Bull reports results for 1H 2008, posts profit

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From Bull’s release yesterday:

Bull logoThanks to a 4.3% increase in consolidated revenues in the second quarter and an strong growth of 19.9% in Services and Solutions, revenues for the first six months of 2008 were €550.6 million, representing an increase of 0.1% compared with the published figure of €550.2 million for the same period in 2007. After recasting to exclude businesses sold during 2007 and 2008, growth in consolidated revenues is 1.1% (2.1% after taking account of the additional impact of exchange rates). Gross margin was €124.0 million, representing 22.5% of revenues, compared with €135.1 million, or 24.6% of revenues for the same period in the previous year. This change reflects the evolution in the Group’s portfolio of offerings, most notably the increased importance of services and solutions, in line with Bull’s strategy. EBIT (see glossary) was €11.5 million, or 2.1% of revenues; the published EBIT figure for the first six months of 2007 having been €9.5 million, or 1.7% of revenues for the period. Bull recorded net income of €4.7 million for the six month period, representing a 4.4% increase.

There is a lot of detail in the release if you’re interested in that sort of thing.