IT solutions provider Crescendo ups 20pc in Q1

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IT solutions provider Crescendo reported a turnover worth 15.31 million lei (3.6 million euros) in the first three months of the year, up 20 percent as against 2009.

The rise was ensured by the finalisation of contracts concluded in 2008.

General manager of Crescendo, Marius Tulea, quoted by daily Ziarul Financiar said that fewer contracts have been signed lately. Tulea said that in the first three months the gross profit grew 5 percent from 1.8 million lei (0.4 million euros).

This year, Crescendo aims to maintain the turnover reported in 2008 (18.16 million euros).

‘Despite a good Q1, I do not expect an outstanding Q2 and I predict a dramatic Q3, allowing for the summer. I expect a recovery in Q4, but I cannot predict whether we’ll maintain the turnover or whether we’ll go down, said Tulea.

In general, the customers’ appetite for investments has decreased a lot, said Crescendo’s official and many projects were put off or cancelled.
At present Crescendo has 100 employees, however, the general manager said that he looks proudly at the number, but also with concern, allowing for the economic crisis.

‘We are employing people in the commercial segment, but selectively for a certain type of expertise.’

The bulk of the company’s turnover is unfolding in the enterprise segment (companies with over 200-300 users in IT), whereas the public segment accounted for 15-20 percent one year ago. Tulea said that he received offers to sell the company, however, the talks did not materialise.

‘The sale is not a purpose in itself. We are listening, because many times project opportunities show up, even if no transaction is made,’ said Marius Tulea Crescendo’s general manager.

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