Helios & Matheson Q1 net up 71 p.c.

MUMBAI: Helios

& Matheson has posted a net profit of Rs 13.11 crore from Rs 7.66 crore

showing a growth of 71 percent for the quarter ended June 30, 2006.






For the same time, total income was Rs 88.93 crore reflecting a year-on-year
increase of 79 per cent, the company said.






Earnings per share (annualized) for the quarter ended June 30, 2006 were Rs
26.20.






During the quarter, the Board of TACT Inc. has recommended a name change to
Helios & Matheson North America Inc. Ticker symbol on NASDAQ Capital Market

to be changed accordingly. Name change will be ratified at the annual

shareholder meeting on August 22, 2006. TACT Inc. has increased the number of

directors from seven to nine with five nominees from Helios & Matheson for

board majority.






S Jambunathan, IAS (Retd), director (and former chairman) BSE, Divya
Ramachandran, vice president, Helios & Matheson and Kishan Ananthram,

chairman and CEO of IonIdea to join the Board of TACT Inc. Daniel L Thomas, CPA,

and former audit partner with Corbin & Wertz and Shankar N Ram, president,

US Operations of Helios & Matheson joined the board.






Giving guidance for the year ending March 31, 2007, the company said that the
income would be in the range of Rs 394.16 crore and Rs 394.72 crore. Net profit

is projected to be in the range of Rs 55.57 crore and Rs 55.65 crore.






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