Bloomberg News

Sonda Gains as Software Profit Beats Estimates: Santiago Mover

January 24, 2012

Jan. 24 (Bloomberg) -- Sonda SA rose to a five-week high after the Chilean software company reported net income that exceeded analysts’ estimates as acquisitions push up sales.

Sonda, which operates in 10 Latin American countries, climbed 0.2 percent to 1,292 pesos at the close in Santiago, the strongest closing price since Dec. 19. The stock earlier gained as much as 1.8 percent.

Fourth-quarter profit rose to 14.6 billion pesos ($29.6 million) from 5.81 billion pesos a year earlier as sales jumped 47 percent, according to Bloomberg calculations based on annual earnings released after the close of trading yesterday. The brokerage units of Banco de Chile, Banco Bice and Banco de Credito & Inversiones said net income beat their forecasts.

“Results were positive and above our expectations,” Banchile Inversiones wrote in an e-mailed note to clients. “They reaffirm our positive view on Sonda.”

The consolidation of Quintec SA, which Sonda bought last year, helped push up revenue while earnings before interest, taxes, depreciation and amortization margins fell “slightly” in Brazil, Banchile wrote. Sonda completed five acquisitions in 2010, which it began to include in its results last year.

“The company is showing growth at a higher rate than the sum of the parts from acquisitions, which means that its efforts consolidating have been successful,” Santiago-based brokerage IM Trust wrote in a note to clients.

--Editors: James Attwood, Glenn J. Kalinoski

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editors responsible for this story: James Attwood at jattwood3@bloomberg.net; David Papadopoulos at papadopoulos@bloomberg.net


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