I-Power released robust 3rd quarter growth

E-Business solutions specialist, I-Power Berhad, announced solid gains in both profits and revenues with the release of its third quarter results for the financial period ended 31st March 2007.

The MSC-status company posted a sales revenue of RM16.82 million and a profit after tax of RM3.70 million for the third quarter ended 31st March 2007.

This represents an increase of sales revenue and net profit of 200% and 32% respectively compared to the same period last year with sales of RM5.6 million and net profit of RM2.8 million.

I-Power’s Chief Executive Officer Jason Chia said, “We are pleased with the strong performance for the third quarter, and are confident that the bullish momentum will be maintained through-out the remaining financial year. Our goal is to strengthen our financial fundamentals whilst at the same time consistently build up I-Power’s brand-name with aggressive marketing and sales activities.”

Jason Chia, I-Power Berhad’s Chief Executive Office

“For the whole 12 months of the last financial year ended 30th June 2006, we earned a profit of RM7.2 million on the back of RM18.3 million in sales revenue.

With the total three quarters financial results just announced with sales of RM29.6 million and profits after tax of RM7.3 million, we have in the first 9 months exceeded the whole of last year’s sales and profits. Whilst we are pleased with the third quarter performance, we will work even harder and more aggressively to ensure we finish the remaining year on a more solid note.”

“We are confident of continued robust earnings and sales growth because apart from the fact that I-Power has the most comprehensive suite of e-solutions in the Malaysian market with new generation technologies such as Java and IBM international middle-ware platforms, the e-solutions market is also a fairly new market with tremendous growth opportunities. In terms of real adoption, the e-business solutions market in Malaysia still has some way to go,” Chia said.

The CEO also emphasized, “Whilst we pursue more projects, we will continue to maintain our disciplined focus on profitable growth to differentiate ourselves further in the market. Our long term objective is to aggressively build I-Power’s brand-name whilst at the same time always seek to maximize our shareholders’ wealth.”

About I-Power Berhad
I-Power Berhad is a leading specialist in the e-business solutions market in Malaysia, providing an extensive and comprehensive range of homegrown e-solutions products of international standard to the corporate world. The power and appeal of I-Power’s range of e-solutions is characterized by its adoption of open, international standards, as well as proven, well-established architectures and development framework. I-Power’s range of web-based products are inherently imbedded with Internet technologies and developed using a broad range of established, leading-edge and proven Internet technologies that comply with open standards like XML, J2EE and Web Services which are set by international bodies like the WWW Consortium, the Java Community Process Program and the Web Services Interoperability Organization.