LHS posts 69% income rise

LHS registered a 69% income increase to 13.1 million euros ($19.1 million) in fiscal 2007 ended Dec. 31, from 7.8 million euros ($11.4 million) the year before.


Revenue rose by around 37% to 98.2 million euros ($143.2 million), breaching the company's 2007 target of between 86 million euros ($125.4 million) and 89 million euros ($129.8 million).


The company attributed its revenue and income rise to the expansion of its market positioning in Europe and in the emerging markets.


In 2007, LHS signed contracts for 15 new projects, of which six were with new customers. This increased the number of the company's installations to 125 worldwide.


LHS targets to chalk up 115 million euros ($167.7 million) in revenues this year.