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DTC - Datatec Limited - Final Year End earnings update Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC FINAL YEAR END EARNINGS UPDATE Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international Information and Communications Technology (ICT) group, is today publishing a final year end earnings update for the financial year ended 28 February 2011, reflecting the fair value movements on put/call options for minority shareholders in subsidiaries. Underlying earnings per share*, which are unaffected by any fair value movements on put/call options for minority shareholders, are expected to be higher at approximately 38 US cents per share, compared to previous guidance of approximately 37 US cents per share (2010: 30,3 US cents per share). On 10 March 2011 Datatec announced that earnings per share and headline earnings per share for the year ended 28 February 2011 were expected to be approximately 32 US cents and that profit after tax was expected to be approximately $61 million. It was also announced that these estimates did not factor in any fair value movements on put / call options for minority shareholders in subsidiaries. An increase in the fair value of put option liabilities has resulted in unrealised fair value losses of $ 14.7 million (2010: $12.0 million). This is as a consequence of the increased equity valuation of the underlying subsidiaries. As a result the Board now expects earnings per share and headline earnings per share to be approximately 23 US cents per share (2010: 17 US cents per share) and profit after tax to be approximately $46 million (2010: $32 million). There are no cash implications for this technical change in earnings guidance. Had the fair value loss not been incurred, there would have been no change to the previous guidance for earnings per share, headline earnings per share and profit after tax. The Group expects to release its preliminary results for the year ended 28 February 2011 on Wednesday 11 May 2011. The financial information on which this statement is based has not been reviewed and reported on by Datatec`s auditors. *Underlying earnings per share exclude goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements Enquiries: Datatec Limited (www.datatec.co.za) Ivan Dittrich, Chief Financial Officer +27 11 233 1221 Wilna de Villiers, Group Marketing +27 11 233 1013 Manager Jefferies International Limited Chris Snoxall +44 (0) 20 7029 8000 College Hill Adrian Duffield/Jon Davies (UK) + 44 (0) 20 7457 2020 Fred Cornet +27 (0) 11 447 3030 Sandown 9 May 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 09/05/2011 09:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
