Customer care and billings software developer LHS Group Inc has reported a second quarter net profit of $6.15m on revenue that rose 49.7% to $66m. This compared to a net loss in the second quarter of 1998 of $2m. For the first six months of the year, the company reported a net profit up 490% at $14.38m on revenue that rose 49.8% to $49.6m.
At the pre-tax level, profit was up 493% in the second quarter, to $12m, and 161% in the first half to $24.9m. Earnings per share were $0.10 in the quarter compared to a loss per share of $0.04 in the same period last year. Meanwhile for the six months, EPS rose 500% to $0.24.
In both the second quarter of 1999 and the corresponding period in 1998 LHS reported one-time merger charges on its P&L account, this year for the acquisition of Priority Call Management Inc and last year for InfoCellular Inc. LHS said that, discounting both charges, the underlying growth in consolidated earnings was 63%, from $0.11 in the second quarter 1998 to $0.18 in the same period this year.
Commenting on the results, LHS CEO Hartmut Lademacher said that the markets and demand for customer care and billings solutions continue to be strong, adding that the company’s plan now is to expand into the telecommunications software space.
