Profits drop 73pc at Avocent's Irish unit
Pre-tax profits at the main Irish unit of US IT firm Avocent declined by 73pc to $639,291 (€578,701) last year, new figures show.
According to accounts just filed by the Shannon-based firm with the Companies Office, Avocent International Ltd revenues decreased from $61m to $48.9m in the 12 months to the end of September last.
The firm employs 87 people at its Shannon base.
Its principal activity is the development, manufacture, distribution, sales and marketing of IT solutions products for the European, Middle/East, Africa and Asian markets.
The directors state: "The operating margin percentage decreased to 1.5pc from 4.45pc in the previous period.
"The directors regard this as a satisfactory result in the current economic environment." On future developments, the directors state that "as a result of new product developments, the company expects to expand its offering to customers.