Wang N.Z.’s good year

Press, 1 August 1989, Page 32

Wang N.Z.’s good year

Wang New Zealand has announced a net profit after tax of $11.3 million for the financial year ended June 30, on revenue of S92M. Shareholders’ funds increased 28% to SS2M, and net tangible assets increased 8% to S77M. The general manager, Mr Rick Ellis, said the result was achieved through a focus on quality new business; continuing to listen and respond to the changing requirements of customers; and sound financial management. The reduction of company tax to 28% for the financial year also helped. Project management services were increased 300% during the year in response to the demand for turnkey systems. Examples of customers included Newmans, for an international network, and the Department of Labour, for a PC network. The formation of key customer teams had been well received. Revenue from PC sales and support grew to SI3M. Wang estimates its share of the New .Zealand PC market is between 4% and 5%. “With the new industry standard range we will be looking for significant growth. As Wang currently holds an estimated 17% of the market in mid-range computers, we foresee our PC market share eventually moving to this level.” A feature of the year was the range of products launched. In addition to the VSSOOO Series Wang launched the VSIOOOO Series, and the Freestyle PC system. “The forward release schedule for the next 18 months is running at historically high levels. There are more than 50 significant new products scheduled for release spanning PCs and integration services, expansion of the capability of the VS at both low and high end and imaging systems,” Mr Ellis said. More than 90 VSSOOO Series systems, introduced in July, 1988, were sold during the year.