hmvod Limited — Earnings Release 2004

Feb 11, 2004

GEM

SYSTEK INFOTECH<08103> - Results Announcement

Systek Information Technology (Holdings) Limited announced on 11/02/2004:
(stock code: 08103 )
Year end date: 31/03/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee

Important Note:

This result announcement form only contain extracted information
from and should be read in conjunction with the detailed results
announcement of the issuer, which can be view on the GEM website
at http://www.hkgem.com

                                                    (Unaudited )
                                 (Unaudited )       Last
                                 Current            Corresponding
                                 Period             Period
                                 from 01/04/2003    from 01/04/2002
                                 to 31/12/2003      to 31/12/2002 
                           Note  ('000      )       ('000      )

Turnover 1 : 18,301 31,155
Profit/(Loss) from Operations 2 : (497) (18,659)
Finance cost : (16) 0
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (706) (19,080)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 3 : (0.00068) (0.01841)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (706) (19,080)
3rd Quarter Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)

B/C Dates for
3rd Quarter Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period

B/C Dates for Other
Distribution : N/A

For and on behalf of 
Systek Information Technology (Holdings) Limited

Name : Luk Yat Hung
Title : Chairman

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for
the accuracy of the information contained in this results announcement
form (the "Information") and confirm, having made all reasonable
inquiries, that to the best of their knowledge and belief the
Information are accurate and complete in all material respects and
not misleading and that there are no other matters the omission of
which would make the Information herein inaccurate or misleading. The
Directors acknowledge that the Stock Exchange has no responsibility
whatsoever with regard to the Information and undertake to indemnify
the Exchange against all liability incurred and all losses suffered
by the Exchange in connection with or relating to the Information.

Remarks:

1. Turnover

The principal activities of the Group are the provision of systems
development, sale of software and hardware products, provision of
professional services and provision of training. Turnover represents
income arising from the provision of systems development and
consultancy services, provision of IT engineering and technical
support services, provision of training courses and the sale of
software and hardware products.

An analysis of the turnover by principal activities of the operations of
the Group during the reporting periods is as follows:

                       Unaudited                    Unaudited  
                   Three months ended            Nine months ended  
                       31 December                 31 December  
                      2003          2002          2003          2002  
                   HK$'000       HK$'000       HK$'000       HK$'000

Principal activities

Systems development 1,056 4,883 9,693 18,454
Sale of software and
hardware products 370 1,718 3,102 2,789
Professional services
fees 890 2,892 4,725 8,638
Training fees 33 502 781 1,274

                     2,349         9,995        18,301        31,155

1. Profit/(Loss) from operations

Profit/(Loss) from operations is stated after charging/(crediting):

                       Unaudited                    Unaudited  
                   Three months ended            Nine months ended  
                       31 December                 31 December  
                      2003          2002          2003          2002  
                   HK$'000       HK$'000       HK$'000       HK$'000

Crediting

Interest income - 1 1 18

                         -             1             1            18

Charging

Auditors' remuneration - 150 145 450
Depreciation 10 646 767 1,911
Finance cost -
bank interests 2 - 16 -
Amortisation of
deferred assets - - - 48
Operating lease 110 1,030 1,300 3,231
Staff costs 1,527 7,299 12,791 22,038
Exceptional item -
severance payment - 421 - 421

1. Earnings/(Loss) per share

The calculation of basic earnings per share for the three months and
basic loss per share for the nine months ended 31 December, 2003 were
based on the profit attributable to the shareholders of approximately of
HK$64,000 (2002: loss of HK$4,920,000) and the loss attributable to the
shareholders of approximately of HK$706,000 (2002: loss of
HK$19,080,000) respectively divided by the weighted average number of
1,036,375,000 (2002: 1,036,375,000) shares in issue during the year.

There were no potential dilutive ordinary shares in issue the three
months and nine months ended 31 December, 2003 and 2002.