Camelot Q1 2011 Net Income Up 118% YoY

Camelot, 5/20/11

Enterprise application services provider Camelot Information Systems (NYSE: CIS) has announced its financial results for the first quarter of 2011, with net revenues up 51.7% YoY to USD 53.6 mln.

Net income attributable to Camelot for the first quarter increased 118.1% YoY to USD 2.29 mln from USD 1.05 mln in the first quarter of 2010.

Net revenues from enterprise application services were USD 36.12 mln, up 44.4% YoY from Q1 2010. Net revenues from financial industry IT services were USD 17.45 mln, an increase of 69.4% YoY.

Camelot expects net revenues for Q2 2011 to be approximately USD 60 mln, representing a 36.1% increase YoY from the second quarter of 2010.

To view the complete report please see here.

Keywords: application software CIS IT services Q1 2011 Camelot profit revenue fiscal report

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