Insight hails robust UK performance

The UK was highlighted as a bright spot by corporate reseller Insight Enterprises in its first-quarter results statement.

US-based Insight posted a 14 per cent year-on-year fall in overall revenues to $951.2m (£622m) in the three months to 31 March. Net losses hit $6.8m.

However, chief executive Rich Fennessy dubbed Insight’s performance as “solid” and stressed the firm had completed a previously announced restatement process of its historical financial statements.

EMEA revenues fell 15 per cent in local currencies to $270.7m but actually grew eight per cent in local currency terms.

Insight said the UK “performed well” during the quarter as hardware sales in the country fell just two per cent in local currencies, compared with a 25 per cent drop in its native US.

Meanwhile, UK software revenues leapt 51 per cent and UK services sales almost trebled.

Operating profit from the EMEA region stood at $581,000 compared with $6.3m a year earlier.

Fennessy said: “Our business achieved what we consider to be solid financial results in the first quarter given the challenging demand environment for IT spend globally.

“We are very pleased to have the restatement process and investigation behind us, and while we expect the balance of 2009 to continue to be challenging, we believe we have the right business model, the right teammates and a strong balance sheet that will position us well throughout the balance of 2009 and into 2010.”