| Wed 30 Oct 2002, 11:54 | | Spescom Reveals Improved Second Half Plus Globalis |
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Spescom Reveals Improved Second Half Plus Globalisation Investment Returns
Spescom Limited
Share Code: SPS
ISIN Code: ZAE000017919
Press Release
Multi-national technology innovator, Spescom Limited, ended its current
financial year on September 30, and preliminary indications point to an improved
second half.
According to Spescom`s executive chairman, Tony Farah, the group`s operations
worldwide have reflected a positive performance trend.
"Obviously the poor results for the first half will impact on the full year
results, but the second half year has been particularly gratifying, not only in
terms of the enhanced performance, but more importantly in showing the early
fruits of our investment in the globalisation of Spescom," says Farah.
He adds that indications are that the group may exceed its stated target of
achieving 50% of earnings from operations outside of South Africa (SA) by the
end of the 2003 financial period.
"Our US operation, Spescom Software Inc., has continued with the momentum
reflected in its 3rd quarter results. A number of significant deals were
closed during the recent period and we envisage that this trend will continue
during 2003. The company`s flagship product eBa is gaining increasing
recognition by addressing critical business issues not currently being satisfied
by other products.
Commenting on the UK operation, Farah says that rollout of the BT contract has
commenced and manufacture is being ramped up to produce in excess of 50,000
units per month. "Market acceptance has been very favourable following BT`s
formal launch of the product."
Farah says Spescom DataVoice, recognised as a leading global innovator in the
multimedia transaction-recording marketplace, has significantly increased its
worldwide distribution network and now attributes 35 to 40% of its revenues to
European deals. Spescom DataVoice continues to command in excess of 70% of the
SA market.
He says that the group`s SA based operations have been consolidated and are now
very strongly configured for maximum profitability.
"Two and a half years ago, Spescom invested just over $8m in order to embark on
an internationalisation programme. This was financed through direct debt with
the corresponding advantage of low international interest rates. Although at
first sight the group appears to be highly geared, this situation will be
reversed as operational hard currency is generated.
"Furthermore, this investment has resulted in highly strategic business for the
group which, for the 2003 financial year, is forecast to produce revenues in
excess of $25m."
Farah notes that from a world business perspective the past two years have been
remarkable and totally unpredictable.
He says that from Spescom`s standpoint the most notable outcome of this tough
period, is that the group has emerged as a truly international enterprise with a
Nasdaq listed company, operations in SA, the UK and USA, plus channels to market
throughout the world.
"This growth and transformation has not only been achieved wholly organically
but through the development of Spescom`s world acclaimed proprietary
technology."
ends
About Spescom
Spescom is a multi-national technology innovator with direct operations in the
US, UK and South Africa.
The group is publicly listed on the JSE Securities Exchange SA (Spescom Ltd),
and on the NASDAQ OTCBB : ALTS.OB (Spescom Software Inc).
Spescom addresses the information and communications technology market providing
both products and solutions to connect to the network economy, as well as
enterprise software to manage information and knowledge.
Specifically, Spescom provides solutions in the areas of access network;
enterprise information management; multimedia transaction recording; broadcast;
customer contact centres; and test & measurement.
Spescom markets its products worldwide through appointed partners and
distributors under the eB brand for its enterprise software, and the
DataVoiceabrand for its multimedia transaction recording solutions.
Spescom`s global customer base consists of multi-national organisations
including leading enterprises in the utilities, telecommunications,
transportation, financial, banking and insurance sectors.
Worldwide, customers include Siemens, British Telecoms, Network Rail (formerly
Railtrack), Lloyds of London, Barclays Bank, Abbey National Bank, WH Smith,
Caterpillar, Bechtel, AmerenUE, Entergy, Bombardier, Ocean Energy, Sempra
Energy, Telkom, SABC, Old Mutual, Eskom, Transnet, First National Bank.
For more information on Spescom, please visit www.spescomsoftware.com and
www.spescom.com
For further information contact:
Tony Farah,
Executive Chairman,
Spescom Limited
Tel: (011) 266 1700
Cell: 082 825 6791
email: afarah@spescom.com
Barbara Kruger,
Spescom chief communications officer,
Tel: +27 11 266 1701
fax: +27 11 266 1553
Cell: 082 456 0328
Email: bkruger@spescom.com
or
Deirdre Blain
BLAIN & ASSOCIATES
Tel: +27 11 789-8548
Fax: +27 11 789-8567
Cell: 083-305 8859
Email: blain@iafrica.com
Date: 30/10/2002 08:57:00 AM Produced by the JSE SENS Department
