ComputerLand Q4 profits take a nosedive

IT systems integrator ComputerLand has failed to fulfill its optimistic forecasts announcing disappointing Q4 results. The firm's net profit amounted to a mere zl. 3.3 million, which is five times less than in 2001. This indicates that, for 2002, ComputerLand's net profit will be around zl. 16.7 million. Sales revenues also declined and stand at zl. 502.3 million. According to Michal Danielewski from ComputerLand's management, the poor results reflects the recession as well as smaller contracts from the industrial, public and health sectors. The firm's president Slawomir Chlon told journalists that the first quarter of 2003 won't bring any improvement, but he hopes things will pick up towards the end of the year. (Gazeta Wyborcza, Feb. 15-16, p. 29) A.Z.