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ComArch posts record 2003 financial results

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ComArch closed 2003 fiscal year vaulting its sales to the record level reaching $65 million USD, marking 30% increase on the previous year and generated the net income $2.3 million - 110% higher than in 2002. The results prove the significant position of ComArch on the domestic market as well as stronger position of ComArch OSS&BSS technology on the global telecommunications scene.

“We are very excited about the 2003 results of our company. They indicate the strengthening of our position on the Polish market as the leading IT systems integrator in all the vertical markets. We also see the growing importance of revenues coming from the international markets resulting from our intense presence in OSS and BSS sector. Our three-year strategy of building our export sales is now starting to bring profits," says Rafa∏ Chwast, ComArch CFO and Vice President”

Year 2003 was a very important period as far as the export sales are concerned. ComArch signed milestone contracts for the implementation of its OSS&BSS systems at O2 Germany, Department of Information Services, The State of Washington and with the leading Ukrainian mobile carrier UMC, all of which belong to Tier One operators. In 2003 ComArch also saw 20% rise in the number of people employed which means almost 1100 people working for ComArch in all of the offices all over the world, most of which are highly experienced IT specialists and business consultants.

ComArch strategic plans for 2004 are: consolidation of ComArch capital Group, reinforcement of the company’s position as systems’ integrator on the Polish market, business growth in main vertical markets in Poland: public administration, finance and banking, and trade and industry, heavy investments in the new software development centre, intensification of international activities in the telecommunications and OSS&BSS market and opening of new offices. ComArch is planning dynamic growth in 2004.

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