ComArch starts dealing with foreign contracts sealed earlier in the year

IT company ComArch has begun carrying out foreign contracts, which were sealed in between June and July of 2003 and are reportedly worth over zł. 25 million. As a result of this, its results for the third quarter might be better than a year ago and the firm has already announced signing new export deals before the year ends. The results are to be better both on the revenues level and net level, which were heavily affected by losses generated by Internet portal Interia. However, "The condition of the portal is improving," claims Rafał Chwast, CFO of ComArch. Among the new clients are British mobile phone operator Virgin O2 and US State Washington DC. Janusz Filipiak, President of ComArch, announced earlier this year that foreign sales would constitute about 20% of its revenues by the end of 2003. The figure amounted to a mere 4% in 2002. Rafał Chwast sustained forecasts of increasing the company's revenues by 20% in 2003, which amounted to zł. 195 million last year. (Parkiet, p. 5) M.M.