Miratech, a leading Ukrainian outsourcing provider, reports 2010 Operating Results. During the elapsed period, the gross operating revenue (GOR) amounted to 60.111 million UAH, which is 20 percent more than in the previous year. The Company’s profit is 4.810 million UAH, which is 45 percent more than in the previous year. Ernst & Young Global, Ltd. will finalize a complete audit of consolidated business activities of Miratech.

The reporting period saw Miratech having continued to expand backlog portfolio for provision of IT services to Kyivstar GSM, Swedbank, Generali Garant, Sberbank of Russia JSC, First Ukrainian International Bank, OTP Bank, and Bank Forum PJSC. According to the results of the contest “The best project for corporate communication system of 2009-2010”, service delivery by Miratech for regional IT banking support of VAB Bank and Swedbank acknowledged best in the industry.

Miratech has topped the National Business Rating and became the 2010 Industry Leader in the category of Software Development (UA Standard Industrial Classification of Economic Activities 72.22.0). The National Business Rating is designed to identify industry leaders based on formal data of State Statistics Committee of Ukraine.

Main facts and figures:

• The Q4 GOR came to 17.414 million UAH, which is 15 percent more than in the third quarter of 2010, and 22 percent more compared to the fourth quarter of 2009;
• The Q4 EBITA came to 1.797 million UAH, which is 155 percent more than in the third quarter of 2010, and 41 percent more compared to the fourth quarter of 2009;
• In 2010, the Company’s gross operating revenue amounted to 60.111 million UAH, which is 20 percent more than in 2009;
• In 2010, the Company’s profit amounted to 4.810 million UAH, which is 45 percent more than in 2009;
• In 2010, Miratech started new projects to outsource IT services for the major enterprises in financial and telecommunication sectors;
• In 2010, Miratech’s outsourcing service delivery acknowledged best in the industry;
• In 2010, Miratech has topped the National Business Rating and became the 2010 Industry Leader;
• By the end of 2010, the Company’s headcount amounted to 380 employees.

Valeriy Kutsyy, Miratech CEO, said, “In 2010, we were able to achieve most of the set objectives. Over the past three years, Miratech shows convincing business growth. Talking about the future, we must take into account market trends in 2011, which we assess as favorable to Miratech.”