LHS Revenue Grows, Despite Tough Economy

Not everyone’s taking a bath in the struggling economy. LHS, a provider of telecom billing and customer care systems across the wireless, wireline and IP telecom markets worldwide, has announced an 8 percent growth in revenue and a 23 percent increase in EBIDTA for the third quarter.

The company says it increased its revenue in the third quarter to EUR 27.4 million, an 8 percent jump compared to the same time last year. It’s cumulated revenue for the first nine months of 2008 was EUR 79.4 million, compared to EUR 71.1 within the first nine months of 2007, constituting an increase of 12 percent.

Adjusted EBITDA was EUR 7.0 million, which is an increase of 23 percent over the same period of the previous year. During the first nine-month period of 2008, LHS achieved an adjusted EBITDA of EUR 17.1 million, which is an increase of 17 percent over the same period 2007.

Wolfgang Kroh, CEO of LHS, commented on the quarterly results by saying, “The once again increased revenue figures and EBITDA in the third quarter of 2008 clearly indicate that we are consistently pursuing our goals through our strategy of continued growth.”