Earnings: Buongiorno Reports Q1 Results; Acquisition Of iTouch Complete


Buongiorno, the Italian mobile entertainment company, today announced Q1 results for the period ended March 31, reporting that following the acquisition of iTouch, the company has increased revenues and profits compared to the same period in 2007.

Quarterly highlights:

— Revenues up 86.3 percent to Euro 79 million (US $123 million).
— EBITDA up 77 percent to Euro 8.2 million (US $12.7 million).
— Operating profit up 84.6 percent to Euro 6.5 million (US $10.1 million).
— Launched new markets, including Turkey, Brazil, Mexico, Argentina and South Africa.
— Q1 Profits grew 40 percent, totaling Euro 3.8 million (US $5.9 million).

CEO Andrea Casalini said: the company will continue to try and grow revenues, and in particular “make strong efforts to acquire new subscribers to B2C services and increase its market share” in the marketing services sectors. At the same time, the company wants to focus on profitability, by leveraging the cost synergies through the integration of iTouch. The Company confirmed its 2008 guidance.

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