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FIRST TECH GIVES COLUMBUS LIFT

Columbus logoThe acquisition of First Tech Direct gave Columbus, the Copenhagen-based Dynamics reseller, a significant lift to the results of its North America operations for the first half ended June 30. North American EBITDA reached about $1.5 million, up 252 percent from the first half of 2011.
Revenue for the continent was about $14.5 million, an increase of 45 percent from a year earlier. Company-wide revenue was about $76.4 million for the half just ended and net earnings were roughly $630,000. Most were wondering why Columbus purchased the Detroit-area VAR, but the parent was probably seeking revenue growth. It unloaded its French and Spanish subsidiaries in December, selling them to ProdWare, given the European economic woes – with Spain one of the real problem areas – it was probably seeking an area with brighter prospects to boost overall results. First Tech, owned by John Silvani, had $7 million in annual revenue, so if that's split in equal halves, it would have contributed around $3 million out of the $14.5 million for North America. The region represented 19 percent of company revenue, compared to 14 percent in last year's first half. Columbus' operations in Western Europe did well, with a 15-percent increase in revenue, but that stemmed largely from the United Kingdom, which doesn't use the euro, while revenue in the Netherlands, which does, decreased.

 

 

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