FY2009 Half Year Results and Outlook

Released: 17 Feb 2009

FY2009 Half Year Headlines

• Revenue of $98.08m (up 3.6% on the prior corresponding period), EBITDA of $11.22m (down 38.7%) and NPAT of $6.41m (down 48.7%). Includes project write downs of $4m and $1.2m redundancies
• The global financial situation and the reduced levels of Federal Government demand have significantly impacted the half year result
• Ended December 2008 with 1,199 staff, 22 more than the same time last year, 90 less than June 2008
• India operation continuing to grow at 100 resources – up from 62 in corresponding period last year
• Extensive operational review underway
• Operating cash flow of $13.2m, up $11.4m on corresponding period last year
• New three year debt facilities finalised - strong focus on eliminating debt
• Diluted earnings per share decreased to 7.1 cents Interim fully franked dividend of 0.75 cents
• Client cross sell ratios continue to improve

Australian consulting and I.T. services provider Oakton Limited [ASX:OKN] today announced a net profit after tax of $6.4 million for the half year ended December 2008 - a 48.7% decrease on the corresponding half year period. Revenue increased by 3.6% to $98.1 million and EBITDA decreased by 38.7% to $11.2 million during the half year period.

The Oakton Board declared a fully-franked interim dividend of 0.75 cents per share. The dividend will be paid on 30 April 2009 with a record date of 15 April 2009.

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