Hansen Technologies Limited (ASX: HSN) is pleased to confirm that its previously forecasted improved performance has come to fruition and can now be quantified for the first half of the 2006/7 fiscal year as a return to a currently forecast positive Earnings Before Tax (EBT) of approximately $500,000, representing a $1.3 million plus improvement over the loss in the corresponding period last year. The Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA) for the first half of this fiscal year is forecast to exceed $A2.5 million representing a 100% plus increase on the corresponding period in the previous year. R & D capitalised so far this year is $1 million compared with $2 million in the corresponding period in the previous year.
Andrew Hansen, Managing Director, said, "The forecasted performance for the first half of this fiscal year represents an encouraging start. The initiatives begun in the second half of last fiscal year have continued into the first half of this year. We have completed a number of structural changes to our organization which have improved internal operational efficiencies. We are growing our UK operations and increasing our capacity to respond to the opportunities we are seeing in that market space. Furthermore we are generating new interest in our HUB energy billing product and responding to enquiries from both existing as well as new customers in Australia and the UK.
There are a number of new energy and telecommunications billing projects expected to be awarded early in 2007 and our full year's performance will be dependent upon our success with these tenders as well as the timing of the start of the new projects.
"I am confident of maintaining the momentum we have built up in the first half of this year and I am looking forward to a solid second half performance".