TOTVS registered a 28.5% growth in net income
In the 3Q11, the company accrues over USD 24 millions (R$ 39 millions) of consolidated net income and adds 732 new clients to its base
São Paulo, 27th October, 2011 – TOTVS (BM&FBOVESPA: TOTS3), leader in Latin America in the development and marketing of ERP software and rendering related services, announces today its financial results regarding the third quarter of 2011 (3Q11).
The company registered a 28.5% increase in its net consolidated net income, compared to the same period of last year, being this the greatest profit of a third quarter in the history of the company. The sum reaches USD 24.2 millions (R$ 39.7 millions). Accounting the nine first months of the year (9M11), TOTVS registered a USD 66.9 millions (R$ 109.4 millions) profit, the figure is 24.9% above the 9M10.
The net revenue also presented a growth in the year accrued of 23.5%, totaling USD 578.1 millions (R$ 994.1 millions). As for the third quarter, the increase was 14.2%, totaling USD 197.9 millions (R$ 323.9 millions). That acceleration was generated, mainly, by the increase in service and maintenance revenue, that were influenced by sales of licenses carried out in previous quarters.
The services revenue, specifically, exceeded in 18.7% the 3Q10, registering USD 63.6 millions (R$104 millions). In the sum of the nine months, the increase was even bigger – 20.1% greater compared to 9M10.
In this quarter, the company added to its base 732 new clients. Additionally, over 3.600 sales were carried out over to the clients of the base, which in financial values represented a 21.6% growth over 3Q10.
Statement:
Laércio Cosentino, president of the TOTVS, about the results:
"In those nine first months of 2011, we dedicate ourselves to the complete integration of the operations, regarding specially the consolidation of the TOTVS brand, portfolio of solutions and shared services centers, according to our expectation. With that, we conclude the 4th stage of the history of TOTVS, that foresees the consolidation and the leadership of the Brazilian market, and we initiate the 5th stage where will we become global. The hard work and our history accredit us to start this new moment, certain that we have all the conditions of fulfilling the expectations", he emphasizes.
About TOTVS
Absolute leader in Brazil, with 48.6% market share*, and also in Latin America with 34.5%, TOTVS is a software, innovation, relationship and management support company. It is the largest company in Latin America in the development of software applications, the 6th largest developer of enterprise resource planning (ERP) systems in the world and the 1st in emerging countries. The Company is the absolute leader in Brazil and in the small and medium business (SMB) in Latin America. TOTVS was the first company in the IT sector in Latin America to go public, and is listed on the Bovespa New Market. Their ERP operations have more than 26,000 customers and are complemented by a broad portfolio of vertical solutions and value-added services like Consulting, Infrastructure and BPO. For more information, visit www.totvs.com.
*Source: Gartner - “All Software Markets, Worldwide, 2010”.