Service Point - Results for Q3 2009

About 3 weeks ago, I saw that Service Point had recently reported its results through Q3 2009.

You can find that press release at this web address:

http://www.servicepoint.net/es/press/docs/PR_3Q09_091109.pdf

The lack of transparency in Spain-based, public-company-reporting is very interesting.

The press release makes it sound like "all is well" (only 7+ percent off.)

They don't mention anything specifically about Q3 2009 (or Q3 2009 vs. Q3 2008), but when you do the math to extrapolate what their Q3 sales were, comparatively y-o-y (the math I did do), one can easily see that Q3 was an awful quarter for them, comparatively speaking and (and trend-wise) compared to the y-o-y comparative results for the 1st half. (I am pretty sure, but not certain, that Q1 was plus only because it benefited from acquired growth, y-o-y; they no longer, I don't think, have the benefit of using the acquired growth to pump up their numbers.)

If I did the math correctly, Q3 2009 Sales were off approximately 18% compared to Q3 2008 sales.


Service Point REVENUES ONLY
(amounts are in Euros)

2008 - 2009 - change

Q1- 56- 59- 5.36% -Q1 y-o-y change
Q2- 59- 54- -8.47% -Q2 y-o-y change
6MO- 115- 113- -1.74% -1st half y-o-y change

Q3- 60- 49- -18.33% -Q3 y-o-y change
9MO- 175- 162- -7.43% -9 month y-o-y change
Q4- 63- -not yet rept'd
Full year- 238- -not yet rept'd


Reported for 1st 9 months 162
Reported for 1st half -113
extrapolated as Q3 sales 49

This post only pertains to Sales Revenues; I was too lazy to look at net income.