Slovak IT company Novitech, a.s. Kosice ended last year with earnings before interests and taxation (EBIT) of SKK 33.1 million on sales of SKK 126.2 million. Of this, sales of its tax information system reached SKK 115.3 million. Vice chairman of Novitech’s board of directors Dusan Lukasik reported on the non-audited results to SITA.

In 2002, Novitech underwent restructuring aimed at developing a transparent organizational structure enabling effective implementation of OECD recommendations in transparency of the company’s management. The one-off expenses on the restructuring reached SKK 6.3 million.

The company spent SKK 4 million on one-off research and development activities linked to preparation of the product p-Business Ring for commercial applications. It is a set of several products in the area of managing processes in companies. To implement this product on the market, Novitech cooperates with several foreign companies of Great Britain, Finland, France and Austria. In the fourth quarter of last year Novitech signed contracts for this new product at a volume of SKK 80 million.

Novitech, a.s. Kosice focuses on development and implementation of extensive information systems and project management. It was established in 1989 and now employs 140 highly qualified people working in the headquarters in Kosice and specialized subsidiaries throughout Slovakia.