Buongiorno has released its preliminary results for 2006 (PDF here), showing 4th quarter consolidated revenues of approximately 47 million euro (US$60.9 million) which represents a year-on-year increase of ten percent. The full results are scheduled for Feb 12th.
For the full year of 2006 consolidated revenues were 192 million euro (US$248.9 million), which was an increase of 41 percent year-on-year but below the most recent guidance of 195-205 million euro. This was due to “the higher-than-expected revenue shortfall on the US market in the last part of the year”...a number of factors were listed but I think Verizon deciding to cut them off would have a strong effect. They also mentioned a worsening in the Euro/USD exchange rate, which not only affected the quarterly results in euro but has prompted them to do an accounting readjustment on previous quarters. Buongiorno has also reduced its marketing spending because of lower returns seen in recent months…
For Q4 2006 the ebitda was about 6.6 million euros, a year-on-year increase of 22 percent, and the full-year figure is expected to be 23.6 million euros.
For 2007 Buongiorno predicts revenues of between 230-250 million euros (US$298-323 million), with Industrial Added Value between 94-100 million euro and ebitda between 30-34 million euro.