GFT Technologies AG (GFTG) released earnings for first quarter that decreased from last year
The company's bottom line came in at EUR7.09 million, or EUR0.27 per share. This compares with EUR10.62 million, or EUR0.40 per share, last year.
The company's revenue for the period rose 4.5% to EUR221.91 million from EUR212.39 million last year.
GFT Technologies AG earnings at a glance (GAAP) :
-Earnings: EUR7.09 Mln. vs. EUR10.62 Mln. last year.
-EPS: EUR0.27 vs. EUR0.40 last year.
-Revenue: EUR221.91 Mln vs. EUR212.39 Mln last year.
Looking ahead, for the full year, GFT Technologies has reaffirmed its outlook for revenue and EBT. The company still expects revenue of around EUR 930 million with a year-on-year growth of 7 percent. The company continues to expect its EBT to decrease by 8 percent to around EUR 60 million.
Further, excluding items, GFT Technologies has revised up its annual EBIT guidance. The company now expects to register adjusted EBIT of around EUR 75 million. Earlier, the company had projected adjusted EBIT of EUR 68 million with a year-on-year decline of 12 percent.
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