Alphyra has described its results for the fiscal period up to December 2001 as "disappointing and blamed the downturn in the IT and telecommunications market for the poor showing.
Turnover for the eight months to December 31st 2001 was €55.4 million as opposed to €88.5 in the previous months.
In addition, profit before interest, tax, depreciation and amortisation (EBITDA) for the eight months to 31 December 2001 was €0.4 million as opposed to €7.5 million in the year before.
The fall in turnover, according to Mr Jack McDonnell, chairman of the company, was the result of poor performance returned by the voice and data businesses, of which only the payphones business remains, following the disposal of the Telecommunications and Computers businesses.
The voice and data division saw a drop in turnover for the eight months to was €28 million as opposed to €64.5 million previously.
Turnover in Ireland, however, increased to €5.9 million in the eight month period as opposed to €5.7 million in the previous eight months.
There, he said, as this market is maturing, we are increasingly focused on driving greater efficiencies into the terminal base through rigorous site performance evaluation.
The company said its European business also performed well during the eight month period with turnover up €12.1 million - driven mainly by growth in its Swedish and Dutch operations.
The difficult trading conditions experienced by the payphones business since the September 11 attacks in the US have continued over the last few months. As a result, Alphyra has decided to write down the goodwill associated with this business by €10.1 million.
Looking ahead, Alphyra said it is well positioned to drive significant revenue growth over the coming years.