OREANDA-NEWS. Armada Group (MICEX-RTS: ARMD) hereby announces preliminary financial results for 9 months of 2013 (from January 1 to September 30, 2013).

The revenue of Armada for the first 9 months of 2013 and 2012: mln rub.

9M2013*

9M2012*

Growth

Software development and implementation

826

587

41%

IT services

1,651

1,757

-6%

TOTAL

2,477

2,344

6%

Based on the management accounting under IFRS, from January 1 to September 30 of each year.

The revenue of Armada Group consolidated under IFRS for 9 months of 2013 increased by 6% over the same period last year and amounted about 2.5 bln rubles. The main growth driver is the software development and implementation segment.

“The efforts of Armada’s management are focused on strengthening of the company’s leading positions on the Russian market of software development, implementation and maintenance”, said Alexey Kuzovkin, Chairman of the Board of Directors of Armada ОАО. “The choice of projects in the IT services segment will largely depend on their potential margins. Especially it concerns infrastructure projects”, he added.

The revenue of Armada’s subsidiaries from infrastructure projects for 9M2013 decreased to 549 mln rubles (901 mln rubles for 9M2012). This led to a general reduction in the IT services volume despite the fact that other types of IT services grew in the aggregate (consulting, outsourcing, training, project management).

Armada’s revenue for 2013 essentially depends on the results of the 4th quarter. A lot of state tenders are announced and awarded during this period. According to the statistics of the last 5 years, the 4th quarter accounted for 51% to 58% of Armada’s annual revenue.