April 24 (Bloomberg) -- Sonda SA, Chile’s largest information technology company, gained the most in a week after first-quarter earnings before items beat analysts’ estimates.
Sonda climbed 0.6 percent to 1,419 pesos in Santiago, the biggest increase since April 13. The benchmark Ipsa index advanced 0.3 percent.
The company controlled by Chairman Andres Navarro reported earnings before interest, tax, depreciation and amortization of 26.3 billion pesos ($54 million), a 24 percent jump from the same three months last year, according to data posted on the securities regulator’s website after the close of trading yesterday. The average estimate of three analysts surveyed by Bloomberg was for 25.7 billion pesos.
“The results reinforce our positive view of the company, sustained by its operational performance and attractive growth through acquisitions,” Banco de Chile analysts wrote in a note to clients today. “We expect a positive stock price reaction.”
Sales rose 21 percent to 154 billion pesos, while net income rose 2.1 percent to 12.2 billion pesos, according to the filing.
Sonda, with operations in 10 Latin American countries, announced its fifth acquisition in Brazil last month, agreeing to pay $55 million for 100 percent of PARS. The company has made 10 acquisitions since going public in 2006, according to data compiled by Bloomberg. Sonda announced in 2010 plans to invest $500 million through this year for regional expansion.
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