Logismos, an Integrated Information Systems company based in Thessaloniki, announced the financials results for fiscal year 2003. The earnings before interest, taxes and depreciation were 1.619 thousand euros decreased by 4,5% compared to the last year which were 1.696 thousand euros. The sales revenues were 3.683 thousand euros, showing a decrease of 10% compared to the last year sales revenues which were 4.094 thousand euros.

The decrease of sales revenues is due to the reduction of product sales of third parties. This together with the increase of services sales belongs to the general strategic position of the company in order to increase the margin expectations. During 2003, this reduction of product sales of third parties was 60% and the increase of services sales 22%. The increase would be higher if there was not a delay of state programs and more specifically the B? cycle of the program 'E-pixeireite' on which Logismos is participating as a vendor in many companies proposals regarding applications of Enterprise Resource Planning, Customer Relationship Management and other IT projects amounting totally to 5.000 thousand euros.

For the fiscal year 2004, except of its core product Momentum ERP and its new apllications which complete its functions, Logismos will install and support the application ERP Microsoft? Business Solutions-Navision in order to maintain the leading position in North Greece. Logismos has already implemented its products in over 100 companies. Primary target of the company is to widen the customer base and to improve the quality of its products and services