London (PRWEB UK) 24 January 2013
SAS Global Communications, an international provider of managed and professional services, today reported its financial results for the fourth quarter and year-ending 31 August 2012.
Fourth quarter and year-end accomplishments
"2012 has given us another period of strong operational and financial growth,” said Charles Davis, CEO for SAS GC. “Recurring revenues in the year have increased to 85% and our annuity contracts continue to account for more than 70% of turnover.”
“Looking forward, we’re projecting another year of strong growth with revenues forecast at £15m for 2013; we have a solid pipeline of work and this is currently giving us clarity on 90% of our 2013 revenues.” continued Davis. “We are also on track with our strategy to 2014 and are laying the right foundations for sustainable growth over the next three to five years.”
Fourth quarter financial results
Revenues for the three months ending 31 August 2012 were £3.17 million, up nine percent from £2.91 million in the fourth quarter of 2011. Gross margin for the quarter was 54 percent, compared with 48 percent in the fourth quarter of 2011.
Year-end financial results
For the year, SAS GC reported revenues of £12.49 million, an increase of £2.06 million or 20 percent compared with revenues of £10.43 million for the year ending 31 August 2011. Net income was £1.98 million compared with a net income of £1.65 million on revenue of £10.43 million in 2011. Gross margin for 2012 was 47 percent versus 45 percent in 2011.
EBITDA was £2.36 million for the year ended 31 August 2012 compared with £2 million EBITDA for the same period in 2011.