Emtec, Inc. reported net income of $1.7 million, or $0.12 per share, for the fiscal year ending 8/31/2009. These results were up significantly from the $1.3 million, or $0.09 per share, reported in fiscal 2008. Earnings before interest, taxes, depreciation and amortization (EBITDA) for fiscal 2009 were reported at $6.4 million.
Emtec, Inc. saw a large jump in Services and Consulting revenue for the fiscal year, which came in at $55.8 million, up from $20.6 million in fiscal 2008. The Services and Consulting segment now comprises 25% of total company revenue. Emtec, Inc. also increased its gross margin in the fiscal year to 14.7%, and reduced its long-term debt by $2.4 million.
Dinesh Desai, the CEO of Emtec, Inc., said, “In light of the continued economic downturn I am delighted to be able to report this improved annual performance once again…early in the year we took measures to preserve long term value for the Company and eliminate certain excess costs.”
Emtec, Inc. is an information technology company that provides staffing, consulting, and technology infrastructure to federal, state and local governments in Canada and the United States.