The SAS Group announces fourth quarter and full year financial results for 2010

Jan. 5, 2011 - PRLog -- The SAS Group announces fourth quarter and full year financial results for 2010

05 January 2010, London - The SAS Group, an international provider of IP-based network and managed communications services, today reported its financial results for the fourth quarter and year ending 31 August 2010.

Fourth quarter and year-end accomplishments:
-   Generated £8.7 million in revenue for year-ended 2010, a 22 percent increase over 2009
-   Generated £2.52 million in revenue for the fourth quarter, a 20 percent increase over the same period in 2009
-   Achieved £1.28 million in earnings before interest, taxes, depreciation and amortisation (EBITDA) for the year, a 31 percent increase over 2009
-   Reported a £1.05 million net income for the year ended 2010, a £0.29 million increase over 2009
-   Achieved the company’s gross margin target of 40 percent for the year

"2010 was a very strong year for SAS – we were able to report record financial results in all areas of the business,” said Charles Davis, CEO for the SAS Group.

Davis continued, “Our strategy for focusing on fast growth technology markets that demand a high level of expertise and customer service for their delivery and management has proven robust and will remain unchanged for the year ahead. As a managed service provider, we recognise our most valuable asset is our people and we will continue to invest in their knowledge and development to ensure future growth and stability in the business.”

Fourth Quarter Financial Results:
Revenues for the three months ending 31 August 2010 were £2.52 million, up 22 percent from £2.09 million in the fourth quarter of 2009. Gross margin for the quarter was 42 percent, compared with 39 percent in the fourth quarter of 2009.

Year End Financial Results:
For the year, the SAS Group reported revenues of £8.72 million, an increase of £1.62 million or 22 percent compared with revenues of £7.1 million for the year ending 31 August 2009. Net income was £1.05 million compared with a net income of £0.76 million on revenue of £7.1 million in 2009. Gross margin for 2010 was 40 percent versus 39 percent in 2009.

EBITDA was £1.28 million for the year ended 31 August 2010 compared with £0.98 million EBITDA for the same period in 2009.

About the SAS Group
The SAS Group is a major UK and international provider of IP-based network and managed communications services.  In partnership with leading technology organisations including BT, Cisco, Microsoft, HP and Symantec, the company specialises in the delivery of unified voice, data and video communications solutions.  Founded in 1989, SAS is headquartered in Horsham, West Sussex.

For more information about the SAS Group visit: www.sas.co.uk

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