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FOR IMMEDIATE RELEASE
KarenSoft returns to Profitability
Penang, 1 March 2005 - MESDAQ Market-listed KarenSoft Technology Berhad (KarenSoft) reported yesterday a 2004 net profit that came close to the RM 1 million mark.
In its announcement to Bursa Malaysia, KarenSoft stated that its net profit rose 264% to RM0.977 million from a net loss of RM0.595 a year earlier.
For the financial year ended 31 December 2004, KarenSoft recorded a turnover of RM6.147 million, 17% higher than last year's corresponding results of RM5.238 million.
Consequently, KarenSoft recorded profit before taxation of RM0.993 million, a significant turnaround from last financial year's pretax loss of RM0.495 million. KarenSoft
attributes this improvement in profitability was due to higher sales and reduction in operational cost especially staff costs.
The higher revenue was a result of overall improvement in the flagship product, KarenSoft ERP2 and introduction of new product, KarenSoft ExecSuite. KarenSoft show a
positive earning of 1.4 cents per share compared to a loss of 0.9 cents per share previously. This marked a 55.5% improvement from previous year. The net tangible
assets per share has improved from 16.21 cents to 18.18 cents per share as at 31 December 2004.
Barring any unforseen circumstances, KarenSoft expects its financial performance in 2005 to be bullish.
KarenSoft Technology Berhad, a MSC-Status Company listed on the MSEB Mesdaq Market since 24 January 2003 is a leading Malaysian Enterprise Solutions Provider
since 1991. Based in Prai with branches in Penang, PJ, Cyberjaya and Yangzhou, China. KarenSoft aims to be a global enterprise solutions provider. An MSC-status
company, KarenSoft was also included in the 2002 and 2003 Delloitte Touche Tohmatsu's Asia Pacific FAST 500, a survey of APAC fastest growing technology
companies. In this survey KarenSoft clinched the #4 (2002: #6) spot amongst 11 (2002: 13) Malaysian Companies which made the ATF 500 and ranked #84 (2002: #119) out
of 250 companies in APAC.
For more information please contact :
Mr Chee Chong Hwa, CA(M), CPA
Executive Chairman / Chief Executive Officer
KarenSoft Technology Berhad
MSC-Status Company
Listed on Bursa Malaysia Mesdaq Market (Stock Code : 0014/KRNSOFT)
Mobile : 012-4890605
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