Danka posts slow Q2

5 November 2004 – St Petersburg (FL): Danka Business Systems has posted a slow Q2 in line with expectations, although sales and cash generation were slightly higher than Q1 figures.

Total revenue for the quarter, ending 30 September, was $308.7 million, a decline of 4 per cent from the same period in 2003.

Net loss was $1.8 million, compared to a net loss of $17.3 million in the year-ago quarter.

Danka’s CEO Todd Mavis said: "In the quarter we successfully executed on key initiatives to increase equipment sales and cash generation over last quarter. The companies efforts remain focused on the creation of value across the enterprise and the second quarter results were validation that we are on the right track".