pleased with this expected outcome, given the current climate. Our first quarter results are in line with these expectations."

Vistatec was founded in 1997 and specialises in localisation of software and internet applications. It provides translation, technical consulting, engineering and testing during the design, development and marketing cycles of software products.

The firm said its localisation services continued to be in demand as technology firms were under constant pressure to maximise revenues by exploiting global markets.

Clients of the company include Canon, Kodak, Computer Associates, Symantec and Microsoft.