hitech group australia ltd (HIT) Snapshot

HiTech Group Australia Ltd. announced that they will report first half, 2013 results on Feb 27, 2013

HiTech Group Australia Ltd. reported unaudited consolidated earnings results for the first half year ended December 31, 2012. For the period, the company reported revenue of AUD 4,216,643, a decrease of 7% to the previous corresponding period. Net profit after tax was AUD 138,335 compared with AUD 209,328 for the pcp. The lower NPAT was principally due to a decrease in permanent placement revenue in the current tough job market. Profit before income tax was AUD 194,400 against AUD 309,259 a year ago. Net profit attributable to members of the parent entity was AUD 138,335 against AUD 209,428 a year ago. Earnings per diluted share were 0.44 cents against 0.68 cents a year ago. Net cash provided by operating activities AUD 573,972 against AUD 681,519 a year ago. Purchase of plant and equipment was AUD 1,433 against AUD 2,078 a year ago.

HiTech Group Australia Ltd. reported earnings results for the first quarter of fiscal 2013. For the period, the company reported that operating revenue decreased by 2% compared with the previous corresponding period. Income from contracting income has remained consistent. The income from permanent placements has decreased by 54%. This reflects the caution that is present in the business community at the moment. NPAT was $130,772, a small increase of 0.3% compared with the previous corresponding period. The higher NPAT was the result of a containment of costs. Based on internal management accounts for the first quarter, assuming similar market conditions and a recovery in the Australian stock market, the group's expected NPAT for fiscal 2013 will be in the range of $0.4 million to $0.7 million.